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major research project (IMPACT OF GST ON LOGISTIC INDUSTRY IN INDIA)

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1 | P a g e
MRPON
IMPACT OF GST ON THE LOGISTICS INDUSTRY IN INDIA
2015-17
MBA( INTERNATIONAL BUSINESS) 2ND YR
GUIDEDBY: S...
2 | P a g e
CERTIFICATE
This is certifying that Mr. Abhilash Hadkar student of MBA 4th
semester. Specializing in Internati...
3 | P a g e
ACKNOWLEDGEMENT
I would like to take this opportunity to express my profound
gratitude and deep regard to my D...
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Logistics sector plays a very significant role in the development of our nation. The Indian logistics industry is expected to grow steadily. But the logistics costs in India are high when compared to developed countries. This is primarily due to complex tax structure and poor infrastructure. Currently the freight that moves across the country is taxed multiple times. So this paper is an analysis of what the impact of Goods and Service Tax (GST) will be on Logistics Sector in India primarily in Transportation, Warehousing and Logistics Service Providers.
More than 150 countries have implemented GST so far.

Logistics sector plays a very significant role in the development of our nation. The Indian logistics industry is expected to grow steadily. But the logistics costs in India are high when compared to developed countries. This is primarily due to complex tax structure and poor infrastructure. Currently the freight that moves across the country is taxed multiple times. So this paper is an analysis of what the impact of Goods and Service Tax (GST) will be on Logistics Sector in India primarily in Transportation, Warehousing and Logistics Service Providers.
More than 150 countries have implemented GST so far.

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major research project (IMPACT OF GST ON LOGISTIC INDUSTRY IN INDIA)

  1. 1. 1 | P a g e MRPON IMPACT OF GST ON THE LOGISTICS INDUSTRY IN INDIA 2015-17 MBA( INTERNATIONAL BUSINESS) 2ND YR GUIDEDBY: SUBMITTEDBY: DR. Ekta Rokade ABHILASH HALDKar
  2. 2. 2 | P a g e CERTIFICATE This is certifying that Mr. Abhilash Hadkar student of MBA 4th semester. Specializing in International Business has undertaken a project entitled “IMPACT OF GST ON LOGISTICS INDUSTRY IN INDIA”. “For the fulfillment and requirement of the degree MBA (full time) of Devi Ahilya VIshwavidhayalaya, Indore for year 2015-17. He is appreciated own his own sincere efforts in collecting the relevant data. He has shown good potential in analyzing the same. Dr. Ekta Rokade School of Economics, DAVV, Indore
  3. 3. 3 | P a g e ACKNOWLEDGEMENT I would like to take this opportunity to express my profound gratitude and deep regard to my Dr. EKTA ROKADE, for her exemplary guidance, valuable feedback and constant encouragement throughout the duration of the project. Her valuable suggestions were of immense help throughout my project work. Her perceptive criticism kept me working to make this project in a much better way. Working under her was an extremely knowledgeable experience for me. I would also like to give my sincere gratitude to all the friends and colleagues who filled in the survey, without which this research would be incomplete. ABHILASH HALDKr SOE DAVV, Indore MBA VI SEM
  4. 4. 4 | P a g e TABLE OF CONTENT S.NO CONTENT PAGE NO. 1 INTRODUCTION 4 2 REVIEW OF LITERATURE 9 3 RATIONAL OF THE STUDY 11 4 OBJETIVE OF THE STUDY 12 5 RESEARCH METHEDOLOGY 13 A NATURE OF THE STUDY 13 B STUDY AREA 13 6 CONCLUSION 42 7 REFERENCES 43
  5. 5. 5 | P a g e Impact of Goods and Service Tax (GST) On Logistics Sector in India Abstract Logistics sector plays a very significant role in the development of our nation. The Indian logistics industry is expected to grow steadily. But the logistics costs in India are high when compared to developed countries. This is primarily due to complex tax structure and poor infrastructure. Currently the freight that moves across the country is taxed multiple times. So this paper is an analysis of what the impact of Goods and Service Tax (GST) will be on Logistics Sector in India primarily in Transportation, Warehousing and Logistics Service Providers. More than 150 countries have implemented GST so far. Keywords: GST, Freight Forwarding, Logistics Service Providers  GST: Goods and service tax “it would be a comprehensiveindirect tax on manufacture, sale and consumption of goods and services throughout India, to replace taxes levied by the Central and State governments.”  VAT: value added tax “indirect tax on the domestic consumption of goods and services” charged by state government  EXCISEDUTY: “is an inland tax on the sale, or production for sale, of specific goods or a tax on a goods producefor sale, or sold, within a country or licenses for specific Activity”
  6. 6. 6 | P a g e  CENVAT : “ Central value added tax ”  MODVAT:”Modified value added tax” Introduction THE ARRIVAL OF GOODS AND SERVICES TAX The Constitution Bill, 2011 amends the Constitution to give the central and state governments the concurrent power to make laws on the taxation of goods and services. The amendment allows for the introduction of a goods and services tax. If Vat is a significant improvement over the local sales tax system, then the Goods and Services Tax will be a major breakthrough towards a comprehensive indirect tax reform in the country. Despite the success of VAT, there are still certain shortcomings in the structure of VAT both at the Central and at the State level. The GST at the Central and at the State level will thus give more relief to industry, trade, agriculture and consumers through a more comprehensive and wider coverage of input tax set-off and service tax setoff, inclusion of several taxes in the GST and phasing out of CST.
