How to Manage E-way Bill With ease

How to Manage E-way Bill With Ease

Best ways to manage your e-way bill

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24 Feb 2021
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The introduction of GST e-way bills has been considered a game-changer in India’s history of the movement of Goods. As per GST, it is compulsory that transporters carry an e-way bill when they are transporting goods from one location to another, provided that certain conditions are met. The main intention of introducing e-way bills is to reduce corruption, hence, their timely management is essential to understand and master. This step has been undertaken with the noble intent to eliminate any paper-based documents that are easy to manipulate so one can ensure the timely delivery of their goods.

E-way bills have been successfully rolled out on the first of April in 2018. They have aided into imparting a greater amount of transparency as well as the hassle-free movement of goods between the receiver and the supplier. Let’s dive deeper into what these GST e-way bills are and the manner in which they operate.

What is a GST E-way Bill and How Does it Work?

To put it simply, to log the transportation of goods, GST e-way bills are generated. It is to be generated if the transportation of a good, intrastate, or interstate costs more than ₹50,000. Both the transporters and the supplier of the goods are required to upload the necessary details of the documents on their GSTN portal which will then generate a unique e-way bill. The number present on the bill will be sent to the transporter, supplier, and recipient, through the portal itself.

Situations in which an E-way bill is Required to be Generated:

There are other scenarios in which an e-way bill is to be generated. These are as follows:

  1. If the transporter chooses to transfer their goods from one vehicle to another, then a separate bill is to be generated.

  2. If multiple consignments are being transported, the transporter is required to mention the serial numbers of the various e-way bills.

  3. Multiple times, unexpected situations may arise that require that one go through the procedure of generating a fresh e-way bill all over again.

Undergoing all of these tasks can create a lot of confusion while also acting as a catalyst to create a host of other problems. All of this hassle can be simplified if one manages with e-way bills through the use of what is referred to as ‘ERP software.’

Benefits of Using ERP software

The benefits of using ERP software are as follows:

  • Instantly generated e-way bill number

All the details that will be required to generate an e-way bill can simply be entered into the bill number field. Once all the details are filled and one’s invoice is ready, it will be uploaded into the e-way bill’s portal. This will automatically generate an e-way bill with the e-way bill number.

  • Consolidated invoices

You have the option to group invoices once you are done with generating the GST of e-way bills for one’s individual invoices. The grouping can be done on the basis of one’s vehicle number, transport mode, a state where one’s supply is made, as well as a consolidated bill that will be generated on the e-way bill portal to make the transporter’s life simpler.

  • E-way bill available at your convenience

At times there are scenarios where there may be a situation where goods are ready to be shipped out while the transport vehicle is not. This transaction can be recorded at the ERP software that will be used to generate the e-way bill. This is how the ERP’s billing software provides the flexibility to generate GST e-way bills as and when they are needed.

  • Compliant invoices filtered out

Your company should be recording invoices at each stage of your value chain. This indicates that there are a lot of invoices for one to manage. It will also become extremely difficult for one to determine which of one’s invoice will require that one generate an e-way bill and which will not require this. This is the point at which using ERP software can rescue one by keeping track of all of one’s invoices, while also helping one to filter out the ones that are needed for one’s e-way bill to be created.

To Sum it Up

Generating an e-way bill can seem like a tricky and tedious task but with the aid of ERP software, this process is simplified. ERP software can be used to manage one’s bill with ease while also reducing the scope of errors. Make sure your business is GST-compliant, which makes getting a business loan a lot smoother. Read more about GST and IGST on Finserv MARKETS. On Finserv MARKETS, you can also get business loans within 24 hours with minimal documentation. You can also enjoy repayment schemes that suit the cash flow of your business, with no hidden charges.

 

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