What is E-way bill:– The E-way bill, short form for electronic way bill, is a document to be generated online under GST system, when goods of the value of more than Rs.50,000 are shipped inter-state or intra-state. The E-way bill must be raised before the goods are shipped and should be include details of the goods, their consignor, recipient or transporter.
E-way bill advantage and disadvantage:-
Advantage of E-way bill:
Less documentation:- All the exiting state-wise documentation required for movement of goods will never again be require. Another beneficial that is available for the transporters is the establishment of RFID device in the vehicle used to transport consignment on a regular premise. The person in charge of the vehicle never again needs to convey physical copies as the device is attached to the vehicle and the e-way bill can be mapped and verified through the device.
Cost reduction: E-way bill will reduce the logistic cost. E-way bill would reinforce proper invoicing and along these lines would reduce tax avoidance.
Efficient transportation: It would be increase efficient & speed of transportation. A truck in India covers an annual average distance of 85,000 km as compared to 1,50,000 to 2,50,000 km in developed countries which pose a clear indication that our transportation systems needs some reforms. E-way would help to reform the industry.
No waiting time at check post and faster movement of goods thereby optimum use of vehicle/resources.
User friendly e-way bill system:- E-way bill systems & portal is very user friendly and easy. Even dealers can easily self download the e-way bill.
Easy and quick generation of e way bill:- E-way bill would be generate easily and quick, there is not big task to generate e-way bill. In upcoming time it will be make very easy because government is working very lightly.
Disadvantages of E-way Bill:-
Poor Internet facility: – Poor internet connectivity or not availability in most of location can be big concern.
Different opinion from different states:- Most of states are concerning about e-way bill systems. Most of states wants to implement their own e-way bill systems, in future it can be big huddle.
Glitches in generating e-way bills-:- It is big problem at e-way bill portal because last time date was deferred due to technical glitches.
Industries engaged in multiple modes of transportation will end up generating a large number of bills for every shipment.