As we all know Transportation plays a significant role in our economy, as any difficulty in transportation obstructs the entire business channel. In this blog, we will discuss the Transportation system in India. |
Before knowing about the transport services, now you need to ensure some facts about the "Transport"
Know About Transportation?
The transport system of a country belongs to the different means which carry men and material from one place to the other. Also, it helps in the development of trade, commerce, and industry. Transportation also eliminates the hindrance of place and facilitates the movement of goods from producers to consumers. Although, for all transport services GST Registration is compulsory for registering business on transportation.
Now, we discuss the types of Transportation -
As we know railway is the most prominent form of the transport system. As the first railway line was laid between Bombay and Thane in 1853. After that, rail services have developed a lot. Indian railway at now is the country’s single largest undertaking with a total capital investment of around Rs. 20,000 crores. It is the highest in Asia and ranks fourth in the world. It gives direct employment to nearly 18 lakh persons.
Road transport also plays an important role in the country’s transport system. Besides the fact that the social and economic development of the country depends on the development of road, there is also an important link of bringing about the sentimental integration of the common masses.
The fastest means of transport is Air Transport. There are several favorable conditions for the development of Air Transport in India. Credit goes to India for inaugurating the first Air Service Asia in 1914 by Post and Telegraph Department by carrying mail from Allahabad to Naini crossed the Ganga River. But the real progress was made during World War II.
So, GST is significant in all three modes of transportation. As we know GST on the transport of goods and multiple GST rates ranging from nil to 18%. In the following sections, we will consider various aspects of the applicability of GST on the transportation of goods or passengers. Furthermore, read more for GST on Transport.
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