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GST to severely dent liquidity of exporters: FIEO : 15-07-2017


The initial procedural and software glitches of Goods and Services Tax have smoothen a lot, Calcutta Freight Brokers Association said today. “Initially, there were lot of problems with procedural issues since GST was rolled out from July 1. There were problems in generating shipping bills. But a lot had been eased and now export consignments has also picked up now,” Calcutta Freight Brokers Association chairman Rajiv Agarwall said here today on the sidelines of the 79th AGM.

“We hope GST will bring in benefits in the long run but we have to wait to see whether the new taxation regime help us,” former CFBA chairman Bharat Jain said. Jain said, “exporters are not happy with the imposition of five per cent GST on ocean freight which was exempted earlier. This will lock up working capital.”

Exporters are also facing confusion on GST on exports of SEZ cargo. Agarwall said draft remains problem for Kolkata Port and after Dhamra Port begins container cargo there is a risk of flight of cargo.

Source : Financial Express