NEW DELHI,Dec 31 () : The GST provision requiring transporters to carry an electronic waybill or e-way bill when moving goods between states will be implemented from February 1 to check rampant tax evasion and boost revenues by up to 20 per cent.
After implementation of the Goods and Services Tax (GST) from July 1, the requirement of carrying e-way bill was postponed pending IT network readiness. This was done even in the 17 states which in the pre-GST era had a well established electronic challan or e-way bill system, a top government official said.
Earlier, tax evasion was rampant as some preferred not to pay tax by resorting to cash dealing. Once the e-way bill system is implemented, tax avoidance will become extremely difficult as the government will have details of all goods above the value of Rs 50,000 moved and can spot the mismatch if either the supplier or the purchaser does not file tax returns, he said.
The all-powerful GST Council had on December 16 decided to implement the e-way bill mechanism throughout the country by June 1.
The official said e-way bill for inter-state movements will be implemented from February 1 and for intra-state movement from June 1.
The official said states have been given the option of choosing when they want to implement the intra-state e-way bill between February 1 and June 1..
They have also been given the option to exempt movement of goods within 10-km radius, he said, adding all essential goods have been exempted from the requirement of carrying e- way bill.
Besides plugging tax evasion, the e-way bill will boost revenues by 15-20 per cent, he said. "The experience of states which had e-way bill system in pre-GST era showed a 15-20 per cent rise in revenue," he said.
The official said a pilot of e-way bill has been successfully run in Karnataka and the IT system is fully geared to meet any requirement.
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, he said. 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, he added.
Trade and transporters can start using this system on a voluntary basis from January 16.
The rules for implementation of nationwide e-way bill system for inter-state movement of goods on a compulsory basis will be notified with effect from February 1, 2018.
This will bring uniformity across the states for seamless inter-state movement of goods. ANZ ABM
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NEW DELHI: All cars manufactured after July 1, 2019, will have to be equipped with airbags, seat-belt reminders, alert systems for speeds beyond 80kmph, reverse parking alerts, as well as manual override over the central locking system for emergencies.
The Union road transport ministry has approved the timeline for the implementation of these systems, and it will be notified in a few days.
At present, only luxury cars have such features, which are crucial for the safety of occupants. Union road transport minister Nitin Gadkari has approved the move for passenger as well as pedestrian safety on India's roads as thousands of people die in road crashes+ every year. In 2016, speeding+ alone accounted for nearly 74,000 of the 1.51 lakh deaths in road accidents. "The new cars will be fitted with a system that issues audio alerts when the speed crosses 80kmph. The alert will be sharper when the vehicle crosses 100kmph, and non-stop when it's over 120 kmph," said a transport ministry official.
The manual override system would ensure ease of exit in case a electric power failure renders the central locking feature non-functional and traps passengers, as has been reported in multiple vehicular accidents. "To reduce the possibility of accidents while parking in reverse gear, the provision of reverse parking alert is being introduced. When the car is put in reverse gear, the feature will give an indication to the driver whether there are objects in the rear monitoring range," said the official.
Sources said the enforcement of the provisions would pave the way for quicker implementation of frontal and side crash test for vehicles. Across the developed world, the focus is now more on ensuring the safety of occupants, and global safety experts argue that "no vehicle should be a death trap".
Transport ministry sources said airbags and reverse sensors would also be made mandatory for light commercial vehicles, which primarily run in urban areas.
CHENNAI: In a major relief to commuters across Tamil Nadu, transport unions called off their indefinite strike on Tuesday evening. Workers will resume work from Wednesday, although complete normalcy is expected only from Thursday.
The government has assured the 10 striking unions that it would immediately disburse Rs. 1,250 crore towards clearing various pending dues, besides settling dues of pensioners by September.
"Of the 1,700 crores due for retired workers the government has agreed to settle 1,250 crore immediately and the rest would be paid in three months. Wage revision talks will begin immediately. The strike period would be treated as leave and there would be no victimization," said Centre of Indian Trade Unions leader Soundararajan.
