“KONKAN GYANPEETH URAN COLLEGE OF COMMERCE &

ARTS,
URAN, NAVI MUMBAI-400702”

INTERNSHIP REPORT ON
JNPT Finance Department
B. Com (Accounting & Finance)
SEMESTER-VI
2020-2021
A Project Submitted to University of Mumbai for partial completion of the degre e of
Bachelor in Commerce (Accounting and Finance) Under the Faculty of Commerce
By
Mali Harshali Ashok
ROLL NO: - 38
SUBJECT: -PROJECT WORK I (SEM VI)
Under the Guidance of
PROF. Riyaz N. Pathan
“KONKAN GYANPEETH COLLEGE OF COMMERCE & ARTS,
URAN, NAVI MUMBAI-400702”

1
 “KONKAN GYANPEETH URAN COLLEGE OF COMMERCE & ARTS,
URAN, NAVI MUMBAI-400702”

PROJECT REPORT ON
JNPT finance department
B. Com (Accounting & Finance)
SEMESTER-VI
2020-2021
A Project Submitted to University of Mumbai for partial comple tion of the degree of
Bachelor in Commerce (Accounting and Finance) Under the Faculty of Commerce
By
Mali Harshali Ashok
ROLL NO: -38
SUBJECT: -PROJECT WORK I (SEM VI)
Under the Guidance of
PROF. Riyaz N. Pathan
“KONKAN GYANPEETH URAN COLLEGE OF COMMERCE & ARTS,
URAN, NAVI MUMBAI-400702”

2
 “KONKAN GYANPEETH URAN COLLEGE OF COMMERCE & ARTS,
URAN, NAVI MUMBAI-400702”

Certificate

This is to certify that Ms. Mali Harshali Ashok has worked and duly completed her/his Project
Work for the degree of Bachelor in Commerce (Accounting & Finance) under the Faculty of
Commerce in the subject of INTERNSHIP REPORT and her project is entitled “Internship
Report at JNPT in finance department” under my supervision.
I further certify that the entire work has been done by the learner under my guidance and that no
part of it has been submitted previously for any Degree or Diploma of any University.

It is her own work and facts reported by her personal findings and investigations.

Seal of

the college

Date of submission: Name and Signature of Guiding Teacher

Prof. Riyaz N. Pathan

3
 Declaration by learner

I the undersigned Miss Mali Harshali Ashok declare that the work embodied in this

project work titled Internship at JNPT in finance department forms my own contribution to the

research work carried out under the guidance of Prof. Riyaz N.Pathan is a result of my own

research work and has not been previously submitted to any other University for any other

Degree/Diploma to this or any other University.

Wherever reference has been made to previous works of others, it has been clearly indicated as

such and included in the bibliography.

I, here by further declare that all information of this document has been obtained and presented

in accordance with academic rules and ethical conduct.

Name and Signature of the learner

Harshali Ashok Mali

Certified by
Prof. Riyaz N. Pathan

4
 Acknowledgment

To list who all have helped me is difficult because they are so numerous
andthe depth is so enormous.

I would like to acknowledge the following as being idealistic channels and

fresh dimensions in the completion of this project.

I take this opportunity to thank the University of Mumbai for giving me

chance to do this project.

I would like to thank my Principal, Kishor Shama for providing the necessary
facilities required for completion of this project.

I take this opportunity to thank our Coordinator Riyaz Pathan, for his moral
support and guidance.

I would also like to express my sincere gratitude towards my project guide

Prof. Riyaz N. Pathan whose guidance and care made the project successful.

I would like to thank my College Library, for having provided various

reference books and magazines related to my project.

Lastly, I would like to thank each and every person who directly or indirectly
helped me in the completion of the project especially my Parents and Peers
who supported me throughout my project.

5
 INDEX
SR NO CONTENT PAGE NO

1 Chapter 1 Introduction 7-29

2 Chapter 2 Objectives 30-33

3 Chapter 3 Your Role 34-49

4 Chapter 4 Opinion & Challenges 50-51

5 Chapter 5 Conclusion 52

6 Suggestion 53

6
 Introduction
Jawaharlal Nehru Port, also known as Nhava Sheva port, is the largest container port in India.
East of Mumbai, in the state of Maharashtra, JNPT handles the majority of India’s containerized
trade, and is the focal point of long-haul calls to and from the emerging market economy. DP
World’s “futuristic” Nhava Sheva (India) Gateway Terminal (NSIGT) achieved 6,017 TEUs of
combined exports and imports in the course of about 33 hours when it serviced MSC Perle,
recording a gross berth productivity of 141.14 moves per hour, DP World Nhava Sheva officials
told JOC.com.

The 13,092-TEU MSC Perle has been deployed in Mediterranean Shipping Company’s
independent Himalaya Express (HEX) service between India and Europe. The weekly HEX
service operates with eight 13,000-TEU vessels on a full port rotation of Colombo, Nhava Sheva
(JNPT), Mundra, King Abdullah, Gioia Tauro, Felixstowe, Hamburg, Antwerp, Le Havre, and
back to Colombo, Sri Lanka.

When JNPT Port commenced operations in Nhava Sheva, to relieve pressure at Mumbai Port in
1989, there were few takers. Situated in the remote part of Mumbai in a desolate stretch, no
shipping line, barring two, was willing to commence operations there. Coupled with this, was the
shipping lines’ blatant refusal to ease out from their comfort zones at Mumbai Port. The port
authorities at JNPT were caught in a catch-22 situation. How to convince the shipping lines to
shift their operations to Nhava Sheva, the excellent facilities notwithstanding?

This situation would have prolonged for many more years, but for a fortuitous event which took
place in Mumbai port, said Gopalakrishnan, Traffic Manager, Vishakhapatnam Port. He delved
into his memory to relate this incident, on the occasion of India Maritime Week. There was
congestion at the Mumbai Port. Fifteen vessels were waiting at the anchorage to take berth. Then
the 16th vessel arrived from Dubai hub port with import boxes. The captain of the vessel realized
that his ship would have to wait for at least a month, before he could find a berth. The cargo was
urgently required by the consignee. Discharging on the East coast port was financially not
feasible.

