Thought Leadership Program – Demystifying GST
A very enlightening thought leadership program aimed at ‘demystifying GST’ and understanding the ‘post implementation impacts of GST on the logistics sector’ was organized at LIBA. The event held on 21st October, 2017 was hosted by the Centre for Logistics and Supply Chain Management in association with Arista, the Operations club of LIBA.
The orator for the evening Mr. Karthik Raj S made it a point to gauge the knowledge levels of the crowd and adjust the tempo of the session accordingly. Mr Karthik Raj S is from the 2013 batch of the IRS and is the Assistant Commissioner, Inland Container Depot, Chennai Customs.
At the very beginning of the session, the floor was thrown open for questions and discussion. Various doubts were discussed: ‘why are some products left out of GST?’, ‘Why are taxes still levied by some local bodies e.g. Mumbai Octroi?’, ‘Which countries have successfully implemented GST and what are the challenges that India may face during the implementation process?’.
Mr. Karthik further went on to discuss the technicalities of GST and its impact on logistics. The audience were told about how migration occurs due to mismanagement of supply chains, unequal distribution of resources and indirect market regulation.
There are nine points of impact of GST – Warehouses, E-Commerce, FDI’s, rate of taxation, e-way bill, industrial zones and SEZ, fuel, import and export.
Mr Karthik Raj also threw light on the initiatives the government is taking for successful implementation of GST. He ended the session by speaking about the consumer’s rights and how we can protect our rights.