  7. 7. 7 | P a g e What is the GST? GST is a comprehensive indirect tax on manufacture, sale and consumption of goods and services at national level. The GST is expected to replace all the indirect taxes in India. At the centre's level, GST will replace central excise duty, service tax and customs duties. At the state level, the GST will replace State VAT. How will it work in India? The GST system is based on the same concept as VAT. Here, set-off is available in respect of taxes paid in the previous level against the GST charged at the time of sale. The GST model has some aspects which are as follows: Logistics is generally the detailed organization and implementation of a complex operation. In a general business sense, logistics is the management of the flow of things between the point of origin and the point of consumption in order to meet requirements of customers or corporations. The logistics of physicalitems usually involves the integration of information flow, material handling, production, packaging, inventory, transportation, warehousing and often security. Logistics Sector in India is highly fragmented. Due to increased industrial activities, the India logistics industry has gained immense significance over the years and a major contributor of Indian GDP. The India logistics industry is projected to grow at CAGR of 15-20% during the financial year 2016 tothe financial year 2020.The primary bottleneck in driving economic growth of this sector is due to multiple tax charged by authorities at interstate check posts. This results in high logistics costs putting extra cost burden on the customers. The logistics costs in India is high (13 per cent of GDP) as compared to developed countries (8-9 per cent of GDP).The India logistics sector is primarily categorized into four segments comprising transportation, warehousing, freight forwarding and value added logistics. Transportation alone holds 60 per cent share of the logistics industry and rest 40 per cent is contributed by Warehousing, freight forwarding and value added logistics.GST implementation will be a game changing event for businesses and particularly for organized logistics players. Experts haveenlisted the benefits of GST as under: • Itwould introduce two-tiered One-Country-One-Taxregime.
  8. 8. 8 | P a g e • Itwould subsumeall indirect taxes at the center and the state level. • Itwould not only widen the tax regime by covering goods and services but also make it transparent. • Itwould free the manufacturing sector fromcascading effect of taxes, thus by improvethe cost-competitiveness of goods and services. • Itwould bring down the prices of goods and services and thus by, increase consumption. • Itwould create business-friendly environment, thus by increasetax-GDP ratio.
  9. 9. 9 | P a g e Review Of Literature Dr. R. Vasant hagopal (2011)2studied,“GSTinIndia:A Big Leap in the Indirect Taxation System” and concluded that switching to seamless GSTfromcurrent complicated indirect tax systemin India will be a positive step in booming Indian
  10. 10. 10 | P a g e economy. Success of GST will lead to its acceptance by more than 130 countries in world and a new preferred formof indirect tax systemin Asia also. EhtishamAhmedand SatyaPoddar (2009)3 studied, “Goods andService Tax Reforms and Intergovernmental ConsiderationinIndia”and found that GST introduction will providesimpler and transparenttax systemwith increasein output and productivity of economy in India. But the benefits of GST are critically dependent on rational design of GST. NitinKumar (2014)6 studied, “Goods andService Tax- A Way Forward”and concluded that implementation of GST in India help in removing economic distortion by currentindirect tax systemand expected to encourageunbiased tax structurewhich is indifferent to geographical locations. MonikaSehrawat, and UpasanaDhanda, “GST In India: A Key Tax Reform” International Journal of Research – Granthaalayah: found that due to dissilient environment of Indian economy, it is demand of time to implement GST. Consumption and productions of goods and services is undoubtedly increasing and because of multiplicity of taxes in current tax regime administration complexities and compliance cost is also accelerating. Thus, a simplify, user - friendly and transparent tax system is required which can be fulfilled by implementation of GST. Nishita Gupta Assistant Professor ,UNIVERSITY OF DELHI “Goods And Services Tax: IT’S Impact On Indian Economy : Concluded that tax policies play an important role on the economy through their impact on both efficiency and equity. A good tax system should keep in view issues of income distribution and, at the same time, also endeavour to generate tax revenues to support government expenditure on public services and infrastructure development. Cascading tax revenues have differential impacts on firms in the economy with relatively high burden on those not getting full offsets. This results in loss of income and welfare of the affected economy. Business Line July3 2016- „Transport Corporationof India: En route to growth‟ The passageof GST bill, when it happens, can spur large warehouserelated investors by logistics providers to derivecost savings fromrouteand warehouse optimization. The joint study report of Transport
  11. 11. 11 | P a g e Corporation of India and India Instituteof Management, Calcutta on operational efficiency of freighttransportation by road suggests thatgovernment shall resolve issues regarding GSTwith varies stakeholders to reduce the stoppage delays that take place for documentation check and tax collections. GirishGang-2014- Basic concepts andfeatures of GST inIndia- International Journal Of Scientific ResearchAndManagement- vol. 2 ISSUE 2 PP 542-549 Introduction of GST would make Indianproducts competitivein the domestic and internationalmarkets. This would instantly spar economic growth. DecanChronicle May 15, 2016 The ambitious GST would help the transportsector in improving its efficiency besides reducing the logistics costs. GSTwill help the country in two areas- logistics cost will come down and efficiency will increaseboth within India and exports. RATIONALE OF STUDY
  12. 12. 12 | P a g e The ambitious Goods and Services Tax (GST) would help the transportation sector in improving its efficiency besides reducing the logistics cost. GST will help transport sector in two areas - logistics cost will come down and two, efficiency will increase both within India and exports. If GST is properly implemented, then it will have a double positive impact on the industry. It has recommended transporters to understand how the new tax regime would impact their businesses and plan their future strategy accordingly . GST would help unify the market, lower incentive to use tax system loopholes, widen tax base apart from improving the productivity of the overall economy. Noting that medium and heavy commercial vehicle (M&HCV) industry in the domestic market was very volatile, the size of the industry was expected to reach 3.42 lakhs units by 2020 from the present 2.33 lakhs units. Majority of the growth will be due to the cargo segment which accounts for 84 per cent of the M&HCV industry. The M&HCV market has put a lot of pressure on bottom-line of the Original Equipment Manufacturers (OEMs). "Therefore as the market revives the OEMs should move away from discounting policy". Objectives Of The Study
  13. 13. 13 | P a g e Objectives of the study: understand the concept of goods and service tax on Logistic & transport. growth factor which affect the Logistic industry and its analysis. over the current taxation system in India. To evaluate the challenges of GST which Logistic industry have to face. The objective of the study is to analyzethe impact of GSTon various sectors of logistics such as warehousing, transportation and freightforwarding because almost 70 percent of the total spent on logistics in India consists of transportation, warehousing and freightforwarding. Research Methodology NATUREOF STUDY:
