August registered the third largest monthly volume of electronic invoices (eway bills), indicating sustained trade turnover and formal economic activity ahead of the holiday season.
The generation of eway bills increased by 7.7% compared to the same period last year, reaching a volume of 139.08 million. This figure exceeds the volume recorded in August 2025, which was 129.13 million. However, compared to July, which had the second largest monthly figure at 139.79 million, the generation slightly decreased by 0.51%.
Only March, with 140.60 million eway bills, and July demonstrated higher monthly figures. The high level of eway bill generation is significant because this indicator is considered an important measure of trade, consumption, and overall economic activity. A greater number of such invoices usually indicates an increase in goods movement and broader participation of enterprises in the formal economy.
Expert Forecasts
Saurabh Agarwal, tax partner at EY India, noted that the steady growth in eway bill generation reflects the continuing momentum of growth in India's organized economy. He stated that the consistent upward trend is a strong sign of domestic economic resilience, driven by improved compliance, formalization of business activities, and stable consumer demand across various sectors. Agarwal added that GST collections may receive an additional boost due to the onset of the festive season, traditionally associated with increased consumer and business spending, and expects September receipts to be even stronger.
Harpreet Singh, partner at Deloitte, believes that the third-largest monthly volume of eway bills in August points to continuous growth in trade turnover and formal economic activity before the holidays. He emphasized that, given the record figures in March and July, this trend suggests the resilience of inter-state trade and consumption, which is likely to lead to strong GST collections in the coming months.
Furthermore, official data published last week showed that private final consumer spending grew by 7.1% in the first quarter of fiscal year 27, supporting the overall picture of sustained domestic demand despite the slowdown in eway bill growth compared to last year.