New Delhi: Logistics stocks on Tuesday surged up to 10.2% as the much awaited Goods and Services Tax (GST) is set to roll out from mid-night of June 30-July 1. Shares of Snowman Logistics soared 10.18%, Gati jumped 5.52%, Kesar Terminals & Infrastructure (2.45%), Allcargo Logistics (1.81%), VRL Logistics (1.69%) and Tiger Logistics (1.21%) on BSE. “Uncertainty regarding GST transition hurdles capped the gains in the domestic indices, but logistic and transport sectors exhibited a sharp surge eyeing the GST roll out approaching fast,” said Anand James, chief market strategist, Geojit Financial Services Ltd.Reminiscent of India’s tryst with destiny at the mid- night of 15 August 1947, Parliament’s historic Central Hall will host a function on the intervening night of June 30-July 1 to ring in the nation’s biggest tax reform—GST. Announcing that the switch over to the Goods and Services Tax (GST) will kick in at the stroke of mid-night, finance minister Arun Jaitley said the hour-long function will mirror the contribution made by different political parties and states to the revolutionary new tax regime.

Source: Mint June 20, 2017 11:48 UTC