There are a lot of business opportunities for the logistics startups in the GST e-way bill based setup. As everyone knows that the first launch of E-way bill was not a smooth one. It was marred by GSTN traffic overload issues. However, it has been a few days since the relaunch took place and this time the GSTN has worked efficiently to deliver a seamless service.
The eWay bill will help in tracking interstate movement of goods to ensure a transparent transport system free of tax evasion as well as curb unauthorized delivery of goods. However, e-way bill platform developed, deployed and implemented by the The National Informatics Centre (NIC) is ideal for small firms and handling large volumes of requests for bill generation. But it caters little to the needs and demands of the larger logistic enterprises.
It lacks specialized features that can further increase process efficiency. This is where the start-ups come in. Logistic Solutions based IT startups are offering customized solutions for a wide category of enterprise customers.
The prime focus of these platforms is on two things:
- Customized Platforms for users as per their needs for bill-generation.
- Force Scale Adoption by consignors and transporters across geographies.
These platforms provide noteworthy features like
- Seamlessly handle voluminous transactions in Real Time.
- Auto calculation of distance and reduction in the turnout time.
- Generation of e-way bills valid across the length and breadth of the country from a single location.
- Immediate alerts on any changes done to the eWay bill provisions.
Logistics and tax filing startups stand to gain tremendously from the e waybill. The figures further cement this fact. Many of the tax Filing platforms are reportedly generating 1,00,000 e-Way bills a day. While many app-based platforms, claims 1,10,000 registrations for its filing services. And these startups expect the numbers to increase manifold in the upcoming days.
Read Also: Small Businesses Use Jugaad In GST E-way Bill To Evade Taxes
A Business Head from a tax filing company stated that “We are seeing a lot of interest from large enterprises and have about 100 of them registered on the platform, although we expect more conversions from (small and medium enterprises)”. He further added that the company hopes to witness a ten-fold increment in requests for bill generation.
Another Business Head from an app-based company stated: “Our app-based platform gives their clients the flexibility of generating e waybills from anywhere”. He also added that distribution driven heavy sectors like consumer goods, pharmaceuticals handling the tremendous volume of invoices daily are benefitting immensely from their customized solutions and services.
These are heydays for startups in the logistics and IT industry. A great opportunity for revenue generation and product extension. The prime factors that would govern market dominance and facilitate the generation of a loyal customer base are most probably: Price Competitiveness and High-Quality value-added features.
Recommended: GST Second Phase: Anti Tax Evasion Measures On Cards
