The Punjab Government has re-introduced the e-TRIP (Transport Information within Punjab) by amending the act and framing new rules. Now the scheme will apply to Iron and Steel transaction worth Rs 50,000 and above to be reported to the website before the physical movements of goods take place.
Any transaction covered by multiple invoices with the total value exceeding the prescribed limit, where the consignor and the consignee were the same and the goods were transported through the same vehicle would be considered a single transaction for the purpose of minimum sale.
“Implementation of the strict e-TRIP will make all transaction in Bill. It will have a negative impact on small manufacturer and buyer who prefer to buy without bill material. It will also increase intake from other states, who does not have e-TRIP mechanism,” said Re-bar manufacturer based in Mandi Gobindgarh (Punjab). SteelMint learned that due to the amendment in bill the short term price might increase by Rs 300-400/MT but it may not remain same, as Finish long demand in retail end is not picking up.
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