  14. 14. 14 | P a g e Explanatory research: An exploratory research projectis an attempt to lay the groundwork thatwill lead to futurestudies or to determine if whatis being observed might be explained by a currently existing theory. Most often, exploratory research lays the initial groundwork for futureresearch. Itis based on secondary data of journals, articles, newspapers and magazines. Considering the objectives of study descriptive type research design is adopted to have more accuracy and rigorous analysis of research study. Theaccessible secondary data is intensively used for research study. STUDY AREA: The study is limited to Indian logistic companies and dependent industry . Where necessary willtake the references of other countries taxation system. DATA COLLECTION: Secondary sourceof data will be used for my research like journals, articles, newspapers and magazines. Secondary data refers to data that was collected by someone other than the user. Common sources of secondary data for social science include censuses, information collected by government departments, organizational records and data that was originally collected for other research purposes. Concept of GST and how it work on Logistics & Transport The indirect tax regime in India is not only complex (with multiple taxes applicable on a business) but also widely seen to be inefficient and opaque. One of the features of the current system is that taxes are non-creditable either due to restrictions in the law or because there is no fungibility between central and state
  15. 15. 15 | P a g e levies. Furthermore, as a result of multiple applicable levies, a tax payer engaged in the manufacture of goods, sale of goods and provision of services has to comply with payment, reporting and audit requirements under different tax authorities. Transport and logistics sector will gain from removal of multiplicity of taxes and availment of additional credits. The GST input tax credit will be available across the value chain and prevent tax cascading. The logistic services providers will be able to offset their GST liability not only against the credit received on any services consumed, but also on purchase of goods and capital assets. This will favorably impact the cost structure and hence on profitability of the industry to some extent. It is understood that currently trucks lie idle for 30 per cent to 40 per cent of the time during their delivery schedule due to trade barriers such as entry taxes, local body taxes, octroi (which will get subsumed under GST). As per World Bank estimation Indian corporate can save up to 30-40 per cent of logistic costs incurred due to stoppages at various tolls and check posts (filing of entry permits, compliances under Entry Tax laws and local levies will be done away with). It is also anticipated that under GST regime, logistic time will substantially reduce due to phasing out the border check posts. Clearly there would be improved efficiencies due to reduction of trade barriers. However, the fine print as per the Model GST law does not provide any clarity on the removal of check posts related compliances and it is recommended that representations should be made in this regard so that final law is suitably amended enabling optimization of delivery schedules, lowering operational costs, and consequently enabling competitive pricing. As per the Model GST law there is yet another critical area where clarity is needed. It relates to taxability of international freight. The place of supply provisions for transportation of goods has been defined as the location of the recipient, if the recipient is a registered person. If the recipient is un-registered, the place of supply is where the goods are handed over for transportation. Under the present regime, for transportation of goods by vessel, services provided for the outbound movement of goods i.e. exports, have been zero rated, whereas services provided for the inbound movement of goods i.e. imports, are subject to
  16. 16. 16 | P a g e Service Tax. Further, for transportation of goods by air, the services provided, whether for outbound or inbound movement of goods, are exempt from Service Tax. Under the Model GST Law, it appears that international freight (by air or sea) will be subject to GST, so long as the recipient is located in India. Though zero rated supplies have been defined in the law, the same has not been applied to international freight. It is pertinent that a representation should be made to zero rate international freight under GST, to keep the taxation of freight in line with global practices, with the objective of facilitating international trade. Additionally, representation should also be made that ancillary services used for the export of goods be afforded the same treatment as international freight, i.e., zero rated. This will be in accordance with international practices adopted in Canada, Singapore, the UK and the EU, for the treatment of services ancillary to freight. Currently, transportation services enjoy the benefit of abatement which is also expected under GST regime. However, there is no clarity on taxation of petroleum products which are major inputs for this sector Though Union Finance Minister said petroleum products will be zero rated products and would be brought under GST after approval of GST Council. Yet, it is pertinent that this sector obtains clarity well before the GST is implemented. GST will also bring in scale to logistics companies as there will be a lot of savings, stoppage of wastage and lower delays, said ShashiKiranShetty, founder and chairman, Allcargo Logistics Ltd Top 10 Players in2014 DHL , Bluedart , TNT Express , AgarwalPackers and Movers ,UPS ,FedEx, DTDC ,Gati , Aegis ,All Cargo Ltd.
  17. 17. 17 | P a g e SOURCE: CARE RESEARCH 60% 25% 10% 5% CONTRIBUTUON TO INDIAN LOGISTICS TRANSPORTATION WAREHOUSE FREIGHT FORWARDIN VALUE ADDED LOGISTIC 60% 30% 8% 2% TRANSPORTATION SEGMENTATION ROAD RAIL WATER AIR
  18. 18. 18 | P a g e Logistics growth life cycle 0 50 100 150 200 250 300 350 2014 2015 2016 2017 2020 2009 TOTAL LOGISTIC MARKET: REVENUE FORCASTS AT 9.9% FOR TOTAL LOGISTICS MARKET INDIA 2014-2017 120.4 132.3 145.4 159 FORE CASTED FOR 2020 AT 12.17 CAGR 178.35 301.89 TOTAL LOGISTICS MARKET IN INDIA WAS US$75.19BN, APPROX 6.2% 75.19 REVENUE TOTAL LOGISTICS MARKET ANALYSIS SOURCE: Cygnus Business Consulting & Research In 2009 thetotal logistics marketin India was aboutUs $75.19 billion, representing approx. 6.2% of the country’s GDP. TheCAGR2009-2016 is 9.9% in currenttax systembut after implementation of GSTit is forecasted that CAGR will be 12.17 by 2020. In 2016 logistic contribution to Indian GDP was 15% after implementation of GST it is expect that it will contribute to 17% in Indian GDP.
  19. 19. 19 | P a g e Source: World Bank, Industry, PhillipCapital As Indian logistics majorly dependent on road transportation and fromabove chart we come to know that it is the costliest way of transportation i.e. Rs.1.5 per ton per km.If weare talking about other medium of transportlike Railway and Coastal it will have low cost per ton per km(Rs.) which give indication to low our transportation costby road. Scenario in Indian logistics
  20. 20. 20 | P a g e Rail network:Lots needs tobe done Indian rail network is fourth largestafter the US, China, and Russia. Itis the largest passenger carrier in the world. India has historically had sub‐optimal investment in transportation. In the last 64 years, freightloading has grown by 1344% and passenger kilometres by 1642%, whilerailway capacity (route kilometres) have grownby only 23%! Major changes we expect: Consolidation of warehouses Industry players could consolidate their warehouses and set up larger facilities, which would bring in supply‐chain efficiencies. Current supply‐chain models have to depend more on tax considerations instead of the more logical operational considerations. Tax rationalization is also likely to increase third‐party outsourcing for logistics and lead to companies focusing more on their core competencies.
