Logistics stocks today went up by up to 5 per cent as Goods and Services Tax (GST) regime came a step closer to meet its July 1 rollout target, with the Lok Sabha approving four supplementary legislations.
Arshiya Ltd surged 4.98 per cent, Blue Dart Express jumped 4.24 per cent, Allcargo Logistics (3.28 per cent), VRL Logistics (2.08 per cent) and TCI Express (0.83 per cent) on BSE.
The Central GST Bill, 2017; The Integrated GST Bill, 2017; The GST (Compensation to States) Bill, 2017; and The Union Territory GST Bill, 2017 were passed after negation of a host of amendments moved by the opposition parties.
Touted as the biggest taxation reform since Independence, GST will subsume central excise, service tax, VAT and other local levies to create an uniform market.
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