"Logistics companies will be the biggest beneficiaries once GST is rolled out, and players in multimodal transport, that is integrated logistics companies with focus on India, will reap benefits," Allcargo Logistics Founder and Executive chairman Shashi Kiran Shetty said.
GST will play a critical role in next level of growth and to truly realise the country's potential as a global trading hub. There is a need for globally accepted policies and regulations like GST to add efficiency in the system, he said.
"From a macroeconomic level, GST for the economy, if implemented to its fullest, will be a game changer....this uniform tax regime will make transaction costs of doing business, especially export-import, more competitive and make the logistics value chain more efficient," he said.
Echoing a similar view, Patel Logistics chairman Areef Patel said GST will ensure smoother and faster movement of goods, thereby reducing the burden on the consumer.
"This will be in line with Prime Minister Narendra Modi's mantra to reduce corruption on the floor-shop level which will get rid of all the forms, octrois, LBT, other such forms of indirect taxation. Also this will give a boost to the road transport players," Patel added.
"It will also boost the warehousing business and multiple warehousing across the country. E-commerce business will see a boom and India can become the next Ali Baba of the Ecommerce world in the next five years," he said.
The Cabinet yesterday approved the Constitutional Amendment Bill on GST, paving the way for its introduction in the ongoing session of Parliament.

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