Indian Transport & Logistics

Nodal officers appointed at DGFT, CBEC to look into exporters’ concerns, post GST

Nodal officers appointed at DGFT, CBEC to look into exporters’ concerns, post GST
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July 07, 2017: Federation of Indian Export Organisations (FIEO) President Ganesh Kumar Gupta along with Ajay Sahai, DG & CEO, FIEO met Commerce and Industry Minister Nirmala Sitharaman and other senior officials of the Department of Commerce and DGFT recently to discuss various important issues faced by the exporting community in the new GST regime.

During the meeting with the minister and the senior government officials of the Ministry of Commerce, FIEO President discussed major issues with regard to composite drawback rates, which adds to the transaction cost and time. In the pre-GST regime exporters were allowed for self declaration of the composite drawback rates, FIEO President has put forward the plea to continue the same facility in the current GST regime also.

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.

The Department of Commerce working swiftly on the request of the FIEO has notified the appointment of Satya Srinivas, JS (Customs) in CBEC as nodal point in CBEC and Ajay Srivastava, Jt DGFT as nodal point in DGFT.

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.

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