What is an eWay bill and How it impact Pharmaceutical Industry?

Pharmaceutical is a rapidly growing industry. Due to increasing population and rising health problems requires medicines. In India, there is a huge demand for medicines. To meet the medicine demand, there are so many pharma companies which manufacture medicines and deliver in the market by franchise business. Sending medicines to the supplier is not an easy task.

Government of India introduces so many laws which make transportation easy. With the introduction of GST and Eway Bill, harmonization of intricacies involved in the supply of goods across the states would be achieved and pharmaceutical companies would see improvements in managing their supply chains.

EWay bill gives a positive impact on pharmaceutical sector. Firstly, we know what is Eway bill.

E-Way Bill is the short form of Electronic Way Bill. It is an uncommon document/bill, which is electronically generated for the specific order of goods from one place to another, either inter-state or intra-state and of value can be more than INR 50,000, required under the current GST regime.

Eway bill has great importance not only in the pharma sector but also play a vital role in other sectors also like manufacturing, FMCG, infrastructure, etc. There are various advantages of eway bill. Here in the next section, we will elaborate on the benefits of eway bill facility.

Reduced documentation work -

The pharmaceutical industry is looking at a substantial reduction in document work. Previously, transporters had to prepare documents for each state they passed through while delivering goods. Under the e-way bills, it is sufficient for a single consignment passing across several states.

Faster movement of all procedures

By the help of e-way bills, it also leads to faster and smoother movement of goods with the removal of a large number of the state border and national check posts. Vehicles will only be detained once in a state unless authorities suspect tax evasion. If a vehicle is detained for more than 30 minutes, it must be reported.

Easy to use

The Eway Bill could be generated through modes like SMS, Android App, Web, Bulk Upload Tool and API based site to site integration, etc.

Reduce other costs

By the help of eway bill, it reduces other cost also. For example, whenever we deliver the orders in other states, we have to bear the tax, but after GST and Eway these unwanted pay reduced, which is very helpful for the pharma companies.

With the advantage, there are some downfalls also. After the applicable of eway bills, it increased the cost for smaller transporters, every time the mode of transport change, a new eway bill will generate. And this leads to generates multiple bills for one consignment.

Syndicate Lifesciences is the top pharma franchise company. The company deals in transparent dealing and deliver quality medicines to the suppliers on the promised time. The company follows the rules and regulations. That’s why the company is known as Top PCD pharma company in India.