Hyderabad (Telangana) [India], Jan 29 (ANI-NewsVoir): With the introduction of the e-way bill on February 1, 2018 which is an important milestone in Indian commerce sector subsequent to the GST buzz, Adaequare (parent company of Udyog Software), GST (GST Suvidha Provider) and a proven GST application service provider is all set to help organisations automate e-way bill process and has released e-way bill application.
The company offers an in-built tax automation capability which validates documents prior to submitting to the portal thereby avoiding duplication and unnecessary re-work.
Udyog Software also offers a web based e-invoicing system where one can generate e-way bills and also e-invoices that can be circulated to the consignees and transporters in just a click. This application has custom workflows for transporters and logistic providers where all invoicing/e-way bill related scenarios are fully supported.
Udyog's e-way bill solution will help organizations run operations smoothly and companies now do not have to file multiple documents for GST reporting. The invoices, company submit to GSTN portal to generate e-way bill can be used to file GSTR1. However, since e-way bill process involves multiple steps and warrants multiple check points, the most efficient way is to automate the process.
Operationally, there are benefits and challenges for including e-way bill in the shipment process. Benefits include easy reporting, minimization of errors, duplicates etc. Udyog is set to provide reliable and partition tolerant API access to organizations that are looking to integrate the e-way bill process with their existing source/ERP systems.
"The industry, at present is struggling to get on with the destination-based tax from an origin-based tax structure and with electronic way bill or e-way bill system being introduced it will further add complexities to existing operations. E-way bill, no doubt is a game changer but brings with it implementation issues. While this also calls on all organisations to relook at their current business models, business policies, and procedures we at Udyog are poised to address these issues as we already have an edge with organisations in helping them improve their business performance through our innovative solutions", said Pavan Peechara, President of the Board, Director of Udyog Software (India) Ltd. and CEO of Adaequare.
With the new e-way bill, transporters are required to complete the shipment because, the new law requires compliance and reporting from transporters at multiple levels. Firstly, transporter details have to be reported for generating e-way bill as PART-B in EWB Form 1.
If the vehicle is transporting multiple shipments (multiple e-way bills), transporter needs to generate a consolidated e-way bill, if the vehicle gets detained at a checkpost for more than 30 minutes, transporter needs to file a detention report to extend validity, if the vehicle breakdown, then the transporter needs to update the vehicle number in the e-way bill . So, overall transporters are expected to gear up towards all the reporting requirements and given the e-literacy of drivers of the vehicles, the challenge only seems tougher.(ANI-NewsVoir)