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In the GST regime, E-Way Bill has been made mandatory for all types of inter-state and intra-state movement of goods with a minimum value of ₹ 50, 000 or a higher threshold in some states, for a minimum distance of 10KM. It is an electronic permit that remains with the vehicle throughout the way up to the destination.
Today, every invoice beyond the threshold limit needs to be accompanied with an e-way bill. One can either login to the portal, specify the information and generate e-way bill or use the offline tool that imports the information to e-way bill portal and generate. Now, invoicing being an everyday activity, a lot of time and effort goes into complying with the e-way bill requirements. With e-invoicing requirement (currently for some notified businesses), it makes it even more difficult.
Won’t it be simple if you just record an invoice in a software which automatically interacts with e-way bill portal and generates it as well? Yes! This how exactly the connected e-way bill solution works. Here are some of the most important reasons why you should choose an e-way bill software for your business:
In order to eradicate multiple issues pertaining to transportation of goods, the need for an online and advanced mode of uniformed Electronic Way Bill had become the need of the hour. Let us understand why connected e-way bill software is important for your business:
When you are using a manual method to pass various business transactions, it becomes rather difficult to keep in mind the distance travelled from one place to another for a particular deal. Since e-way bills are imperative when it comes to compliance, you cannot mess up the numbers in anyway. Since TallyPrime is integrated with various online portals to ensure complete tax compliance, generating accurate e-way bills becomes a seamless affair. You can simply upload the details on the e-way bill portal, fetch the necessary information and update the invoice without worrying about the numbers going haywire.
Generating bulk electronic-Way Bills using TallyPrime saves a lot of time for a user. Usually, transportation of each consignment requires a separate e-way bill. However, given its numerous benefits there came a problem where generation of multiple consignments in a single vehicle was noticed. In situations where the transporter is transporting the consignment of multiple parties. After generating multiple e-way bills by the parties (whose goods are being transported in a single vehicle), for convenience purpose, an option for the transporter to generate a single consolidated e-way bill has also been given. A user can generate all the transactions throughout the day, and by the end of the day he can go only once on the e-Way Bill portal and create in bulk, e-Way bills for all his transactions. By using TallyPrime, chances of missing an EWB is also minimal as it will track all your transactions that are created, and also will let you know of the transactions for which e-Way Bills are yet to be generated.
You can generate e-Way Bills first in the e-Way Bill portal and then update the invoice details in your TallyPrime. Or you can use TallyPrime to first create your invoice, provide additional details in the invoice at the same time and create a JSON file of the data. This JSON file can be uploaded on the e-Way Bill Portal to generate your e-way Bill. Based on your convenience, you can alter easily between the portal and TallyPrime to generate e-way Bills.
A connected e-way bill software which is integrated with the e-way bill portal will also give you the added advantage of checking out incomplete/mismatched information as per GSTR 1. In TallyPrime, if a voucher has multiple exceptions, on resolving one exception it will move to the next exception category until all exceptions are resolved and entries moved to “Included” in Returns. In fact, you can print, export or email the transactions of the Uncertain Transactions (Corrections needed) report, and the Uncertain Resolution screen of each exception.
Management of GST E-Way Bills could be due to many reasons. There could be incorrect invoices that would need to be modified or you want to export E-Way Bills which are not yet uploaded on the E-Way Bill portal, etc. In TallyPrime all these contingencies can be taken care of in a single click. You can easily get all your e-way bills under ‘GST Reports’ and choose whichever option is right for the next action.
TallyPrime’s integration with the e-way bill portal mitigates any complications that a business owner would face while maintaining his company’s finances. Take a free trial of TallyPrime today and experience it manage e-way bill compliance in the best possible way.