Messages went back and forth. It was decided to discharge the cargo at JNPT in order to
facilitate the consignee. Customs permission was sought from Mumbai port to allow the vessel to
discharge the cargo at JNPT. But then bureaucracy kicked in. The permission was refused by the

7
Mumbai Customs. They were in no mood to cede their turf to their counterparts. JNPT was under
a different collect orate. It would have meant loss of revenue for the Mumbai Customs. However,
after much cajoling, the Mumbai Customs granted permission, albeit reluctantly, for discharge of
cargo at JNPT. It was an innocuous consent, the consequences of which were not foreseen by
anybody, least of all the Mumbai Customs.

While the 15 vessels were waiting at Mumbai to take berth, the 16th vessel, pulled anchor and
headed for JNPT where it found berth immediately. After discharging its cargo, the vessel
headed back to Dubai Port from where it loaded export containers which were meant for those
vessels still waiting to take berth at Mumbai port. When this vessel came back with a fresh lot of
cargo to Mumbai, eyebrows were raised. Communications went back and forth. Questions were
asked. How did this happen? How did the 16th vessel manage to discharge its cargo and come
back with fresh cargo from Dubai? Why wait at Mumbai port? Why not start using JNPT, the
trade demanded?

There was no looking back for JNPT after that. A trickle had turned into a flood which
necessitated not just upgrading facilities at Nhava Sheva, but triggered development of more
container terminals over the years. Today it is the numerous uno port of India. A case of camel’s
nose? Or would you rather call it a case of ship’s bow?

The construction project of the port is considered to be one of the technical marvels in the
country. Which was completed in a record time of just three -and-
halfyearsonthemarshysoiland,inordertoupkeepthebeautyofnearbyhistorical Elephant Caves and
surroundings, the management made use of contemporary sophisticated instruments while doing
away rock blasting. The land area in possession of JNPT measures to 2,987 hectares with enough
back-up area ideally suited for developing additional facilities for future maritime requirements
of thecountry.

It was built with an investment of Rs 1,109crores, out of which Rs 956.97crores were obtained as
loans from various funding agencies, with the World Bank being one of the major contributors.

Today JNPT is fully mechanized port & uses latest technology in handling of cargo at the
terminals & presently handles about 40% of India’s container cargo.Equipped with one of the
most modern cargo handling facilities. JNPT has been a pioneer in running its day-to-day
operations with the help of information technology (IT), including Electronic Data Interchange

8
(EDI) and vessel traffic management system (VTMS). [Technically it is called as Vessel Traffic
Services system or VTS. JNPT enjoys very good road and rail linkages with its hinterland as
well as important business centerslike Thane, Nasik and Ahmadabad, which facilitate excellent
port industry interface. It is also characterized by highly automated and round the clock
operations and has demonstrated enough potential and capacity to develop India’s first
majorhubport.

9
 SWOT ANALYSIS

 STRENGTH:

a. Frequency of services

b. Available port infrastructure

c. Strong financial position

d. Hinterland connectivity

e. Rail connectivity
f. Staff strength

g. Training centre

 WEAKNESS :

a. Shortage of staff in key areas

b. Distance from major shipping routes

 OPPORTUNITIES:

a. Industrial relation

b. Free trade zone

c. Export import container trades

d. Distribution and logistics

 THREATS:
 Development of 6 to 7 ports in Gujarat

10
 History

The port was established on 26 May 1989.

India has almost 5560 km of natural peninsular coastline strategically located on the crucial East
-West trade route, which links Europe and the Far East. The coastline is serviced by 12 major
ports and about 180 minor and intermediate ports.Ever since its inspection on May
26,1989,Jawaharlal Nehru Port (JNP)has blazed a new path for itself in theport sector- aiming to
set the benchmark for the heights India
couldreachintechnologicalinnovationandadministrativeskill.Envisionedinaremote location about
10 km across the Bombay Harbor, JN Port rose up from paddy fields, salt-pans and marshlands,
in a Herculean effort at constructionthe first large-scale industrial development in independent
India. The port is as much a representation of what is best about our countries capabilities, from
project conceptualization to completion, as it isan example of human Endeavour against allodds.

It has charted India’s international trade to glorious course of success and achievements,
breaking records and creating new benchmarks. JNPT port is the biggest container handling port
in India handling around 44% of the country’s containerized cargo, crossing the historical and
mark of 4 million TEUsin containers through put consecutively for last five years. In its coveted

role as a Hub port on the west cost of India, JNPT is ranked 31st among the top 100 ports in
theworld.

Having set for itself a long-term goal of achieving 10 million TEUs by year 2020-21, through
addition of two more terminals, viz.The 330M stand alone container terminals (DP word) and the

4th container terminal (port of Singapore authority) and the satellite port at Radovan point, JNP
throws open an array of worthwhile opportunities of the maritime trade, including the shipping
lines and shippers, to ferry the ircargo to various sector across the globe. Supported by a top of
the order, world-class infrastructure with high technological standards, facilities at JNP comprise
of a full-fledged custom house, 30 container freight stations and connectivity to 52 land
container depots across the country. The excellent hinterland connectivity both by rail and road
is being further strengthened by ongoing projects like the Dedicated Freight corridor (DFC),
which will increase the existing the train capacity of 27 to 100 trains per day; Multi-modal

11
logistic park (MMLP) and widening of the port road connectivity. Its proximity to the cities of
Mumbai.

Navi Mumbai and Pune: airports: hotels exhibition centers, etc. Gives the portand extra edge to
address the shippers’ efficiently and promptly.
With a strong commitment to provide seamless service to the customers as India’s prime
facilitator of international trade and logistics, Jawaharlal NehruPort strives to be the undisputed
leader in the south Asia Region in the year to come.
Although JNPT was initially being planned as a “satellite port” to Mumbai under the Mumbai
Port Trust, eventually however, the JNPT was developed as an independent port on its own right
and it became the country’s largest container port, presently handling about 60% of India’s
container cargo. In fact, a recent study by the International Association for Ports and Harbour
(IAPH) based on throughput data in 2002 has ranked JNPT as the 29 th largest container port in
the world.14 the land area in possession of the JNPT measures 2,584 hectares with enough
back-up area ideally suited for developing additional facilities for future maritime requirements
of the country.

