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🖈 Standard / 👨 by Shipyaari / 📅 February 9th, 2018

The Transforming Impact of E-Way Bill

The Goods and Services Tax (GST) that came into effect in July 2017 promises to rectify numerous anomalies in the existing supply chain. E-way bill, was earlier set to be compulsorily implemented from February 01, 2018. However, its roll-out is deferred now to a later date. Thisis anticipated as an important reform under the GST regime to weed out restrictions in the smooth movement of goods for interstate as well as intra-state transportation. Let’s examine what the e-way bill actually is and what it holds for the future?

Introduction to E-way Bill

The paper-based waybills that the transporters need to carry during goods consignments are set to be replaced by their digital counterparts, the e-way bills. In other words, an e-way bill is the digitally-generated pre-signed order specifying all important details, including those of the consignor, consignee, transporter, transportation vehicles and consignments. This need not be physically carriedand can be accessed at any point of time for the purposeslike aninspection.

Important Things to Note about E-Way Bill

What Are the Benefits?
E-way bills are expected to provide a number of benefits like:

What Are the Challenges?
At the nascent stage, the e-way bill setup is bound to face challenges like:

To leverage the benefits of e-way bills, these challenges need to be addressed. However, it is still hidden in the layersof future how exactly it proves to be a game changer.

📅 February 9th, 2018