News & Media 1st Apr 2017
With the introduction of Goods and Services Tax (GST), it will be a game-changer for the logistics industry. Currently, all states within the country tax goods that are transported across borders at different rates. The state authorities examine the goods and levy appropriate duty on the freight causing delay in deliveries. As a result of this, a lot of transportation is lost in the transit.
GST will be a single tax on manufacture, sale, and consumption of goods and services throughout India. The purpose behind this move is to have one indirect tax for India which will make the country a unified common market. GST will be collected at every stage of sale or purchase of goods or services, based on input tax credit method. This simplification of the taxation system would make the inter-state transportation of goods more efficient.
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