Equipped with one of the most modern cargo handling facilities among major Indian ports, JNPT
started operating with two dedicated terminals, one for handling import and export of
containerized cargo, with 8 container freight stations, and the other for handling dry bulk cargo.
JNPT has also been a pioneer in running its day -to- day operations with the help of information
technology (IT), including Electronic Data Interchange (EDI) and vessel traffic management
system (VTMS). JNPT enjoys very good road and rail linkages with its hinterland as well as
important business centers like Thane, Nasik and Ahmadabad, which facilitate excellent port
industry interface. JNPT is also characterized by highly automated and round the clock
operations and has demonstrated enough potential and capacity to develop as India’s first major
hubport.

Against the pessimistic profile of the Indian port sector in the pre-reform scenario, JNPT stood
out as a prominent exception in several ways. Indeed, one of the main objectives behind the
establishment of JNPT in 1989 was to overcome the existing deficiencies and anomalies that

12
characterized the Indian port sector.

In January 1994, tender documents were initially prepared for contracting out the container
terminal at JNPT to private operators. However, in 1995, the proposal was amended and it was
decided to invite private participation in creating a new container terminal while retaining the
existing one under government ownership and operation.

13
 VISION AND MISSION

Mission:

The port is committed to meeting the needs and expectation of its customers and the nation by:
Equipping itself with state-of-the art equipment and technology and efficient, professional and
computer integrated terminal operation system. Conforming to international standards a nd
offering comparative rates. Ensuring security and safety of life, equipment and cargo .Pursuing
the principal of sustainable development constantly upgrading the competence, awareness, skills
and motivation of the port personnel to bring about continual improvement in the physical
efficiency parameters

Vision:

To become the premier container port of south Asia with international standards providing
efficient and cost effective integrated logistics solution. To become a leader in supply change
management by providing end to end, safe, reliable, competitive, on time service and striving to
meet and work for efficient infrastructure service to meet and exceed trade expectation and
making Indian trade competitive in the global environment

Values:

Building long term relationship with costumers by being proactive and by consistently
deliver value Transparency in all our dealings with costumers, our stake holders and
vendors. Respect for individual –we provide open and inclusive environment and
encourages freedom of expression among our employees. No compromise on integrity,
ethical practice and honesty without exception.

14
 INTRODUCTION TO INDUSTRY

COSTAL SHIPPING

India has a long coastline of 7560 kiss of 11 major ports and 181 minor ports and a vest
hinterland. Therefore costal shipping holds a great promise more so because it is the more energy
efficient and cheapest mode of transport of carriage of bulk goods and oil over large distances.
Though costal shipping is not that much prominent in India because of lack of proper facilities at
port and demand for land transport because of its good connectivity.

OVERSEAS SHIPPING

Because of the importance of overseas shipping in international trade, considerable attention has
been paid to increases the shipping tonnage in the planning period. As a result the share of Indian
shipping in the transportation of India’s overseas trade has slowly consistently increased. Also
port facilitates import export which helps in generating high revenue and foreign exchange
because of which lot of attention is given to development of port use for overseas operation.

IMPORTANCE OF PORT IN INDIAN ECONOMY

Ports in India are services sector enterprises. They neither produce any goods nor sale any goods.
They are autonomous bodies under Ministry of shipping, Government of India. Ports are the
gateway of nation’s economy, 90% of countries foreign trade by weight and volume involves
transportation by sea. Port facilitates import and export trade and is major catalysts to the growth
of economy. Port undertakes costal as well as foreign trade. Ports by way of technology and
exports contribute to earnings of foreign exchange.

15
 LIST OF MAJOR PORTS IN IINDIA

Sea Port Name. location

Chennai Port or Madras Port Chennai, Madras

Haldia (Kolkata Dock System & Haldia Kolkata

Dock Complex)
Jawaharlal Nehru Port, alsoknown as Nhava Maharashtra, south Mumbai
Sheva
Kamarajar Port or Ennore Port Ennore, Chennai

Deendayal Port Trust (Kandla) Gujarat, Gulf of Kutch

Kochi Port or Cochin Port Kochi, Kerala

New Mangalore Port Mangalore, Karnataka

Mormugao port Panaji, Goa

Mumbai port West Mumbai, Maharashtra

Punji Panaji Goa

Paradip Jagatsinghpur, Odisha

Tuticorinport(now Tuticorin, Tamil Nadu

calledV.O.chidambaramm)
Vishakhapatnam port Visakhapattnam, Andrha pradesh

16
 JNPT brief Information

Ever since its inspection on May 26, 1989, JNP has charted India’s international trade to a
glorious course of success and achievement, breaking all record and creating new
benchmark. JNP has biggest container handling port in India. Handling around 60% of
countries containerized cargo, crossing throughput. In its covered role as the Hub Port on the

Western Coast of India, JNPT is ranked 24th among the top 100 container port in India.

Fuelled by a passion to excel, JNPT has anchored its presence with pride, to offer a
wonderful Port User experience. Having set for its long term goal of achieving 10 million
TEU’s by the year 2014­15, JNP throws open an array of worthwhile opportunities for
shipping lines and shippers to ferry their cargo to various sectors across.

Jawaharlal Nehru Port Trust was created to provide the modern handling facilities for
container and dry bulk cargo (fertilizer, fertilizer raw materials, and food grains) beyond
1980 that could not have been accommodated at Mumbai Port Trust. This Port is originally
known as Nava Sheva Port Trust and was conceived to relieve congestion of Mumbai Port.
JNPT was declared as major port in 1982 and a Port Trust Board was constituted under the
provision of the Major Port Trust Act. Activities of Port:

A JNPT was commissioned for commercial operations from 26 th may, 1989. The port is
mainly conceived with two terminals viz. Bulk Terminal and Container Terminal.

1. BulkTerminal:
A bulk terminal is an industrial facility used to store large quantities of a product(s) before the
product is transferred to another facility for processing or delivered to end-users. Terminals are
designed with three main constraints in mind:

 Product to be stored
 Modes of transport in & out of the facility
 Throughput

17
Bulk terminals are often an important component of larger networks of pipelines, storage
facilities and processing facilities. Let’s examine a few product examples to explore some of the
ways bulk terminals provide critical infrastructure to a variety of industries.

