Smooth logistic movement is an essential part of any successful business. The logistics industry in India is currently worth $ 160 billion; it employs 22 million people. The transportation of goods all over the country is a huge source of revenue for the government and more importantly, it is the main pillar on which the country’s economy stands.
The Goods and Service Tax or GST as implemented in 2017 has helped the Indian logistics industry evolve at a faster rate. The government has mandated the use of E way bills for interstate transportation of goods from 1st April 2018. The hand written way bill system has become an obsolete practice.
The E way bill aims to tie the whole country in a unified benchmark system as opposed to different road permit practices observed in different states of India.
The E way bill comes up with some significant challenges along with the great benefits
The benefits of E way bills are well known and unanimously applauded. It brings a unified country wide system; ensures unhindered movement of vehicles; reduces the application of check posts; gives power to businesses to launch complaints if detained unnecessarily for more than 30 minutes; all these features are lauded by the business owners. But it also comes with some challenges for the business owners and the transporters alike.
According to the law an E way bill is to be generated for every consignment worth Rs 50,000 or more. The bill is generated by the E way bill portal on furnishing the invoice details as well as the transportation details. The amount noted in the invoice should perfectly match the worth of the consignment.
Simple as it may sound it can make the business owners break a sweat to generate the E way bill properly especially when a business is dealing with multiple consignments from different parts of the country throughout the day.
An E way bill has to be produced for every consignment; trying to furnish all invoice and transportation details manually can cause real problems. A figure might go wrong, an item might be skipped.
A minor mistake can turn into a substantial loss for the business owner it can even lead to the cancellation of business license.
There is however an easy solution
A well designed E way bill software can put an end to all the confusion. If you are using SAP, the e way bill software can generate the bill from within SAP. The software can track the invoice data as well as the transportation details as soon as they are created. You only need to upload the data onto the e way bill portal in order to generate the bill.
Let the software handle things for you
Your e way bill software should help you track all the parameters of goods transport. It should warn you whenever the net worth of the consignment reaches the Rs 50,000 mark. It should be able to consolidate multiple e way bills into one. It should work at any hour and help you generate e way bills based on receipt notes and credit notes as well as a sale invoice.
If you have a business that depends heavily on logistics and if you want it to grow there is no way around the e way bills. An e way bill software is therefore, a necessity.