Everything You Want To Know About E-way Bill

Everything You Want To Know About E-way Bill

E-Way Bill stands for Electronic-way bill. It is an exclusive document or bill, which is generated electronically for the particular consignment of goods from one location to another. The movement of goods can be within the state or from one state to another. The E-way bill is only generated when the value of the consignment is more than Rs 50,000. E-way bill came into effect from 1st April 2018. When e-Way Bill is created, a specific e-Way bill number also known as EBN is given to the supplier, transporter, and receiver of the goods. 

Who Should Generate An E-way Bill?
Now that you know what is an e-way bill, let’s have a look at who can produce an e-way bill when goods are moved from one place to another. 

Advantages of E-way Bill

Involve minimal documentation work 

All the documentation work which is required for taking goods out of the state is not needed anymore since the introduction of the e-way bill. Another benefit that can be enjoyed by the transporters is the institution of the RFID device in the conveyance which is used to move consignment. The person who is the in charge of the vehicle does not need to carry physical copies of the bill with him or her, as the RFID device is connected to the vehicle and authorized personnel can verify the e-way bill through that device. 

Bring down the transportation cost 

E-way bill helps in bringing down the transportation cost. E-way billing method leads to right invoicing procedures. In addition, it also reduces the practice of tax avoidance.

Effective and efficient movement of goods 

With the help of an e-way bill, transportation of goods will become more effective and efficient. It will save lots of time and money for all the parties involved in the movement of goods. Given sufficient time, E-way billing method can transform the commercial transportation industry in India. The economy can make optimum use of commercial vehicles and lead to faster movement of goods across the country.

E-way bill comes with user-friendly characteristics 

E-way billing systems and platform is very easy to understand and comes with many user-friendly features. You can easily download the e-way bill and it is a very easy task to generate the e-way bill in the official capacity. 

Disadvantages of E-way Bill

Lack of sufficient internet facility and speed 

In many parts of the country, the internet is still not available with sufficient capacity in order to access it smoothly and uninterruptedly. Lack of proper internet connection at various locations can be a big drawback when it comes to generating an e-way bill.

The difference in opinions of various state about e-way billing system

Every state has a different opinion about e-way billing. Some are welcoming it with open hearts, while some are still concerned about its application and success. Most of the states want to set up their own e-way billing system, which can cause chaos in transporting goods from one state to another.