The Bulk Terminal is having a total quay length of 712 meters with a draught of 12 meters out of
which 500 meters length is equipped with 2 nos. Of grab unloaders and 2nos. Continuous
unloaders for handling food grains fertilizers, raw materials like
Sulphur,rockphosphateandfinishedfertilizerslikedi-ammoniaphosphateandmuriate potash. The
remaining quay length of 212 meters is utilized for handling liquid cargo. The Bulk Terminal
isconstructed to handle bigger size ships of 70000DWT.

A. Cargo handled at bulkterminal

In the initial stages of operation, dry bulk cargo like food grains, raw materials for fertilizers and
finished fertilizers were received at this port and handled successfully up to 1996. However,
subsequently business could not develop as per projection and fell to 0.36 million tones in
20012002. At this port developed an alternative facility to handle.
Liquid cargo by creating tank terms and associated facilities at the port.

BULK TERMINAL PERFORMANCE HIGHLIGHTS : 2019-20

Nature of Record Performance Date/Month/Yea
r
In Tones 2019-20
1 No. of Liquid Vessel handled. 577 2019-20
2 Quantity of Bulk Cargo handled in Tones 2019-20
7,509,049
3 Dry Bulk Cargo handled in a Year 2019-20
1,017,571
4 Highest Liquid Cargo handled in a month during Jun-19
year 2019-20 627,709
5 Highest Dry Bulk (Cement) Cargo handled in a Jan-20
monthduring year 2019-20 110,662

18
 JN Port Bulk Traffic

8.59
8.14
7.89

7.62

7.51
7.67

7.49

7.24
7.10
9.00

6.87
6.69

6.58
Bulk Traffic in Million

8.00
7.00

4.26
4.25

4.06
6.00

4.06
4.01

4.00
3.94

3.92
3.66

3.32
5.00
Tonnes

2.80
2.94
2.75
2.04
4.00
1.44
1.28
1.37

1.28

3.00
2.00
0.29

1.00
0.00

Year

Container terminal
container terminal was initially built up with a quay length of 680 meters. The Container
Terminals is The meant for handling of containers of import and export containerized cargo. The

terminal is capable to handling of 3rdgeneration container vessels with a draught of 12

meters.Rail mounted gantry cranes- (RMGC): 5 Numbers. Present capacity: 6, 00,000 TEUs pa.
Main container yard: 35 hectares (30,000 TEUs capacity) additional paved area: 1, 80,000 square
meters.
A. Cargo handled at ContainerTerminal

Originally the Container Terminal had commenced operation with 3 nos. Rail mounted Quay
Cranes (RMQC) on three breaths supported with 8 nos.Rubber Tired Gantry Cranes (RTGC) and
1 Rail Mounted Gantry Cranes (RMGC) in 1989.
Thecontainertraffic reflected and increasing trend. During 1994-95 a decision was taken to

19
acquire equipment, turnaround time reduced and in turn, per berthing waiting time also reduce.
The steady growth of the container traffic touched the peak in 1998-99 and port handled 6.69
lacksTEUs.
In view of the surging container traffic, parallel action was initiated to develop a separate 600
meters. Berth container terminal by private participation. Accordingly, Global bids were invited
in Dec 1995 and M/s P&O (Australia) led co nostrum was awarded the contraction BOT basis by
signing the license
Agreement on 3rd July 1997 for construction of 600 meters quay length container terminal with
associated equipment for handling containerized cargo. This termi nal was commissioned in April
1999 and was fully operations by July 2000. T he traffic further rose and JN port created history
in Indian Ports by handling 1 million TEUs along with the private terminal (NSCIT) in the
month of Feb 2001. Thus joining the millionaire club of reputed international container ports,
during the year 2001-02 JNP along with NSCIT handled 15.73 lack TUEs To meet the future
growth rate,JNP has augmented its container handling equipment by positioning 2 more Super
Port Panamax Rail Mounted Quay Cane with its own resources and planned to acquire 6 nos.
Rubber Tyred Gentry Cranees on lease rental basis .Port is also planning to replace 12 years old
RMQCs & RTGCs in phase manner in the near future.

B. Container FreightStation

At present,

there are 6 Container Freight Stations (CFS) in operation for stuffing and stuffing of container.
One of the CFSs is owned by JNPT. It is operated and managed by CWC on contract .The
second CFSs is owned ,operated and managed by Central Wareno using Corporation .Outside the
port estate ,three more Container Freight Stations are operated by CONWARE (a company of
Punjab State Warehousing Corporation) Gateway Distri park Ltd. & Balmar Lawrie just on the
boundaries of the port. These CFSs will be in position to handled the container traffic for next
five years considering the expectedgrowth.

20
 C. Future growth of JNPT

Port has awarded a license to M/s Nhava Sheva International Container Terminal 19Limited .A
consortium led by M/s P&O Port Australia Pvt. Ltd for const ruction operation and management
of a new two berth Container Terminal at J NP on BOT basis in July,1997.The project co mprises
construction of 600 meter long quay, reclamation and development of 20 hectares area of
Container Yard and requisite Container Handling Equipment and other related facilities .A t
present , the terminal is equipped with eight Rail Mounted Quay Crane ,Twenty Nine Rubber
and Tyred

What is the container terminal’s role in the shipping process?

Container terminals are located strategically as critical points of a complex logistic network.
Maritime terminals host the transfer of containers from ocean vessels to road and rail vehicles
and canal barges, and the other way around. They are often a part of a larger port- the largest of
which are located around major harbors. When the transloading is between rail and road, the
facility is referred to as an inland container terminal. These are situated in or nearby major cities
and are well-connected tomaritime containers by rail.
Hinterland connections to maritime terminals are vital to the supply chain. Consider the many
landlocked countries in Europe and their inability to trade goods with non-neighboring countries
should this interconnectivity fail to exist. The European Sea Ports Organizatio n, which represents
all ports within the European Union has stated that “it is essential to build a sustainable pan-
European transport network connecting all relevant ports with main inland nodes.” As many
European countries don’t have any seaports, their economic welfare relies heavily on having land
connections to seaports in other countries. Let’s also consider the USA and the vast area of land
cargo needs to be distributed throughout. Their estimated volume of international freight
movement for 2020 is expected to be 4 million tons per day! That’s a whole lot of freight and a
huge demand for efficient hinterland operations.

