According to the survey conducted by the road transport and highways ministry, it was found that after the introduction of Goods and Services Tax (GST) across the country, transport industry and truck owners will be saving approximately Rs 30,000 crore yearly.
State levies at check- posts have been removed after the roll-out of the new indirect tax regime. Due to the removal of state levies at check- posts, it now takes reduced travelling time nearly by 20% of truckers and other cargo vehicles on highways, said in a survey. By adding that truck owners could save up to Rs 1.5 lakh annually and lesser time means it would consume lesser fuel.
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According to a top ministry official said, “The initial ground surveys in the first month (July) showed that a truck doing a 2,000 km round trip in a week was able to save 40-45 hours of travel time.” By adding that, “Per trip saving has been around Rs 5,000 on account time and fuel saved. Trucks are not languishing at state border check-posts anymore.” Officials also said that, In India, nearly 12 lakh trucks are operating with a national permit and about the same number, with an interstate permit.
After the implementation of the new indirect tax regime, few state governments and union territories have demolished state levies at border check- posts functioned by the indirect tax administrations, reducing the time required for the transition of goods across the states.
Currently, the government is working on the implementation of GST e- way bill and soon it will be implemented in the transport industry. According to the officials, In upcoming months, E- Way bill will be necessitated for movement of goods across the states and will boost the savings. Through E- Way Bill, the central and government will be able to keep an eye on factory output and intrastate transportation of goods. E- way Bill will also provide more specific and accurate data connected with consumption across the country.