With the highly uprising strange tides of globalization and the effectiveness of the new tax reform called GST, Indian logistics is experiencing a swing of exposure in the global market. The basic intention of GST was to make the Indian logistics sector free of corruption and confusion as well as the transportation of goods hassle-free. E-way bill has already replaced the transport bills, waybills, etc. that the logistics companies in India used earlier. It is true that under GST, with every year passing, the Indian logistics industry is enjoying rapid growth, nearly 10-15%. So, software GST is helpful in saving Tax.
What Is The E-Way Bill?
E-way bill is like a pre-signed bill, needed beforethe transportation of a cargo. A cargo, worth of Rs.50-60,000 is not allowed tobe shipped without the E-way bill. The transporter has to generate the E-waybill before he initiates the transportation. The person who generates E-waybill has to undergo through some formalities, providing relevant and majorinformation regarding the consignment.
Benefits Of E-Way Bill In the Logistics Industry
E-way bill is enough for one single consignment tocross over multiple states across the country. The transporters got relievedfrom unnecessary documentation.
In the earlier scenario, the cargo got
Reduced Logistics Cost
With a faster movement of cargo, the transportation cost like fuel, and such other, have also been reduced.
Does E-Way Bill Help In The Adaptation Of Technology In The Logistics Sector?
GST is the Government push to the logistics sector to make the transportation better and smoother. Many logistics companies are these days are adopting technologies like