Breaking News

You are here » Indian-Commodity  :  Economy  :  Impact of GST on logistics positive but GSTN portal glitches, compliance major concerns: FICCI


Impact of GST on logistics positive but GSTN portal glitches, compliance major concerns: FICCI

Assessing position of the industries post the implementation of Goods and Services Tax (GST), industry body, the Federation of Indian Chambers of Commerce and Industry (FICCI) in its latest survey report stated that the new tax regime has had a positive impact on the logistics of businesses, with over 60% respondents indicated good transportation of goods in terms of check-posts. As per the survey report, over 50% of respondents highlighted that goods vehicles are no longer stopped and there is no checking at state borders, while 59% respondents were optimistic with transportation time reduction post GST implementation.

However, FICCI's survey report highlighted the major issues being faced by the industry such as glitches in the Network (GSTN) portal, cumbersome procedures and cost of compliance. In the report, issues with the robustness and volume handling capacity of the GST portal were pointed out by all the respondents of the survey and expressed need for a major revamp of the portal, to make it more efficient.

The survey report further said that multiplicity of registrations remained a concern for services providers, as a separate registration is now required with every state where service is being provided. On the return filings, the survey respondents urged to make filing of returns simpler and added that there should also be a centralised registration for inter-state services.

Related News

View all news

India's economy to grow at 7.5% in 2019, 7.7% in 2020: IMF

The International Monetary Fund (IMF) in its January World Economy Outlook update has said that India's economy is expected to grow at 7.5% in the 2019, keeping an upward trajectory as the rest of the......

India has potential to be $5 trillion economy in next 7-8 years: Suresh Prabhu

Expressing confidence over growth of Indian economy, Union Commerce and Civil Aviation Minister Suresh Prabhu stated that India has potential to be a $5 trillion economy in the next 7-8 years. He added......

Working group recommends measures to attain $5 trillion economy by 2025

In order to increase the size of India's economy to $5 trillion by 2025, a working group of the Commerce and Industry Ministry has come out with a blueprint suggesting a bunch of lengthy and short-term......

Top News

View all news

RPP Infra Projects bags orders worth Rs 62.90 crore from BHEL

RPP Infra Projects has bagged orders from Bharat Heavy Electricals (BHEL), Chennai for worth of Rs 62.90 crore. The first order is for providing civil works of Boiler, Mill and Bunker, ESP area of unit......

Glenmark gets tentative ANDA approval for Abiraterone Acetate Tablets

Glenmark Pharmaceuticals Inc., USA (Glenmark) has been granted tentative approval by the United States Food & Drug Administration (USFDA) for Abiraterone Acetate Tablets USP, 250 mg, a generic......

HDFC Standard Life Insurance reports 18% rise in Q3 net profit

HDFC Standard Life Insurance has reported results for third quarter ended December 31, 2018. The company has reported a rise of 18.48% in its net profit at Rs 245.63 crore for the quarter under review......