21
 CONTAINER TERMINAL PERFORMANCE HIGHLIGHTS:
DURING 2019-20

Terminal: JNPCT
Nature of Record Unit Performance Date/Month/Year
1 No. of Containers handled in a year In TEUs 718,863 2019-20
In Tonnes 8,106,305
2 Highest No. of Containers handled in a month In TEUs 71,686 Apr-2019
In Tonnes 825,844
3 Average Gross Berth Productivity in a year Moves/Hr. 60.05 2019-20
4 Highest Berth Productivity in a month Moves/Hr. 70.42 Feb-2020
5 Avg. Gross Crane Productivity in a year Moves/Hr./ 18.82 2019-20
Crane
6 Highest Crane Productivity in a month Moves/Hr./ 19.72 Feb-2020
Crane
7 Highest No. of rakes handled in a month No. 123 Oct-2019
8 No. of ICD Containers handled in a year In TEUs 92,075 2019-20
9 Highest No. of ICD Containers handled in a In TEUs 9,078 Oct-2019
month
10 No.of ICD Rakes handled in a year Nos. 1,384 2019-20
11 Average Stay at Berth of vessel (at berth) in a In days 1.24 2019-20
year
12 Output per ship berth day in a year In TEUs 1,937.33 2019-20
13 Highest Berth Productivity on a vessel K0600 In 98.44 17-Aug-19
WAN HAI 510 ( WAN HAI LINES (INDIA) Moves/Hour
PVT LTD )

22
 2
3
4

0
1
5
6
0.03
0.05
0.11
0.14
0.17
0.24
0.34
0.42
0.50
0.67
0.89
1.19
1.57
1.93

23
2.27
2.37

Financial Performance For the year 2019-20

Year
2.67
3.30
4.06
3.95
4.06
4.27
4.32
4.26
4.16
4.47
4.49
4.50
4.83
5.13
JN Port Container Traffic

5.03
NSICT(Private Container Terminal):

Container along with other related facilities. The design capacity of this new 2-berth In
view of conducting growth in container traffic and meeting growing demands of business
community and trend partners to have additional facilities for handling the same, the port
introduce private participation and invited global tenders for a first time in India to develop
new Container Terminal to augment its container handling cap acity. JN port entered into a
license agreement in July 1997 with M/s. Nhava Sheva International Container Terminal
(NSICT) a consortium led by M/s. P and O ports, Australia, for construction operation
and management of a new 2-berth container terminal on BOT basis for period of
30years.The same was fully operational from July 2000.The project comprises construction
of 600 meter squay length; reclamation of 20 hectares of area for container yard and
requisite container Terminal was considered as 7.2 million tones per year. However, this
capacity is further augmented and currently assessed as 15.6 million tons per year.

 Number of ground slots: 6222, of which 620 are atICD.

 600 Meters liner quaylength

 Rail mounted quay cranes- (RMQC) Post Panamax- 6; Super PostPanamax-2

 Rubber tried gantry cranes- (RTGC):29

 Rail mounted gantry cranes-(RMGC):3

 Reefer points:672

 Backup area-26 Hectares (ContainerYards)

 Railway Sliding for ICD- TwoTracks

 Tractor Trailers-34 (owned) and about 100hired

 Reachstackers-3

 EmptyHandlers 

24
GTI

Gateway Terminal India (GTI) is a joint venture between APM Terminal and the Container
Corporation of India Ltd (CONCOR). Incorporated in July 2004, GTI operates the third
container terminal at Jawaharlal Nehru Port on a build, operate and transfer (BOT) basis for
the period of 30 years. It commenced partial operation in March 2006 and become fully
operational from October 2006.

The Terminal Will Have The Following Equipment:

Rail-Mounted Quay Cranes 10 (post-Panamax, 18 wide reach)

Rubber-Ty-red Gantry cranes 40 (for yard operations )

Rail-Mounted Gantry Cranes 3 (for rail transfer)

Reach mounted Gantry cranes 2

Empty Handlers 2

Tractor trailers 90

25
BPCL

Liquid Cargo Jetty:

A license on BOT basis was awarded to M/s.Bharat Petroleum Corporation Limited a nd

M/s. Indian Oil Corporation Limited in August 1999 for construction of a twin Bert h liquid
cargo j-etty. The twin berth liquid cargo jetty is functional from 2002.

 A twin berth liquid cargo jetty developed by M/s. Bharat Petroleum Corporate on
Limited and IOC limited on BOT basis for handling liquid cargo including
POLproducts
 A 300mtrs long and 40.5 metres WideJetty.

 Having capacity to accommodate two vessels: of 85,000 DWT in seaside berth &
30,000 DWT on shore sideberth.
 The dredged draught on seaside is 13.5 metres and 12meters on shoreside.

 Three dock line are provided for White and BlackOils.

 Estimate to handle 4.0 million tones of cargo in the next 5years.

 Capacity of 5.5 million tonnes perannum.

Jetty is provided with six 12’marine loading and unloading arms (3 on seaside and 3
ofshoresideare fighting system as per OISD 156 norms and state -of art environment
protectionmeasures.

Highlights of JNPT

1. Located at 18 degrees 56’ 43” N (latitude) and 72 degrees 56’24”E(longitude)

2. Land areas is 3000 +hectares

3. Handles containers, liquid bulk and cementship

26
 4. Has four dedicated container terminals namely JNPCT, DP WORLD, GTIPL, AND
NSIGT. In addition, there is one liquid cargo berth and shallow water berth.
5. ISO 9001: 2008, ISO 14001:2004, OHSAS 18001:2007, ISO27001:2013

certified and ISPS compliant.

