The technology and the IT infrastructure has played a vital role in the growth of Indian economy. And as the economy moves towards the digitalization, the market expands. The vast Indian market is the main reason that made the government implement such an extensive taxation process without using any tricks of the trade. The GST Act was rolled-out after years of the top governmental rendezvous and analysis. Since the new taxation regime is indirect in nature, it subsumes all the earlier taxes into one.
The objective to put a dead stop on the evasion measures
Soon after the Goods and Services Tax Act came out, the government experienced an unexpected fluctuation in the revenue collections. Later it turned out that the taxpayers weren’t able to file the returns either due to:
- The technological glitches in the Goods and Services Tax Network.
- Or the businesses voluntarily filed the wrongful returns in order to escape the hassles of the new taxation system.
Hence, the government decided to integrate the regime with few more scrutinizing factors that could attenuate the fraudulent evasion measures. The e-way billing mechanism is one such factor that was rolled-out to keep a record of the transportation of the goods and services from one place to another. But would you be able to count on a process that turned out to be full of glitches during the very first day of its roll-out?
However, the same has been the case with the portal of the e-way bill. Initially, the capacity of the portal fell short following which the portal crashed and the logistics industry became stagnant for a while. Fortunately, the advent of GST software demo India helped the government to streamline the entire process and develop it into a robust one.
The phased implementation of the e-way billing mechanism
In order to gain the trust of the taxpayers back, the government re-implemented the e-way billing system and also increased the daily limit of billing to a whopping 75 lakh bills in a day. The e-way bill could now be generated with multiple means of platforms like the GSTN portal, SMS, etc. This time the government is entirely focused on providing the transporters a centralized system of billing. To provide you a matchless assistance related to the e-way billing system, the government has begun a help desk of 100 agents dedicated entirely to solve all your e-way bill queries.
In this way, the government is not only effectively bolstering its no-evasion objective but also disentangling the GST calculation in India. The government, with the newly updated e-way bill mechanism, allows you to cancel the bill within 24 hours if produced wrongly. The transporters have also been waiting in the wings for the government to provide them with some quintessential remedies that could ease their daily business.
No matter in which part of the world you operate the business, the logistics industry would always be the backbone of the majority of its operations. From delivering goods and services to the establishment of offices, everything revolves around the logistics sector only. Since the government has assured that no inconvenience will be caused to the honest transporters, GST software demo India could help to boost the revenue collections.
Due to the excessive loss of the business, the logistics sector became temporarily incapable of operating in the market effectively. Following the repetitive complaints of the transporters about the illegitimate behavior of the assigned check-stop authorities, the government has now assured that:
- No vehicle will be stopped for more than 30 minutes in the case of the e-way bill generation.
- No physical verification of the vehicle will be done in the absence of the senior authority.
- No unnecessary penalty will be charged on the vehicle without re-assuring the exact fault.
The government’s efforts to make the Goods and Services Tax Act easy is appreciable. Also, the taxpayers of the nation have commendably registered under the regime and started complying with its strenuous processes. However, it is important to notice that GST is still evolving and has just surpassed its nascent stage. Hence, both the government and the businesses should walk hand in hand in order to achieve the objective of putting a stop on all kinds of evasion measures currently munching on the revenue collections. Moreover, the government should increase its focus on spreading the awareness about the newly implemented processes in the regime like the e-way billing system and anti-profiteering measures. The more the people will become aware of the Goods and Services Tax Act, the closer the government will get to turn the idea of one tax, one nation into the reality.