  21. 21. 21 | P a g e Improved efficiencies due to reduction of trade barriers With the removal of trade barriers, the downtime of vehicles (check‐post inspection, filing of waybills/entry permits, compliances under entry tax laws, and local levies) is likely to reduce. After GST, interstate movement of goods will be subject to IGST, under which all movements will be ‘tax paid’. Additionally, the GSTN will have an audit trail of the movement of goods across state boundaries, which would lead to optimization of delivery schedules and operational costs of transporters, resulting in competitive pricing. Shift in sourcing and manufacturing decisions Currently sourcing and manufacturing decisions are dependent on indirect tax considerations. Under the GST regime, due to fungibility of credits, these decisions will be made from a supply‐chain perspective – which will lead to logistics hubs in new locations. Free‐flowing movement of goods across the country would result in logistics players gaining larger volumes and nationwide contracts from clients. To fulfil large and long‐distance consignments in the new scenario, logistics players would need a significantly larger share of heavy trucks (20+ tonnes); they would also need mini trucks for efficient last‐mile delivery. Currently most logistics service providers have a large share of medium‐sized trucks in their fleet and a very low share of large truck‐trailers or small trucks. Ecommerce and Free Trade Warehousing Zones (FTWZ) Under the present indirect tax regime, the ecommerce industry is facing significant challenges in terms of VAT payments in destination states. Clear guidelines on the taxability of ecommerce transactions would provide much‐needed relief to the ecommerce industry. If GST extends benefits of tax‐free supply to an FTWZ unit for onward exports, these units will be able to attract significant volumes.
  22. 22. 22 | P a g e Emergence of Multimodal Logistics Parks (MMLP) The focus of logistics companies is shifting towards handling multiple cargos and increasing the share of value‐added services. Leading players are setting up Multimodal Logistics Parks (MMLP) instead of simple ICDs/CFS. MMLP are mainly connected with rail network (for efficient handling of large cargo parcels),container yards, and warehousing (with value added services such as cross docking, palletization, inventory management, wrapping, packing, bar coding and labelling). The following table illustrates the expectedbenefits that Logisticsindustry would derive post implementationof GST: Pre GST Post GST Interstate tax burden Currently, eachof India’s 29 statestaxes goods that Not applicable. Uniform taxation and novarying tax move across their borders at different rates apart structures wouldbe allowed across states. from that Corporate state tax of 2% is leviedfor inter-state goods transfer. Nature of the industry Current interstate taxation has resultedin a large With the introductionof GST, there is likelyto be number of unorganized players in this industry. major consolidationinthe industry. It couldsee the Resulting in fragmentedindustry. emergence ofmajor large players who canspanthe entire logistics chain.
  23. 23. 23 | P a g e Logistic time Due to trade barriers such as entrytaxes, local body Improvement in the logistic time after phasing out taxes, OCTROI andother hurdles, trucks lie idle for the border check posts resulting inimprovement in 30 to 40% as per industryestimates duringtheir operationalefficiencythrough quicker and increased deliveryschedule. number of deliveries alongwith reduction in logistic cost duringthe transit. As per worldbank estimation Indiancorporates cansave upto30-40% of logistic costs incurred due to stoppagesat various tollsand check posts. Cost The existinginterstate taxationsystem has forced GST tax will be leviedontransportationof goods and the companies to create and maintain warehouses in full credit will be available oninterstate transactions. each state. Currently, there are around 20-30 Logistic costs are expectedto be decreasedby1.5- warehouses per company, one in everystate, in 2.00% of sales on account of optimization of addition to this 20-30 Carry& Forwarding agents per warehouses leading to lower inventorycosts which state making the supplychainlonger andinefficient. are set up across states to avoidpaying2% corporate sales tax and phasing out of interstate salestax. There is immense scope for optimizationof costs. The rollout of GST, in India would dissolvethe existing indirect tax structure, ie, multiple taxes that is being split between center and state governments leading to reduction of about 20% of currentlogistic costs.
  24. 24. 24 | P a g e What impact GST will have on pricing of products as comparedto current scenario? . Let us take an EXAMPLE to understand this clearly COMPARISION BETWEEN MULTIPLE INDIRECT TAX LAWS AND GST PARTICULARS WithoutGST WithGST Rs. Rs. MANUFACTURETO WHOLESALER COST OF PRODUCTIO 5 OOO 5000 ADD: PROFITMARGIN 2000 2000 MAFT. PRICE 7000 7000 ADD:EXCISEDUTY@12% 840 TOTAL VALUE(A) 7840 7000 ADD:VAT@12.5% 980 ADD:CGST 12% 840 ADD:SGST@12% 840 INVOICEVALUE 8820 8680 WHOLESALER TO RETAILER COG TO WHOLESEALER(A) 7840 7000 ADD:PROFITMARGIN@10% 784 700 TOTAL VALUE(B) 8624 7700 ADD: VAT@12.5% 1078 ADD: CGST 12% 924 ADD: SGST 12% 924 INVOICEVALUE 9702 9584 RETAILER TO CONSUMER: COG TO RETAILER(b) 8624 7700 ADD: PROFITMARGIN 862.4 770 TOTAL VALUE (C) 9486.4 8470 ADD: VAT@12.5% 1185.8 - ADD: CGST 12% 1016.4 ADD: SGST 12% 1016.4 TOTAL PRICE TO CONSUMER 10672.2 10502.8 COST SAVING TO CONSUMER - 169.4 % COST SAVING - 1.59
  25. 25. 25 | P a g e Notes:· Input tax credit availableto wholesaler is Rs.980 andRs.1,680 in case of without GST and with GSTrespectively. · Likewise Input tax credit available to Retailer is Rs.1,078 andRs.1,848 in caseof without GST and with GST respectively. · In case, VAT rate is alsoconsideredtobe 12%, the saving to consumer would be 1.15%. - You can note that the tax paid on sale within state can be claim against tax paid on sale outside state in GST system, which is not in present tax system. The credit of CGST cannot be taken against SGST and credit of SGST cannot be taken against CGST but bothcredits can be taken against IGST