6. Jawaharlal Nehru Port is ISPS compliant since2004

7. Maximum permissible draught at (shallow water berth) SB01 is 6.00m and SB02 is
10.00m and SB03 is10.00m.
8. Maximum permissible draught at JNPCT, GTI, DP WORLD AND NSIGT terminals and
(liquid berth no. 1 ) LB01 is 14.5m
9. Maximum permissible draught at liquid berth no. 2 is 10.5m
10. Handles about 56% of total container handle by all major ports in India
11. Connected with 34 CFSs and 46 ICDs destinations
12. Poised to handle 10million TEUs of containers by the year 2022-23

EXPORT AND IMPORT PROCEDURE

(A) Generation of export container where stuffing done at CFS shipping line / custom
1. Shipping line / agency approaches forwards, CHAs and shipper requesting for
movement of cargo through their line agency.
2. The shipper after negotiations with the marketing division of the liner / agency
confirms the booking of cargo.
3. Shipping line / agency allot a empty container to the concerned forwards /
CHA/shipper
4. Forwarders / CHA /shipper approaches empty yard of the liner / agency for
picking up empty container.
5. The container is then moved to CFS.
6. The shipper prepares packing least (cargo declaration) and invoice of the cargo
which handed over to CHA.
i. CHA will then up-dates relevant details from taking list and invoice
in to custom systems (online).
ii. The custom system will generate a check list along with shipping

27
 bill no. Not shipping bill (replica) shipping bill basis the details
update by the CHA (online).
iii. CHA then carts (stacking in the demarcating area) the cargo in to
the CFSs as per the check list and shipping bill no.
iv. CHA resister the shipping bill with above documents (check list,
packing list and invoice) to the Appraising officer (AO) customs in
the CFS (manual)
v. AO, customs verifies the documents with the details on the system
and the permits anexamination.
vi. Examining Officer (EO), customs carries out physical examination
cargo with reference to check list, packaging list andinvoice.
vii. EO, customs feeds the examination report in the ICE-GATE system
(online).
viii. Based on the above, a shipping bill is generated / printed at EDI
centre of customs at CFS in triplicate (online) by AO and indorses
LEO and hand over to CHA / forwarders /shipper.
7.Basis the shipping bill with LEO, permission for stuffing is generated by PO, customs
and the custodian (CFS) stuff the cargo in to the nominated container under the supervision of
PO, customs(manual).
8.container is sealed with customs seal by PO, customs and the same isrecorded in the
shippingbill.
9. After the stuffing, the container load plan (CLP) is preparedby custodial

I.e. CFS showing details of cargo stuffed a basis shipping bill, which is countersigned by
custodian, customs and CHA (manual).
10. Shipping line issues a form -13 to the CHA /shipper for movement of container for CFS
(manual) based on the container load plan (CLP).
11. TheCHA/shippergivesajoborderasperCFSformat alongwithCLPfor movement of container
from CFS to port for nominated vessel (manual).

12. ThecustodianthenmovethecontainerfromtheCFS,withdueverification of

28
 the container no., seal no. As per the document to portterminal.
13. At the port terminal gate, the container and seal no. Is verified by the customs officer
based on the document (CLP), and endorsement to,, let ship” is given on the
CLP(manual).
14. Further, CHA /shipper submit duly filled form -13 endorsed by customs posted at
terminal gate to the gate checker for generating get pass. Learning Objective.

29
 Chapter2
STATEMENT AND OBJECTIVES

Learning objective

Objectives:
• To study present financial system of JNPT.
• To get experience from internships.
• To know about VRC and CRC billing.
• Verifying sales Voucher.
• To maintain schedule of water and electricity supply.

Importance:

• Project is the prime resource of future full time

employment.
• A project has given in debts and also helps to meet
respective heads of various functions.
• Project has given in debt knowledge of how to finance
his recorded and maintained in the business.
• Project has given me an opportunity to work partially on
JNPT’s financial record which was kept manually in
system.

30
 JOB DESCRIPTION

This is the section where the actual revenue generation for JNPT takes place. It mainly
consists of section actually contributed to the operating income for JNPT. They are
briefly explained below.

• Container terminal section

• Bulk Terminal Section
• Estate Section
•
Flow of work

In PUB (Port User Building) we have CDC (Central Documentation Centre) where it
cheeks the following:

• Cheeping of opening balance

• Issue VIA no. By operational department
• Approval from marine department
• Vessel comes in port on scheduled date.
• Rising of VRC, CRC and Dwell time bills in the form of vouchers.
• Payment of the remaining bill amount by the concerned party.
Note: in all 624 parties are being maintained through online system.

• BULK TERMINAL SECTION: (REVENUE)

• VRC
• Wharf age changes
• BOT from BPCL

31
• ESTATE SECTION: (REVENUE)

• Collection of water charges.

• Collection of Electricity charges.
• Collection of Rent.

32
 WORK EXPERIENCE

It was very nice experience for me to get internship in JNPT. I was in Administration building.
There are some department in administration they are as follows:

• Finance Department
• Project planning and Development Department
• Marketing Department
In Finance Department there are six sections they are as follows:
• Estate Section
• Project Work Section
• Cash & Bank Section
• Financial Account Section
• Billing Section
• Profit & Loss Section

I was in Project Section of Finance Department. This is control/ handled by G.K.Das Sir
Manager II of Project Section. The Account Officer of Project Section is Mrs. Jayashree Oak.
The main work of Estate Section is to maintain the records of income and expenditure which is
generated by the estate/ property of JNPT, JNPT Township, ports, etc. As we know the JNPT as
whole, consist of five container terminals. Out of five, one is operated by JNPT itself known as
Jawaharlal Nehru Port Container Terminal (JNPCT) and the other four container terminals where
companies handed over to private separately on B.O.T (Built Operate Transfer) basis. So JNPT
charges Rent, Electricity and Water expenses.

33
 Chapter 3

YOUR ROLE

In this 20 days of internship I have learn about Revenue, GST, how CT section work how BT
section works I have also check some report in form of Excel sheets like, I have checked out
Dollar Audit reports. I have seen Container Terminal report (CT section), I have also seen Bulk
Terminal report (BT). I have learn how GST Return is filled,GSTR 7,GSTR 2,2A.I have also learn
some things about SAP system, in this SAP system we can use one username and password only
one person at a time.
For example:-
if ABC is a person is a person using user id 2001121 in SAP system, and if XYZ person also trying
to open and use User ID 2001121 , then that person will not able to access that same user ID .
In this internship I have also learn about Invoice.
What is Revenue?

Revenue is the value of all sales of goods and services recognized by a company in a period.
Revenue (also referred to as Sales or Income) forms the beginning of a company’s income
statement and is often considered the “Top Line” of a business. Expenses are deducted from a
company’s revenue to arrive at its Profit or Net Income.

Sales Revenue = Sales Price × Number of Units Sold

Revenue is money brought into a company by its business activities. Revenue is also known as
sales, as in the price-to-sales ratio – an alternative to the price-to-earnings ratio that uses revenue
in the denominator.

