 "manufacturing, Freight rate, GST Revamp")
With the Goods and Services Tax (GST) Council rationalising rates on several key tenets in the logistics sector, including trucks, the industry expects cost savings if original equipment manufacturers (OEMs) pass on the benefits.
“The reduction in GST rates on trucks, tyres and insurance stands to reduce our cost of acquisition by about 10 per cent. We are hopeful that the OEMs will pass on the benefit to us,” said Pradeep Singal — chairman of All India Transporters Welfare Association.
According to Singal and several other truck operators, the road logistics sector is so competitive that passing on benefits is