The government, transport unions add has also agreed to improve the financial condition of transport corporations which are presently under huge losses.
The announcement came after the Madras High Court warned of action under Essential Services Maintenance Act or ESMA if transport workers did not resume work.
Operations at the terminal of the nation's largest container port Jawaharlal Nehru Port Trust (JNPT) were impacted last night as a fallout of the global ransomware attack, which crippled some central banks and many large corporations in Europe.
Businesses all over the world are growing. The purchasing power of people is increasing which is driving the growth in demand for goods. Also, apart from the old school brick and mortar business, the last decade has seen a huge boom in ecommerce or online business. People sitting at home want goods, accessories, products etc to be delivered right at their doorstep. The growth of businesses, and especially ecommerce is driving the growth of logistics. Companies use rail and road as efficient & cheap ways to transport goods. But airline logistics is set to be an important aspect of businesses, which would lead to creation of cargo hubs.
Cargo hubs in aviation are basically centrally located airports which cater to cargo planes. They act as a hub in a hub and spoke model. Cargo hubs are primarily identified on the basis of its geography and close proximity of as many business relevant locations as possible. The cargo hub provides warehouses for storage, areas of loading - unloading, ample parking for trucks and good connectivity to all nearby places.
The current market scenario demands speed to market when it comes to delivery of products and goods. The faster the supply chain in an organization, more is the speed of business delivery and more is the customer satisfaction. Cargo airlines provides the quickest way to deliver goods from one part of the country or world to another. However, the overall process of supply chain management can be refined and fine tuned with the presence of cargo hubs at centrally located areas.
Some of the basic essential requirements of a having a good cargo hub are enlisted below:
Areas which can provide robust infrastructure are preferred for a cargo hub. It should cater to heavy air traffic, should have sufficient storages/ warehouses, provide space for offices etc.
Centrally located places having good and simple air connectivity is important. Places having good airports, skilled airport staff etc can boost the business at a cargo hub compared to a small airport.
Any cargo hub which is closer to a factory or producer would save time, reduce cost and enhance efficiency. Hence, geographic presence of cargo hubs becomes critical.
A centrally located cargo hub would ensure that there are rail and road routes in all directions. This would ease out congestion as trucks and trains would travel in all directions rather than being forced on a single route.
Areas which are prone to heavy rainfall, mountain areas, dry areas etc can be a cause of concern as they would disrupt ground processes and affect the overall supply chain management. Hence, for a cargo hub to be successful, a plain area with accessibility to water and electricity becomes critical.
All these factors become important while identifying a centrally located cargo hub. Such a place can be boon for manufacturers and traders as reduction in cost and time would directly increase revenue and profits. Apart from that, cargo hubs would ensure prosperity of the location where it gets set up. It would lead to creation of logistical hubs, warehouses etc which would generate employment and skilled workforce. All this would lead to creation of wealth, which would eventually percolate down to the local businesses and people.
There are several benefits of having a wonderfully located air cargo hub-
Reduction of inventory costs
Quick turn around time
Simplification of supply chain and order processes
Eradication of intermediary costs
All these put together help to increase business efficiency, increase margins and there by generates more profit for companies.
Industries which prefer airport transfer are mostly pharmaceuticals, fmcg providing perishable food items, gems & jewellery, frozen food items etc. Since these goods are precious or have a small shelf life, it becomes important that they reach the customers well on time. Also, with the expectation of people on having quick deliveries for online shopping, the opportunity in the field of airline logistics is tremendous.
The world of logistics and distribution is changing rapidly. The quicker the supply chain, the faster the business processes and the happier the customer is. Airlines are the fastest way to transport goods from source to destination. But all these can be greatly influenced by the presence of goods cargo hubs, which ultimately would become the future of logistics and distribution in supply chain management.