There are different ways to calculate revenue, depending on the accounting method employed.
Accrual accounting will include sales made on credit as revenue for goods or services delivered
to the customer. It is necessary to check the cash flow statement to assess how efficiently a
company collects money owed. Cash accounting, on the other hand, will only count sales as
revenue when payment is received. Cash paid to a company is known as a “receipt”. It is
possible to have receipts without revenue. For example, if the customer paid in advance for a
service not yet rendered or undelivered goods, this activity leads to a receipt but not revenue.

34
Revenue is known as the top line because it appears first on a company’s income statement. Net
income, also known as the bottom line, is revenues minus expenses. There is a profit when
revenues exceed expenses. To increase profit, and hence earnings per share for its shareholders, a
company increases revenues and/or reduces expenses. Investors often consider a company’s
revenue and net income separately to determine the health of a business. It is possible for net
income to grow while revenues remain stagnant because of cost-cutting. Such a situation does
not bode well for a company’s long-term growth. When public companies report their quarterly
earnings, the two figures that receive the most attention are revenues and earnings per share
(“earnings” being equivalent to net income). Subsequent price movement in stocks generally
correlates to whether a company beat or missed analysts’ revenue and earnings per share
expectations.

A company’s revenue may be subdivided according to the divisions that generate it. For
example, a recreational vehicles department might have a financing division, which could be a
separate source of revenue. Revenue can also be divided into operating revenue – sales from a
company’s core business – and non-operating revenue which is derived from secondary sources.
As these non-operating revenue sources are often unpredictable or nonrecurring, they can be
referred to as one-time events or gains. For example, proceeds from the sale of an asset, a
windfall from investments, or money awarded through litigation are non-operating revenue.

Examples of Revenue

In the case of government, revenue is the money received from taxation, fees, fines, inter-
governmental grants or transfers, securities sales, mineral or resource rights, as well as any sales
made.

For non-profits, revenues are its gross receipts. Its components include donations from
individuals, foundations, and companies; grants from government entities; investments;
fundraising activities; and membership fees.

35
In terms of real estate investments, revenue refers to the income generated by a property, such as
rent, parking fees, on-site laundry costs, etc. When the operating expenses incurred in running
the property is subtracted from property income, the resulting value is net operating income.

Revenue Formula

The revenue formula may be simple or complicated, depending on the business. For product
sales, it is calculated by taking the average price at which goods are sold and multiplying it by
the total number of products sold. For service companies, it is calculated as the value of all
service contracts, or by the number of customers multiplied by the average price of services.

Revenue = No. Of Units Sold x Average Price

Or

Revenue = No. Of Customers x Average Price of Services

The formulas above can be significantly expanded to include more detail. For example, many
companies will model their revenue forecast all the way down to the individual product level or
individual customer level.

Revenue in Different Sectors

Below, we will explore what the concept of revenue means in different sectors. As you
will see, it can be composed of many different things and varies widely in terms of what
the most common examples are, by sector.

Personal finance :
• Salaries
• Bonuses
• Hourly wages

36
 • Dividends
• Interest
• Rental income
Public finance :

• Income tax
• Corporate tax
• Sales tax
• Duties and tariffs

Corporate finance :

• Sale of good
• Sales of service
• Dividends
• Interest
Non-profits:
• Membership Dues
• Fundraising
• Sponsorships
• Product/service sales

Types of revenue

What are the types of revenue in business? There are two types of revenue your business might
receive:

• Operating
• Non-operating

37
Operating revenue is revenue you receive from your business’s main activities, like sales. If you
own a landscaping company, your business’s operating revenue is derived from your services.
Or, if you own a pie shop, your business’s operating revenue comes from selling the pies.

Non-operating revenue is money earned from a side activity that is unrelated to your business’s
day-to-day activities, like dividend income or profits from investments. Non-operating revenue is
more inconsistent than operating revenue. You make sales frequently, but you might not
consistently earn money from side activities. Non-operating revenue is listed after operating
revenue on the income statement.

Types of revenue accounts

When you earn revenue, you need to properly record it in your accounting books. There are a
few different types of income in accounting.
You can have both operating and non-operating revenue accounts:

• Sales
• Rent revenue
• Dividend revenue
• Interest revenue
• Contra revenue (sales return and sales discount)

For accrual accounting, you need to credit one account and debit another. If an account is
increased by one account, it is decreased by the other.

Before you can make entries for your revenue accounts, you need to know how accounts are
affected by debits and credits:

Sales

Record incoming money from main business operations in your Revenues/Sales account. This is
an account that lists your operating revenue. Some businesses might be more specific when

38
naming sales accounts. For example, Service Revenue is a type of account that records sales
from services you perform.

Here is an example of a journal entry you would create when you make a sale (using accrual
accounting). The customer does not pay right away.

Date Account Notes Debit Credit

11/6 Accounts Receivable Sale to customer 100

Revenue 100

Rent revenue

As a business owner, you might also receive rent payments. If you have buildings or equipment
that you rent out on the side, you need to make a Rent Revenue account. This is a non-operating
revenue.

Many times, rent payments are made in advance. Because of this, your journal entries require an
additional step. Let’s say your tenant made a rent payment in advance. You would record it as an
unearned rent revenue account since they are paying before they used the building, as seen here:

Date Account Notes Debit Credit

11/17 Cash Building XYZ 1,000

Unearned Rent Revenue 1,000

Once you earn the revenue, you can reduce your Unearned Rent Revenue account and increase
your Rent Revenue account.

39
 Date Account Notes Debit Credit

1/1 Unearned Rent Revenue Building XYZ 1,000

Rent Revenue 1,000

Dividend revenue

If your business owns stocks in other companies, you will receive dividend payments. This is
another non-operating revenue because it is not a day-to-day activity and is not the main
operation of your business.

Here is how you would make an entry in your books for a Dividend Revenue account.

Date Account Notes Debit Credit

1/5 Cash Stock in ABC Company 2,000

Dividend Revenue 2,000

Interest revenue

Another non -operating revenue is interest revenue. If you have investments that earn
interest, you will need to create an Interest Revenue account.

40
 For example, you invested money into a business and earn interest on it. You need to
record the interest revenue as its own journal entry.

Date Account Notes Debit Credit

1/5 Interest Receivable ABC investment 200

Interest Revenue 200

Contra revenue accounts

Typically, your revenue accounts add money to your business. But, you can also have contra
revenue accounts.