  26. 26. 26 | P a g e Growth drivers for the logistics sector The major drivers for logistic players are implementation of GST for efficient tax system, growth in retail and e‐ commerce, and a revival of water and rail transport. India’s logistic and warehousing industry presents a big opportunity – with growth in consumption along with infrastructure and regulatory support from the government. The Make in India movement and ease of doing business will revive growth in the industry and in services, resulting in increased movement of goods and services. We expect a significant pick up in investments in transport and logistics ahead, with the government focused on reducing cost of logistics and increasing the competitiveness of Indian exports. Demand drivers are also affecting the need for logistics. The changing dynamics of the retail industry has shifted the focus from supplier to consumer and delivering products in less time is gaining importance. Retailers are now maintaining steady flow of stock, as delay in the delivery of products could threaten their entire business model. Focus is on real‐time inventory management and order placement and retailers are becoming heavily dependent on smooth and efficient supply management. Rapid industrial growth: Rapid growth in industries such as automobiles, Pharmaceuticals, fast-moving consumer goods (FMCG) and retail has significantly increased the demand for movement of consumer and capital goods across the country, fromentry ports to manufacturing or distribution locations or from Manufacturers and distributors to consumers and exit ports. The volume of freight traffic is positively related to the GDP of the country. Therefore, as the GDP increases, the volumegoods’ movement is expected to increase through all modes. During the period from2007-2012, theagriculture and manufacturing GDP haveincreased fromUS$ 263.6 billion toUS$ 290.7 billion at constant prices. The corresponding increasein freight traffic was from1.3 trilliontonne kilometres (TTK) to 2.1 TTK. Globalisation: With the growing integration of India’s economy with the world, the country’s totaltrade has grown at a CAGR of about 20 per cent fromUS$ 57
  27. 27. 27 | P a g e billion in 1997-98 to US$ 862 billion in 2012-13.Theinitiative to constructa trilateral highway connecting India, Myanmar and Thailand represents an Importantstep in the establishment of connectivity between India and Southeast Asian countries. The highway is expected to be operational in the year 2015-16 and is likely to boost trade ties of India with other countries. The increase in international trade has effected corresponding growth in cross- border freight traffic, thereby, adding to demand for logistics services. Government initiatives: The Government of India has initiated several policy measures and programmes to attract investments in developing the logistics infrastructure of the country. Some of the key reforms undertaken by the Government of India include the following: FDI regulations: The government allows 100 per cent FDI under the automatic route for all logistics services, except air cargo and courier services. For air transportservices including air cargo services, the limit was increased from 49 per cent to 74 per cent in 2008. Also, FDI of up to 100 percent is permitted for courier services, subject to Foreign Investment Promotion Board (FIPB) approval. Greater investments in development of logistics infrastructure: The government has significantly increased the investment allocated for the development of logistics infrastructureincluding ports, airports, nationalhighways, logistics parks, freight stations and corridors. Private sector partnerships: Several measures have been undertaken by the Government of India to encourage private sector participation in the logistics industry across all modes. These measures include increasing targeted contributions of private players in the investments set aside for the development of logistics infrastructure, tax exemptions and duty free imports. Apart from speeding up capacity creation, this is also aimed towards incorporating latest technologies and bettermanagement practices. Streamlining indirect tax structure: The proposed introduction of the Goods and Services Tax (GST) is expected to significantly bring down the total costs of the logistics industry. At present, most companies have set up multiple small warehouses of size 4,000-10,000 sqft across the country to save taxes on inter- state movement. But with the implementation of GST, the need to have several small warehouses is likely to be mitigated in favour of larger and consolidated warehouses at strategic locations.
  28. 28. 28 | P a g e GDP •Overall GDPgrowth,increasedindustrial activitiesandexport‐importtrade •Make inindia •Ease of doingbuisness Infra‐structure •• Logisticsparks,SEZ,FTW •Dedicatedfreightcorridorsforefficientrail movement •Road network •Developemtof waterwayswithcoastal andinlandwaterways •Developmentof regionaltransporationlinksinSouthAsia GST •Inplementationof GoodsandService tax •supportfromstate and central governemnt Organised structre •IncreasedFDI,entryof foreignplayers •Increasingfocuson3PL activitiesandcostcompetitiveness •Ecommerce Outsourcing of logistics: The logistics industry stands to benefit from the increasing trend of outsourcing the logistics and warehousing function to third party service providers. This function was traditionally performed by the organisations themselves. However, corporate entities recognise the benefits associated in engaging a third-party logistics provider for integration of information flow, material handling, production, packaging, inventory, transportation, warehousing and often security. This allows corporate entities to concentrate on their core business and also avail of significant discounts through outsourcing.
  29. 29. 29 | P a g e  Impact of GST on Warehousing Warehouses are an important in the supply chain. growth in production and organized retail, the major segment which contributes towards the Indian logistics industry is the warehousing sector. A warehouse placed strategically not only improves the levels of customer service but also reduces the burden on other supply chain elements. The implementation of GST will play a major role in the warehousing sector. The current tax structure is quite complex – there are central level taxes in form of excise, customs duty and Central Service Tax, and then the are varying state level taxes in form of VAT and other levies like Octroi, state level Cess, etc. The problem is that, state level taxes are applicable on top of central taxes. Which means the manufacturer/supplier is paying taxes on taxes. Only way to avoid this multi tax scenario is to create a state transfer between industry stocking points within states.Hence, most industries - like manufacturing/third party logistics players - generally have warehouses/offices in each state to reduce tax burden of Central Service Tax (CST). Thus, planning is more driven by logic of saving taxes, rather than achieving operational efficiency. So currently, most of the companies operate with multiple warehouse strategy, having different warehouses in different states, to avoid interstate taxes. With GST in place, India will become a common market without any difference between interstate or intrastate sales. It will allow companies tooperate a large central warehouse rather than operating multiple warehouses. Hence, the companies will be forced to re-engineer their business operations to leverage efficiencies of scale, locations, warehouses and routes. The networks associated with warehousing and transportation hubs will the impacted the most in the supply chain. The location of warehouses will change to ensure proximity to manufacturing hubs or consumption markets. This would allow companies to expand their existing warehouses, develop new warehouses or indeed shut down several existing setups.
