Hello GST: Impact of GST on shipping industry mostly +ve

As the goods and services tax (GST) might roll out this year, its impact is going to be visible on every sector in the country.

The shipping sector where currently companies have to pay taxes on fuel might see this major cost as credit under GST.

Under GST, the export freight services, which are at present exempted and the goods used for repair and maintenance along with capex, all will be available as credit under GST.

Talking on the negatives, Jigar Doshi of SKP Business told CNBC-TV18 that the 70 percent abatement available for transportation of goods by vessels will likely end under GST.