E-way bill: ClearTax launches software to ease bill compliance for businesses
E-way bill is an electronic way bill for movement of goods which can be generated on the GSTN (common portal).
Bangalore: ClearTax, a tax and compliance platform, has launched ClearTax EWayBill built to integrate with any ERP system, aimed at substantially easing e-way bill compliance for businesses.
Users can bulk upload invoices and auto-input Part-B of the e-way bill. Upon updation of Part-B of the bill, validity of the e-way bill commences. By default, the software validates e-way bill information to ensure zero duplicity and auto calculates distance to make sure that the validity period is accurate.
E-way bills can be regenerated or validity increased at a single click if the validity has expired. The software also notifies the user in real-time in case an error occurs and shows detailed analysis on pending, invalid e-way bills, according to a press release.
Multiple consignments may be loaded onto a single vehicle. For such dispatches, e-way bill can be generated all at once. It saves the user the hassle of copy-pasting line item data and generates e-way bills for multiple consignments swiftly and conveniently.
E-way bill is an electronic way bill for movement of goods which can be generated on the GSTN (common portal). Movement of goods of more than Rs 50,000 in value cannot be made by a registered person without an e-way bill.
The e-way bill can also be generated or cancelled through SMS. When an e-way bill is generated, a unique e-way bill number (EBN) is allocated and is available to the supplier, recipient, and the transporter.
Through ClearTax EWayBill, businesses can generate around 300 e-way bills in about one minute. The software then auto-generates monthly GST returns to ensure that there is no discrepancy between GST and e-way bill data of a business.
“Irrespective of the size of a business, having an automated e-way bill system can make compliance fast and smooth. Managing e-way bill compliance can be a pain for any enterprise without intelligent tech,” said Archit Gupta, Founder & CEO of ClearTax.
Net direct tax collection in the April-June quarter of the current fiscal is over Rs 2.46 lakh crore, as against more than Rs 1.17 lakh crore during the same period of the previous fiscal
Shortfall in GST compensation to states in the current fiscal estimated at Rs 2.59 lakh crore, of which about Rs 1.59 lakh crore would have to be borrowed