HOW CAN THE RIGHT SOFTWARE HELP GENERATE AND MANAGE E-WAY BILLS EASILY?
The obvious question that comes to mind is, “Will implementation of e-Way Bill impact my business?”
The answer is yes. Whether you run a big or a small business, are registered or not registered, e-Way Bill will be applicable to you in one way or the other. Since e-Way Bill is a GST compliance mechanism, it will be useful to become familiar with it.
WHAT IS AN E-WAY BILL?
E-way Bill is an electronic way bill generated on the e-Way Bill portal, for transporting goods worth more than INR50,000. Any registered business transporting goods in their own vehicle, hired vehicle, railways, by air or by vessel, should generate E-way bill.
HOW CAN THE RIGHT TECHNOLOGY MANAGE E-WAY BILLS FOR YOU? 1) Avoid repetitive activity
The same details that are required to record a transaction and generate invoices are also required for generating the corresponding e-Way Bill. Why would you want to spend time to re-enter all the details again in the eWay portal? The right software will help you avoid this repetitive activity.
2) Flexibility You must be able to record transactions in your software, and export the details together for the purpose of generating e-Way Bills in the portal. This must be possible the other way round as well, i.e., in situations where you have recorded transactions in the portal first to generate e-Way Bills. The right software will let you switch between systems. From portal to your software, and vice versa.
It is not always possible to generate an e-Way Bill as soon as you have recorded a transaction. You might be supplying goods a few days later. Sometimes, your transporter might not be ready with the vehicle. You need flexibility to generate e-Way Bills any time.
3) Ensure compliance
Depending on the nature of your business, you might be recording transactions for transporting goods frequently. How will you keep track of transactions of value more than
` 50,000 for which it is mandatory to generate e-Way Bills? Let your software do that for you. Imagine cases, where there are hundreds of transactions recorded.
4) Print invoices with e-Way Bill Nos.
In a fast-paced business environment, where you are paying money to transporters for moving your goods, time is valuable. Your software must let you print e-Way Bill Nos. on invoices in a short span of time. You can handover the printouts to your transporter who will need to carry the documents while transporting goods for compliance purpose.
5) Manage exceptional cases
What if the vehicle in which your goods are being transported breaks down? Your software should allow you to track an invoice quickly and generate a fresh e-Way Bill from the portal.Business situations can be unpredictable too. If for any reason, your supplier is unable to generate an e-Way Bill, or if you are making purchases from unregistered dealers, your software should allow you to generate e-Way Bills on their behalf.
6) Generate and print consolidated invoices
The commercial tax department allows invoices to be grouped based on mode of transport, vehicle nos., place of supply or State and generate a consolidated e-Way Bill to make life easy for the transporters. You should be able to generate individual e-Way Bills for each invoice, and the software should allow you to group these invoices as per your preference. Once this is done, the software should be able to generate a consolidated JSON file of the same which can be uploaded on the portal. The e-Way Bill portal will then generate a single e-Way Bill for the consolidated invoices.