FFFAI’s analysis of Budget 2022 on Customs & Logistics business

With an objective of understand the implications of various changes and amendments in the existing Customs Notifications and Tariff/Duty structure announced by the Union Finance Minister while presenting the Union Budget 2022-23 on February 1, the Federation of Freight Forwarders’ Associations in India organised a webinar on the same. The webinar was addressed by eminent Advocate Consultant and also Mentor on Legal matter, empanelled with FFFAI, Joshua Ebenezer provided detailed analysis of the changes/amendments made in the Budget 2022 concerning Customs clearance and tariff.
The webinar was also addressed by Shankar Shinde, Chairman; Dushyant Mulani, Chairman Elect; AV Vijayakumar, Immediate Past Chairman; S. Ramakrishna, Past Chairman & Advisor and other office bearers of FFFAI. The webinar was attended by approximately 200 FFFAI members from across the country.
Ebenezer analysed the changes and amendments very eloquently and simply with relevant examples for better understanding of the participants. He also made caution about the ambiguities due to self-contradictions betwen different amendments, which according to him, requires further clarifications from the Customs authority.
Addressing the gathering, Shankar Shinde thanked all FFFAI Office Bearers, Advisors and members for participating in the webinar. He also appreciated FFFAI members for providing inputs before the Budgeted 2022, which were discussed with the CBIC, Ministry of Finance as pre-Budget discussions. According to the FFFAI Chairman, many of them have been addressed in this Budget and FFFAI would continue the dialogue with the government for further facilitation of Customs clearance as well as foreign trade.
Earlier, Dushyant Mulani conveyed that amendments in the Union Budget are always eagerly awaited by Industry. From a customs point of view, it is not only about the changes in tariff but also about legislative changes. The trade needs to understand thoroughly how the changes/amendments will affect them.