  30. 30. 30 | P a g e Let‟s look at two scenarios thatshow how a consumer goods (CG) manufacturer sells its goods to the distributor and how that impacts the location of the warehousein a non GSTenvironment. Scenario- A:Intrastate Stocks Transfer Sale Let‟s assumea firmoperates a warehousein another state and does a stock transfer of its goodsto the warehousebeforeactually selling it to thedistributor in thatstate. According to the currenttax laws, this transfercarries no CentralSales Tax (CST) sinceno sale hasbeen realized. In this case the VAT is applied onlyafter a sale is made to a distributor using thewarehouse. Also, the VAT paid by the distributor tobuy from the warehouseused as an input tax credit.
  31. 31. 31 | P a g e Scenario- A:Intrastate Stocks Transfer Sale Let‟s assumea firmoperates a warehousein another state and does a stock transfer of its goods to the warehousebeforeactually selling it to the distributor in that state. According to the currenttax laws, this transfer carries no Central Sales Tax (CST) since no sale has been realized. In this case the VAT is applied only after a sale is made to a distributor using the warehouse. Also, the VAT paid by the distributor to buy fromthe warehouseused as an input tax credit. This scenario is shown in the following table. TABLE-I Scenario: A Intrastate Stocks Transfer Sale Margi n Input Price Total Full Supply Landed (INR) VAT before Tax Price Tax (INR) (INR)Chain Point Cost (INR) VAT CS T (INR) Firm 400 100 0 500 0% 0% 0 500 . Warehousing 500 0 0 500 4% 0% 20 520 Distributor 520 40 20 540 4% 0 21.60 561.60 Retailer 561.60 30 21.60 570 4% 0% 22.80 592.80
  32. 32. 32 | P a g e Scenario-B:CSTSales to Distributor Let‟s assumethe firm decides to sell its goods directly to the distributor located in another state without holding in that state. In this case, the firm pays CSTon this interstate sale. The restof the transactions in the supply chain remain the same. TABLE-II Scenario B- CST Sales to Distributor Supply Landed Margin Input Price Total Full Chain Point Cost (INR) VAT before GST Tax Price (INR) (INR) Tax (INR) (INR) (INR) Firm 400 100 0 500 4% 20 520 Warehousing 0 0 0 0 0% 0 0 Distributor 520 40 20 540 4% 21.60 561.60 Retailer 561.60 30 21.60 570 4% 22.80 592.80  Impact of GST on Transportation GST will have double positive impact in transport sector in India. India moves by road and time spent at interstate check posts due to difference in taxes between states accounts to idle time (60% of total journey time) which will get eliminated in GST regime. Hence, transport time would reduce by 30-40 per cent and transport costs by 20-30 per cent leading to fall in prices by 3-4 per cent which will, in turn, reduce costs for customers and logistics companies, making the latter more efficient and profitable. Supply will also be able to match demand to a large extent. With lesser paperwork goods will be transported faster, with far lesser check points. Hence the ambitious GST would help the transport sector in improving its efficiency within India and exports besides reducing the logistics costs.
  33. 33. 33 | P a g e However, since petroleum products are kept outside the scope of GST currently, and since nearly 50% of all goods transported is motor spirit, some of the benefits of GST may not reach end customer.  Impact of GST on Thirdparty Logistic service providers (3PL): Post GST implementation the 3PL’s would have to restructure its assets and realign its operations in line with changes in the operations of its customers in the new scenario. Currently, 3PL’s have warehouses located near major distribution centers of its key clients (different industries) irrespective of its geographic disadvantagemainly to avoid interstate taxes. However, post GST implementation 3PL’s are expected to build integrated warehouses at logistic suitable locations. So accordingly, 3PL’s would have to restructure the assets to accommodate the long distance consignments which will occur with this scenario of free movement of goods across the country. The consumer durables sector is expected to witness maximum drop in the logistics costs as percentage of total sales, as their warehouses are built at different states to avoid interstate tax. Mostly, the consumer-oriented industries are going to have high impact of GST on its operations model rather than capital intensive industries. The following table shows the role of 3PL in India as compared with other countries TABLE IV Role of 3PL in India Country Logistics Role of 3PL Cost/GDP India/China 13-20% Less than 10% US 9-10% 60% Europe 10% 30-40% Japan 11% 80%
  34. 34. 34 | P a g e 2016 INDIAN LOGISTICS COSTS TRANSPORTATIONCOST $BILLION ChangesafterGST FULL TRUCK LOAD 278.8 LESS THAN TRUCK LOAD 63.7 PVT.OR DEDICATED 240.1 MOTOR CARRIERS 582.6 PARCEL 82.2 CARLOAD 60.8 INTERMODAL 19.9 RAIL 80.7 AIRFREIGHT 67.4 WATER 47.6 PIPELINE 29.5 SUBTOTAL 889.9 667.425 INVENTORYCARYING COST OTHER(SHRINKAGE,INSURANCE,HANDLING) 128.2 STORAGE 141 FIN.COST(WACC*TOTALBUSS.INVENTORY) 158.1 SUBTOTAL 427.3 410.208 OTHER COSTS CARRIERS'SUPPORTACTIVITIES 45.7 SHIPPERS'ADM.COSTS 45.3 SUBTOTAL 91 59.15 TOTAL INDIAN BUSS.LOGISTICSCOSTS 1408.2 1136.56 result19 SOURCE: SUPPLYCHAIN DIGEST The total cost of INDIAN logistics was estimated at $1.408 trillion for 2016, up $30 billion or so in 2014 under the new calculation. A lot of elements go into that number, from warehouses to trucking to pipelines, but as can be seen the three main categories are inventory carrying costs, including the costs of warehousing (30.3% of the total logistics spend in 2016), transportation costs (63.2%), and administrative costs, mostly related to spend on freight forwarders and logistics IT spend not otherwise captured in the other two categories (just 6.4% of the total). Within transportation, trucking-related spend (including private fleets but excluding parcel) comprise 65.4% of total transport costs and 41.3% of total
  35. 35. 35 | P a g e logistics spend. Parcel was broken out for the first time this year as a separate cost category, estimated at $82.2 billion in total, or 9.2% of transport costs and 5.8% of total logistics. At $80.7 billion in 2016, rail comprises 9% of transportation spend and 5.7% of the total logistics costs. Fromabove impact analysis wecome to know that the transportation cost, ware housing costand freight forwarding charges is come down up to 25% ,4% and 30% respectively. If wecan make these changes to 2016 data we will get a imaginary resulted data which gives us a idea that how much we can savein logistic cost after GST implementation. After making changes in the transportation, warehousing and freightforwarding cost weget the new Logistic costof India i.e $1136.56 bn which is 19.27% less than the 2016 originalcostincurred by Indian logistic.
