On July 20, 2018, the All India Motor Transport Congress (AIMTC), which calls itself the apex body of transport companies in India, announced an indefinite nationwide transport strike, putting a stop to transport services all over the country. A large part of the 14 lakh vehicles transporting goods and essential commodities across Maharashtra went off the roads, slowly affecting commodity prices and the daily routine of its citizens.
The society we live in is ever growing, especially in terms of technology. It has changed at a tremendous pace. If we look at the growth of the technological market, a decade back, the phones and tablets we use were not as evident and widely used. But a decade later, almost every pocket has a smartphone and every house has an Internet access. The growth of the logistics industry has also taken a huge turn with this unprecedented growth in the field of technology. Now we look at the further levels of growth that can be achieved with the constantly changing technology and the future aspects that may come and change the trends once and for all.
APIs are going to be a key driver in the digital economy. Corporates with an integrated systems strategy will be able to leverage real-time data in the most consumable way and gain a significant competitive advantage.
API based E-Way Bill compliance solution allows speed in exchange of data, live data reporting, real-time data integration, and data security, thus improving the overall customer experience.
India's road network is the second-largest in the world only after the USA, having approximately 4.7 million kilometers of roads which have around 8 million transportation vehicles traveling on their path at any given point. Road transportation accounts for about 6% of India’s GDP. Still, these industries such as Mumbai and Pune transport services are affected by various inefficient services, corruption at many levels, accidents and poor services. Also, the fact that, all the business run entirely on trust which most companies have a terrible record of keeping when it comes to providing new technological facilities like package tracking etc.
The E-way Bill is Being Seen as a Solution to prevent GST Evasion. Logistics Junction explains How?
Electronic Way Bill (E-Way Bill) is basically a compliance mechanism wherein by way of a digital interface the person causing the movement of goods uploads the relevant information prior to the commencement of movement of goods and generates e-way bill on the GST portal.