MUMBAI: Brihanmumbai Custom House Agents’ Association organized a seminar on GST and recent change in Customs Act 1962 on 15th February, 2017 at MACCIA.
Mr. Karunakar Shetty, Sr. Vice President BCHAA welcomed the gathering and stressed the importance of knowledge series seminar conducted by BCHAA for helping members to increase the domain knowledge in critical issues concerning indirect taxes.
Mr. Ashish Pednekar, President BCHAA welcomed Chief Guest Shri Subhash Agarwal, Commissioner of Customs, (NS-Gen & NS – IV) Mumbai Zone – II and Mr. Joshua Ebenezer Director, Lakshmi kumaran and Sridharan and Mr. Ashish Philip, Associate, Lakshmi kumaran and Sridharan.
President BCHAA Mr. Ashish Pednekar conveyed the gathering that the Introduction of Goods and Service Tax GST is one of the most significant change in the history of indirect taxation in India. The implementation of GST is round the corner, hence it is important for members to understand the significance.
Chief Guest of the seminar Shri. Subhash Agarwal, Commissioner of Customs, (NS-Gen & NS – IV) Mumbai Zone - II, gave his detailed presentation on the changes made in the Customs Act as announced in the recent Union Budget 2017-18.
Shri Subhash Agarwal, Commissioner Customs, conveyed that concrete steps has been taken in the recent Union Budget to focus on reduction of transaction cost and dwell time clearance and display the analysis of time study report in his power point presentation
He further conveyed that the steps taken by amendments of 46 and 47 of Customs Act, will help in timely submission of import bill of entry and timely payment of customs duties. In the interactive session Shri Subhash Agarwal, Commissioner of Customs, (NS-Gen & NS – IV) Mumbai Zone - II, touched base with audience regarding issues faced by them in direct port delivery for import and direct port entry for exports through parking plaza .
The second speaker for the seminar Mr. Joshua Ebenezer, Director, Lakshmi kumaran and Sridharan who gave a detailed insight on impact on GST on custom brokers. He introduced Mr. Ashish Philip, Associate, L&S Attorneys, who is from the core team GSTN network which forms the backbone of IT implementation in rollout of GST in country.
The Power point presentation given by them was very well appreciated by the audience as it comprehensively covered the subject right from application, registration, operation, credit management and also role of customs brokers in input tax credit and the transitional provisions were also explained to the audience in the GST regime.
Honorary Secretary BCHAA, Mr. Dushyant Mulani extended vote of thanks to members present and also stressed upon need to study the model GST law by custom brokers.