GST Bill | Pixr8 News

Cab rides could get marginally cheaper for customers from July 1 as the incidence of tax will come down to five per cent for bookings made on cab aggregators like Ola and Uber. Currently, a tax of six per cent is levied on rides booked through cab aggregators. "Such reduction is a welcome move for cab aggregators and consumers considering the increased demand of services of cab aggregators," Deloitte Haskins & Sells Senior Director Saloni Roy said. It shall accordingly provide a further boost to the already thriving operations of cab aggregators, she added. The introduction of services by cab aggregators has seen manifold growth due to the ease and reasonableness of prices at which the services are offered. "The GST rate on cab aggregators is proposed to be at 5 per cent...

Logistics sector, which accounts for nearly 14 per cent of the GDP, could see savings to the tune of USD 200 billion annually on implementation of GST, which will ensure faster movement of goods and less idle hours, say experts. With the introduction of Goods and Services Tax, many taxation procedures will come down, nearly halving the cost of inventory as customers will not need to pile up stocks in different warehouses, say experts. "For a USD 2-3 trillion dollar economy, this could mean a potential of USD 200 billion wasteful inventory spent being available to deploy in productive value creation and further propelling the economy's growth," said Deepak Garg, founder of logistics firm Rivigo. Describing the passage of the GST bill in Rajya Sabha as a "positive reform", apex transpor...

Tag: GST Bill

Ola, Uber Rides Could Get Cheaper Under India’s GST Bill

Logistics Company’s Could Save $200 Bn Annually Post GST