The indirect tax regime will also incentivise logistics firms to invest more in assets and technology, Transport Corporation of India (TCI) said.
The government has expressed hope that the GST Bill, which is held up in the Rajya Sabha, will be passed in the upcoming Budget session of Parliament.
"The GST will benefit companies operating in the supply- chain business. This shall make logistics firms more efficient besides reducing their actual requirement for commercial vehicles and will help in lowering product prices by approximately 10 per cent," TCI Managing Director Vineet Agarwal said.
"GST will also catalyse investments in IT to help in avoiding delay and detention of trucks, which in turn will not only ensure fast delivery of goods, but will also catalyse the industry towards better fleet utilisation...Which translates into revenue and not overheads," Agarwal said.
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Also, the implementation of GST in conjunction with states will promote the development of logistics parks, and free-trade warehousing zones will speed up formation of regional hub-based infrastructure and an environment conducive for rationalisation of the logistics network, he said.
TCI claims that with its expertise, customer centric approach and extensive infrastructure, it moves 2.5 per cent of India's GDP by value.