Customs brokers and freight forwarders are gearing up to comply with the Goods and Services Tax (GST) regime, which is likely to be implemented from July 1, 2017. Accordingly, Noida Customs House Agents Association (NCHAA), one of the 28 members of the Federation of Freight Forwarders’ Associations in India (FFFAI), is planning to organise a seminars for its members and trade associates after the meeting of GST Council, scheduled for May 18-19 in Srinagar.
“As far as preparedness is concerned, it is not only the logistic sector, I think each sector is prepared or getting prepared for implementation of GST. The logistics sector especially the international players in freight forwarding and custom brokers have challenges which would bother for some time. However, since we as an industry rejig ourselves in adapting the changes fastest ever, therefore our challenges would be very temporary,” said S Ramakrishna, President, NCHAA and Vice Chairman, FFFAI on the recent development on GST and preparedness of Freight Forwards & Customs Brokers.
“Noida Association would also be taking similar efforts in organising such seminars locally as well. We are awaiting the Decision of the GST Council meeting scheduled for May 18-19 in Srinagar on the rate structure for both goods and services, which we will cover in our seminars and meetings conclusively in all spheres,” shared Ramakrishna.