The E-way bill system under the GST regime in India has significantly transformed the entire transport and logistics sector of the country. Beneficial for both the government and the taxpayers, the E-way bill system is deemed to be a success already. Pitched as a system which can effectively check revenue leaks, it generated Rs. 95. 6K crore in the month of June, 2018 which is more than 5K crore compared to June, 2017. Although it is too early to judge the success of the system, yet there is no doubt that traders, transporters and all the stakeholders have been helped a lot by the system.
Benefits of the E-way bill-
- The goods vehicles, trucks and long haul trucks no longer have to stand in long queues in front of the check posts which existed during the VAT era. Thus, a precious amount of time is saved.
- Multiple documents are no longer necessary as a single way bill for a single consignment is generated online through a common portal and is valid all over the country. This saves a lot of hassle.
- Taxpayers are no longer needed to visit the tax office multiple times to collect documents.
Challenges of the E-way bill-
Any new system when implemented takes time to settle in and the taxpayers too need time to adapt to the new system. The E-way bill system is also needs a lot of understanding as there is no scope of errors while uploading information in the common portal. Thus, traders and taxpayers need to pay extra attention to avoid errors, check validity period, and calculate distances and cancellation of consignments. As, the entire system is online, correction of errors is often not possible leading to huge problems. In the one year of the implementation of the system it was found out that businesses commit many errors which mars their business experience.
Common mistakes committed by businesses in the E-way bill system:
- Generation of a single e-way bill against multiple invoices.
- Furnishing incorrect vehicle number or in invalid format.
- Inability to understand the bulk generation facility leading to improper usage.
- Generation of bills through incorrect user ID and not providing transporter ID.
- Inability to track the validity period and inability to maintain records of e-way bills generated by other parties.
- Clerical errors while uploading information.
Thus, businesses must take guard against such errors failing which they will not be able to get any benefit from the E-way bill system.
How to avoid such errors?
One of the safest solution of this problem is the using a software platform to negotiate through the entire process of E-way bill generation. The best E-way bill software will not only help to avoid errors but also provide multiple benefits like-
- One time entry compared to dual entry in the government portal.
- Applied intelligence to help with the entire process.
- Management of delivery information
And many more! Hence, use the best E-way bill software for a seamless business experience.