As we gaze into the crystal ball of logistics, what does the future hold for e-way bills? One emerging trend is the integration of e-way bill systems with emerging technologies such as blockchain and artificial intelligence.
These innovations promise to enhance the efficiency and security of e-way bill management, ushering in a new era of digitized logistics. Moreover, with the advent of smart transportation solutions and IoT-enabled tracking devices, the monitoring and management of e-way bills are set to become even more streamlined and automated.
Indeed, the future of e-way bills is brimming with possibilities, poised to revolutionize the way we transport goods across borders.
Registering GST for a business means getting a unique code of 15 digits. That is Temporary Reference Number (TRN).It is called a Goods and Services Tax Identification Number. GST registration is a fundamental need for business identification. It is also required for compliance verification and any tax purposes. You can track application status using Temporary Reference Number after registration.
Registration of GST is mandatory, if the aggregate value exceeds INR 40 lakhs.
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The STR-1 is a report that GST-registered businesses need to submit every month or quarter. It includes details of all their sales for that period. Marg ERP software offers a handy feature where users can easily upload their STR-1 report directly to the GST Portal. This saves time and makes the filing process much simpler. So, if you're using Marg ERP software, you can quickly and effortlessly submit your sales details to the GST Portal without any hassle.
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Did you know? Section 17(5) imposes limitations on utilizing specific GST inputs for settling GST obligations. An example of such non-eligible expenses includes membership fees incurred at clubs, health centers, or fitness facilities subject to GST charges, which cannot be claimed for GST benefits.
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Now that we’ve covered the theoretical aspects of e-way bills, let’s take a peek into how they work in the real world. Imagine a scenario where a manufacturer based in Gujarat needs to transport a consignment of goods to a distributor in Maharashtra.
To ensure compliance with e-way bill regulations, the manufacturer logs into the designated e-way bill portal, fills in the required details about the goods, and generates an e-way bill. This digital document accompanies the goods throughout their journey, serving as a virtual escort, guiding them safely across state borders.
At the same time, authorities can track the movement of the goods in real-time, ensuring transparency and tax compliance