Does E-Way Bill Help In The Adaptation Of Technology In The Logistics Sector?

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 andconfusion as well as the transportation of goods hassle-free. E-way bill hasalready replaced the transport bills, waybills, etc. that the logistics companiesin India used earlier. It is true that under GST, with every year passing, theIndian logistics industry is enjoying rapid growth, nearly 10-15%.

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

Less Documentation
E-way bill is enough for one single consignment tocross over multiple states across the country. The transporters got relievedfrom unnecessary documentation.

Fast Shipment
In the earlier scenario, the cargo got delayedstumping at each state and national check post. but the e-way bill has made thecargo movement smoother than before. Smooth cargo movement means the fast shipmentof goods.

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 RFiD, FASTag and IoT, etc. to stay GST ande-way bill compliant and make their business more efficient. The mainchallenges running across the logistics sector were the cargo safety andoperational cost. Fortunately, the sector in now gets intertwined with E-waybill and such great technologies. As a result, both the freight movement and thetransportation cost is seeing the light of hope.

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