The 10th Executive Committee Meeting of the Federation of Freight Forwarders’ Associations in India (FFFAI), which was held on April 12 and 13 at Holiday Inn Hotel in Kolkata and attended by all office bearers including a large number of EC Members of the Federation, was majorly focused on interactions regarding future of Customs Brokers’ Business in India at the backdrop of rapid changes in government rules & regulations, policies and customers’ expectations. The objective was to have interactions on how to sail through the increasing challenges, to understand many initiatives from industry players, to attain common goal for win win benefits and get acquainted with new trends and solutions, through special knowledge sessions from domain experts.
Apart from Mr S Ramakrishna, Chairman, FFFAI and Mr Samir Shah, Immediate Past Chairman, FFFAI, Mr Ankit Kanodia, CA, SK Kanodia & Associates and Mr Pulak Saha, Partner, PwC India in their addresses and presentations discussed on various aspects and new avenues of Customs Broking & Freight Forwarding business in India, while responding to critical issues faced by the participants as well as the community at large. Mr Kanodia in particular, elaborated on on-going issues pertaining to GST Compliances, especially on Scope of Principal Agents Relationship; Taxability of Composite & Mixed Supply; Classification of Inra and Inter State Supply; Valuation under GST; Export Procedure & Refund; Interest on Delayed Tax Payment; Interest on Excess Claim of Input Tax Credit; Finalisation of Accounts & Reconciliation; Annual Return & Annual Audit, etc.
