** Sagar Sandesh print version ceases to be published from December 31, 2017. New look E-paper would be available from Jan. 1, 2018 onwards. free of cost.**

On FIEO’s initiative, Nodal officers appointed at DGFT, CBEC to look into exporters’ concerns, post GST

Following a meeting with Federation of Indian Export Organization (FIEO) President Ganesh Kumar Gupta along with Ajay Sahai, DG & CEO, FIEO in which they impressed upon the Commerce Minister Nirmala Sitharaman the concerns of the exporters, the Commerce Ministry responding immediately to the requests of FIEO, appointed Satya Srinivas, JS (Customs) in CBEC as nodal point in CBEC and Ajay Srivastava, Jt DGFT as nodal point in DGFT.

In the meeting FIEO President drew attention to the major issues like composite drawback rates which he said adds to the transaction cost and time and pleaded for the continuation of pre-GST practice of self-declaration of the composite drawback rates.FIEO Chief also highlighted that there is no clarification on eligibility of exporters for bond with bank guarantee and letter of undertaking (LUT). He also stressed upon the need to appoint a Nodal officer both at the Ministry of Commerce and Ministry of Finance as a single point contact to look into exporters’ issues that are of immediate and urgent nature.

As this is the first week that has passed, since the implementation of GST, it is extremely important to understand the procedures that have been notified for exporters, added FIEO chief. Also, it is important to assess the challenges which exporters have come across during this week at ground level. The FIEO president however reiterated that this is a revolutionary reform which shall definitely bear fruit in the long run but as a general practice with every new system, people might have to face some glitches initially till the time they get versed with the new system.

 


Disclaimer
Copyright © 2017 PORT TO PORT - Shipping Services Portal ( Sagar Sandesh ). All rights reserved.

Follow Us