The Transportation & Logistics (T&L) is the backbone of the Supply Chain ecosystem. In India, this industry is projected to grow at 9-10 percent per annum from $115 billion to $360 billion by 2032. However, this projection will hold ground only if the industry is able to quickly adapt to the changing taxation landscape in the country.
writes Amit Parmar, SVP – GST Platform, Vayana Network
writes Amit Parmar, SVP – GST Platform, Vayana Network
Till date, the logistics industry was spending 50-60 percent of its time on tax compliance, inter-state checkpoints maneuvering, scrutiny, and tracking of inter-state sales tax, etc. So,a new ecosystem was designed for the logistics industry based on the GST (Goods and Services Tax) framework to reduce the overall time spent on tax compliance using technology.
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