  36. 36. 36 | P a g e Current Issues and Challenges of Logistics industry in India The logistics costin India is high as compared to developed countries. This is due to varies issues and challenges faced by this industry. Apartfrombeing entangled in complex tax structure, the key challenges of logistics are truck regulations, poor infrastructure, trained, manpower, lack of training institutions and information and communication technology poor warehouseand storage. In currenttax systemgoods moveacross the countries border at differenttax rates. Due to this, freight movement which happens within the country is taxed multiple times. Moreover, there are long queues at interstate check posts, as the authorities examine the freight which is moved and levy taxes which are applicable. Truck delays amount to 6-7 hours of wait time at interstate check posts which includes lot of manual work by the authorities. Since 65% of the freight in India moves by road, it is a fact which leads to see the logistics experts to look into the GST as a crucial area of concern in India. Major Challenge -To sail the GST bill through the headwinds of political and democratic embroilment: The GST bill although has passed its acceptance through Lower House in May 2015 after religious deliberations, it is yet to be passed by the upper house of the parliament (Rajyasabha). Post this, bill has to be passed through respective state governments in state assemblies and it has to be ratified by at least 50% of them. Once the bill receives approval from majority of the state assemblies, the government has to arrive at a revenue neutral rate so that the implementation of the proposed new tax structurewill not havenegative implications on revenues of states and central. Furthermore, the government has to formulate the principles for levy or exempt of the tax in the course of interstate trade with consistency and relevancy the rules for ‘Place of supply’. After traversing through all the aforementioned phases, once the draft GST bill is out, the Central government has to compile all the views of the stakeholders and make an error- free and uniform GST legislation. The hurdles and milestones which the bill has to face and cross before it is actually implemented is a tedious and time guzzling task at every stage of passage lest there is drive to expedite the same. Apart fromabovethe success of GST depends upon robust IT network connecting all the state governments, trade, industry, financial institutions, etc. The development of real time business model by the special purpose vehicle in the
  37. 37. 37 | P a g e name of Goods and service tax network (GSTN) promoted by Government of India, various state Government bodies and non-Government financial institutions plays a vital role. Challenges Faced by Logistics Industry in India 1 Transport Related Challenges In India road has become predominant mode of transportation of freight cargo. Estimate of the modal movement of cargo highlights that in India nearly 60.2% of the cargo is moved by road, 32.1% by rail, and rest by the coastal shipping, airways and inland waterways. Pipelines constitute a very minor proportion. Figure: 2 It is recognized that movement of long haul bulk traffic by road is less efficient than by rail. But road is still preferred over rail because: 1. Important rail networks are over saturated- There has been little improvement in the track infrastructure since independence. While route kilometerhas grown
  38. 38. 38 | P a g e only at a CAGR of 3%, incorporating additional lines on existing routes has not fared much better growing at a low CAGR of 6.6%. During the same period freight and passenger traffic has grown at a CAGR of nearly 55%. This had led to most high density corridors becoming oversaturated. 2. Rail freight tariffs are high- Indian railways follows a policy of subsidizing passenger tariff by freight tariff. This has resulted in sharply rising trend in railway freight rate over the years compare to little increase in passenger tariff rate. The result of this has been that Indian rail freight rates have already become one of the highest in the world. 3. Transit times are long and uncertain- Freight traffic is frequently subordinated to passenger traffic on the railway network. This results in a freight train taking as much as 6-8 days for a journey of 2000kms. Also there is no guarantee on the transit time for freight trains. 4. Rail terminal quality is poor- Most rail terminals (goods shed) used for loading/unloading of freight are antiquated. They also suffer fromissues of access and evacuation of traffic. 5. Less flexibility in carrying different types of products- Special wagons are not easily available for carrying specialized products. For eg- Special types of steel required for automobile production have to be carried by trucks as the existing wagons do not offer the kind of protection that these high value products require. 6. Railway carriage not easy for industry which cannot provide full train loads- Railways have a preferencefor customers who can provide full train load as unlike in some other countries, railways in India no longer run mixed trains which can carry different types of cargo due to operational inefficiencies. While Road movement is preferred to rail, road movement has its own set of challenges. They are: 1. Road network coverage- Freight movement in India is dependent on national highways. While NH constitutes only about 2% of the road network of India, they carry 40% of total traffic. As a result most of these highways are severely congested resulting in freight travelling only a third of the distance compared to developed countries. 2. Poor road quality- The road quality in India, on the NHs as well as the roads is improving but is still poor in many locations. Estimates suggest that motor able roads are still less than 10% of the total road network.
