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The Dollar Business Bureau  As per the draft rules issued by the Central Board of Excise and Customs (CBEC), the consignment of goods of more than Rs.50,000 under the Goods and Services Tax (GST) will be required to do prior online registration and to secure an 'e-way bill' that can be inspected by the tax officials anytime during the goods transit in order to check tax evasion. The CBEC issued draft rules on electronic way bill in which it is mandatory that the registered entities should adhere to the given format, on the GSTN website with regard to goods valued above Rs.50,000, that would be transported within the state or outside.  The e-way bills will be generated by GSTN within 1 to 15 ...

Ranjeet Mahtani and Stella Joseph This week witnessed significant progress towards GST, with the GST Bills receiving Presidential assent and becoming enactments viz. the Central Goods and Services Tax Act, 2017 (“CGST Act”), the Integrated Goods and Services Tax Act, 2017 (ÏGST Act”), the Union Territory Goods and Services Tax Act, 2017 (ÜTGST Act”) and the Goods and Services Tax (Compensation to States) Act, 2017 (“the Compensation Act”). The provisions under these enactments shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint. This is a crucial milestone in the journey towards GST, as now, there is certainty with regards to the exact shape and contour of the GST legislations, as and ...

The Dollar Business BureauReviewing the operations of Cochin Port Trust, Minister of State (MoS) for Road Transport, Highways and Shipping Pon Radhakrishnan said the ministry will extend adequate governmental support to promote cruise tourism. Radhakrishnan also appreciated the steps taken by Cochin Port to install RFID-based Gate Access System and online berth allotment system to facilitate trade and enhance efficiency, an official announcement said. The MoS also noted that the waiver of penal interest has helped to enhance the creditworthiness of Cochin Port, while allowing it to pursue new projects. Expressing interest in promoting the cruise tourism activities of Cochin Port, Radhakrishnan gave his nod for the new cruise terminal project at Ernakulam wharf, which envisages to accommodate cruise vessels in a manner akin ...

Interview by Sisir Pradhan | The Dollar Business The Dollar Business (TDB): Give a brief outline about your logistics, especially warehousing capabilities in India and other parts of the world Shrichand Chimnani (SC): DB Schenker is one of the leading global 3PL (third-party logistics) logistics service providers. We offer seamless end-to-end supply chain solutions to regional and global customers through our hubs across the globe. In India, we have our presence in 36 locations with 61 facilities including strategically located 30 Schenker Logistics Centers (SLCs) with more than 1,300 workforce dedicated to support the customer-specific requirements. TDB: How critical role a warehouse can play in the entire logistics value chain for a freight forwarding company as well as its clients? ...

Interview by Sisir Pradhan | The Dollar Business  The Dollar Business (TDB): While international logistics companies have gradually moved to IT-based operation, Indian companies still prefer to do it manually and they largely attribute it to keep costs low. Do you agree? Saravana Sastha K (SSK): Yes, manual operations are still continued in India as labour and space are relatively cheaper in the country compared to the regions that were early adapters of IT in logistics. However, there is an increasing demand for better service levels and cost-competitiveness in the supply chain industry in India. This demand is forcing many companies to adopt IT systems and grow their automation capabilities. TDB: Penetration of IT in logistics and warehousing management is still low ...