  39. 39. 39 | P a g e 3. Expressway network will take time to develop- In many developed countries expressway s have been developed to facilitate high speed freight movement through linking of important cities, ports and industrial centers. In India the expressway network is still largely at a planning stage with a target of development of around 15000Kms of expressway only by the end of 13th plan period. 4. High level of fragmentation of the trucking industry- The trucking industry in India is largely fragmented and in the hand of small truck operators. Estimates suggestthat nearly 70% of the truck owners in India own between 1-5 trucks. Due to this there is fierce competition amongst operators leading to truck owners resorting to overloading to recover investments. 5. Multiple checkpoints- Trucks in India have to pass through multiple check points in their journey. Trucks have to stop at state borders, for payment of toll taxes, for RTO inspections etc. 2 Issues of Port Sector 1. High turnaround times- Data from Indian ports association shows that ports in India suffer from high turnaround times for ships. JNPT, the premiere port in India, has more than two times the turnaround time of Colombo and Singapore ports because of congestion on berths and slow evacuation of cargos unloaded at berths. 2. Inadequate depth at ports- The depth at many ports in India is not enough and dredging tenders take a long time in getting awarded. As a result with the existing dates many ports are unable to attract very large vessels. 3. Coastal shipping has not taken off- Coastal shipping in India is hampered by inadequate port and land side infrastructure which hampers large scale use of it for freight movements. 3 Storage Infrastructures Related Challenges In addition to the poor transportation infrastructure the storage infrastructure in India also needs significant improvement. Main reasons for this are: 1. State of ICD/CFS is poor- The ICD/CFS infrastructure available for EXIM trade isinadequate. The land requirement for setting up ICD/CFS atan appropriateplace is difficult to come by as several hurdles have to be cleared in the consolidation of
  40. 40. 40 | P a g e land. As a result many logistics companies with an interest in setting up ICD/CFS eventually fail to do so. While it is difficult to set up a facility, at the same time the existing facilities are plagued with severalissues: - Many of the older facilities today are located within city boundaries restricting day movement of trucks. - The approach roads to the facilities are poor making evacuation of cargo difficult. - Most facilities have issues of inadequate parking, lack of available land for expansion etc. 2. State of warehousing is poor- Various estimates put warehousing costs to be around 10% of the total logistics costs. Despite this the state of warehousing is largely dismal. On the warehousing front 80-85% of warehouses are traditional with sizes of less than 10,000sqft. Most of these warehouses are not leak proof, equipped with security systems, racking facilities etc. Majority of the operators of these warehouses are also small to mid-sized entrepreneurs with limited investment capacity, The only large warehousing owners are government agencies including central warehousing corporation and state warehousing corporations, but their focus is mainly on food grain storage. There is also shortage of warehouses. This is because land availability for warehousing at an appropriate place and at an appropriate price is a concern. Table: 1
  41. 41. 41 | P a g e 3. State of cold storages is poor- Despite the significant requirement of cold storages from the retail sector, pharmaceutical and chemical sector and the farm sector, where it is estimated that up to 40% of the fruits and vegetables grown in India gets wasted, receptor needs to grow much faster to meet the needs. 4. Multi-modal logistic parks yet to take off- With emerging requirements of integrated logistics, provision of transportation hub, value addition etc. large logistics park were sought to be developed. However as with other areas the number of such facilities continues to remain much less than the requirement. Consolidation of large land parcels is a significant issue hampering their development. Other issues include the lack of recognition of the concept of logistic park by government. 4 Tax Structure Related Challenges A complicated tax regime places several challenges on the logistics industry. Payment of multiple state and Centre taxes results in: 1. Considerable loss of time in transit for road freight in order to pay such taxes. 2. Fragmentation of warehousing space especially for low margin products thereby providing a disincentive to create a large integrated warehousing space. A uniformtax structureto be introduced through the GST is being highlighted as the panacea for the existing situation. If implemented in spirit GST will enable logistics services to be provided without consideration for ex boundaries. 5 Technology and Skills Related Challenges The logistics industry is also hampered by low rates of technology adoption and poor skill levels. On the technology front the industry now seems to be paying serious attention with use of RFID, vehicle tracking technologies, warehouse management system etc. While acceptance is perhaps is not an issue anymore, the marriage between IT and domain requirement needs to be resolved. Automation in processes is still only in its infancy. Further progress is dependent on a certain level of standardization which is made more difficult by the fragmentation in the industry. This drawback needs to be tackled at the earliest. In addition to the technology related issues the skill levels of in the logistic industry also require to be upgraded urgently. As now courses focusing on logistic industry remain few and far between. Also logistic industry is still not looked at as
  42. 42. 42 | P a g e the industry of choice for young graduates thereby making hiring of quality professional manpower challenging. Some of the skills required in this sector are technology skills, driving skills including safety procedures, industry understanding and multi operator’s skills.
  43. 43. 43 | P a g e MAJOR FINDINGS  After making GST changes in the transportation, warehousing and freight forwarding costweget the new Logistic costof India i.e $1136.56 bn which is 19.27% less than the 2016 original cost incurred by Indian logistic  As Indian logistics majorly dependent on road transportation and from above chart we come to know that it is the costliest way of transportation i.e. Rs.1.5 per ton per km.  . In 2016 logistic contribution to Indian GDP was 15% after implementation of GST it is expect that it will contribute to 17% in Indian GDP.  The good and services become cheaper because of input credit available at the whole supply chain process.  Infrastructure is not adequate to boost rapidly logistic sector after implementation of GST, it will take time.
  44. 44. 44 | P a g e Conclusion From the above analysis it is clear that the implementation of GST will have a significant impact on logistics sector in India. If GST is properly implemented, then it will have a double positive impact on the logistics industry that is logistics costs will come down and logistics efficiency will increase both within India and exports. So the main objective of logistics management, that is customer satisfaction at least logistics costs, will be achieved with the implementation of GST. The GST implementation will also leads to emergence of organized service providers since taxes will not be added costs for the business. In the current scenario the logistics sector is a highly fragmented industry with very few large organized players. The unorganized sector would have to shape up and join hands with the organized players for setting up economies of scale. In a nut shell, the successful implementation of GST could reduce transportation cycle times, enhance supply chain decisions, lead to consolidation of warehouses etc. which could help logistics reach itspotential in terms of service and growth. So it will be great boom for the logistics sector which leading to accelerated economic growth. GST has the potential to accelerate growth in the logistics industry. However, its complete impact can only be understood after the announcement of the draft GST Law and Rules. Nevertheless, GST is still the change the logistics industry is eagerly awaiting as overall, the positive impact of GST far outweighs the disadvantages for this industry.
  45. 45. 45 | P a g e REFERENCE Monika Sehrawat, and UpasanaDhanda(2015):, “GST In India: A Key Tax Reform” International Journal of Research – Granthaalayah, Vol. 3, No. 12(2015): 133-141 The Empowered Committee Of State Finance Ministers (2009), First Discussion Paper On Goodsand Services Tax In India, November 10, 2009. Nishita Gupta[Year - 2014], Goods And Service Tax: It’s Impact On Indian Economy, Volume 5 Issue 3 Juhi Khan (2016) _ LinkedIn, How can GST impact on Logistics Industry in India Jones Lang LaSalle Property Consultants (India) (2015),Indian logistics - Taking giant leaps forward. Dr. R. Vasanthagopal (2011), “GST in India: A Big Leap in the Indirect Taxation System”, International Journal of Trade, Economics and Finance, Vol. 2, No. 2, April2011. EhtishamAhamad and SatyaPoddar(2009), “Goods and Service Tax Reforms and Intergovernmental Consideration in India”, “Asia Research Center”,LSE, 2009. Nitin Kumar (2014), “Goodsand Service Tax in India-A Way Forward”, “Global Journal of Multidisciplinary Studies”, Vol 3, Issue6, May 2014.
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