Contra revenue accounts deduct money from your business’s sales revenue. So, you need to debit
these accounts and credit the corresponding account, like Accounts Receivables.

You might have a sales return contra account or a sales discounts account. The Sales Returns
account shows refunded money to customers. The Sales Discounts account shows the discounts
you gave to a customer.

Let’s say a customer returns a winter coat. You will need to debit the contra revenue account and
credit the Accounts Receivable account.

Date Account Notes Debit Credit

2/6 Sales Returns Return 150

Accounts Receivable 150

41
GST (goods and service tax)

Goods and Services Tax (GST) is an indirect tax (or consumption tax) used in India on the
supply of goods and services. It is a comprehensive, multistage, destination-based tax:
comprehensive because it has subsumed almost all the indirect taxes except a few state taxes.
Multi-staged as it is, the GST is imposed at every step in the production process, but is meant to
be refunded to all parties in the various stages of production other than the final consumer and as
a destination-based tax, it is collected from point of consumption and not point of origin like
previous taxes.

Goods and services are divided into five different tax slabs for collection of tax - 0%, 5%, 12%,
18% and 28%. However, petroleum products, alcoholic drinks, and electricity are not taxed
under GST and instead are taxed separately by the individual state governments, as per the
previous tax system. There is a special rate of 0.25% on rough precious and semi-precious stones
and 3% on gold.In addition a cess of 22% or other rates on top of 28% GST applies on few items
like aerated drinks, luxury cars and tobacco products. Pre-GST, the statutory tax rate for most
goods was about 26.5%, Post-GST, most goods are expected to be in the 18% tax range.

The tax came into effect from 1 July 2017 through the implementation of the One Hundred and
First Amendment of the Constitution of India by the Indian government. The GST replaced
existing multiple taxes levied by the central and state governments.

The tax rates, rules and regulations are governed by the GST Council which consists of the
finance ministers of the central government and all the states. The GST is meant to replace a
slew of indirect taxes with a federated tax and is therefore expected to reshape the country's 2.4
trillion dollar economy, but its implementation has received criticism.

Formation

The reform of India's indirect tax regime was started in 1986 by Vishwanath pratap Singh,
Finance Minister in Rajiv Gandhi’s government, with the introduction of the Modified Value
Added Tax (MODVAT). Subsequently, Prime Minister P V Narasimha Rao and his Finance
Minister Manmohan Singh, initiated early discussions on a Value Added Tax (VAT) at the state
level. A single common "Goods and Services Tax (GST)" was proposed and given a go-ahead in
1999 during a meeting between the Prime Minister Atal Bihari Vajpayee and his economic

42
advisory panel, which included three former RBI governors IG Patel, Bimal Jalan and C
Rangarajan. Vajpayee set up a committee headed by the Finance Minister of West Bengal, Asim
Dasgupta to design a GST model.

The Asim Dasgupta committee which was also tasked with putting in place the back-end
technology and logistics (later came to be known as the GST Network, or GSTN, in 2015). It
later came out for rolling out a uniform taxation regime in the country. In 2002, the Vajpayee
government formed a task force under Vijay Kelkar to recommend tax reforms. In 2005, the
Kelkar committee recommended rolling out GST as suggested by the 12th Finance Commission.

After the defeat of the BJP-led NDA government in the 2004 Lok Sabha election and the election
of a Congress-led UPA government, the new Finance Minister P Chidambaram in February 2006
continued work on the same and proposed a GST rollout by 1 April 2010. However, in 2011,
with the Trinomial Congress routing CPI (M) out of power in West Bengal, Asim Das gupta
resigned as the head of the GST committee. Das gupta admitted in an interview that 80% of the
task had been done.

Implementation

The GST was launched at midnight on 1 July 2017 by the President of India, and
the Government of India. The launch was marked by a historic midnight (30 June – 1 July)
session of both the houses of parliament convened at the Central Hall of the Parliament. Though
the session was attended by high-profile guests from the business and the entertainment industry
including Ratan Tata, it was boycotted by the opposition due to the predicted problems that it
was bound to lead for the middle and lower class Indians. The tax was strongly opposed by the
opposing Indian National Congress. It is one of the few midnight sessions that have been held by
the parliament - the others being the declaration of India's independence on 15 August 1947, and
the silver and golden jubilees of that occasion.[After its launch, the GST rates have been
modified multiple times, the latest being on 22 December 2018, where a panel of federal and
state finance ministers decided to revise GST rates on 28 goods and 53 services.

HSN code

India is a member of World Customs Organization (WCO) since 1971. It was originally using 6-
digit HSN codes to classify commodities for Customs and Central Excise. Later Customs and

43
Central Excise added two more digits to make the codes more precise, resulting in an 8 digit
classification. The purpose of HSN codes is to make GST systematic and globally accepted.HSN
codes will remove the need to upload the detailed description of the goods. This will save time
and make filing easier since GST returns are automated. If a company has turnover up to INR 15
million in the preceding financial year then they did not mention the HSN code while supplying
goods on invoices. If a company has turnover more than INR 15 million but up to INR 50
million, then they need to mention the first two digits of HSN code while supplying goods on
invoices. If turnover crosses INR 50 million then they shall mention the first 4 digits of HSN
code on invoices.

Rate

The GST is imposed at variable rates on variable items. The rate of GST is 18% for soaps and
28% on washing detergents. GST on movie tickets is based on slabs, with 18% GST for tickets
that cost less than Rs. 100 and 28% GST on tickets costing more than Rs.100 and 28% on
commercial vehicle and private and 5% on readymade clothes. The rate on under-construction
property booking is 12%. Some industries and products were exempted by the government and
remain untaxed under GST, such as dairy products, products of milling industries, fresh
vegetables & fruits, meat products, and other groceries and necessities.

Check posts across the country were abolished ensuring free and fast movement of goods. Such
efficient transportation of goods was further ensured by subsuming octopi within the ambit of
GST.

The Central Government had proposed to insulate the revenues of the States from the impact of
GST, with the expectation that in due course, GST will be levied on petroleum and petroleum
products. The central government had assured states of compensation for any revenue loss
incurred by them from the date of GST for a period of five years. However, no concrete laws
have yet been made to support such action. GST council adopted concept paper discouraging
tinkering with rates.

44
Revenue Distribution

Revenue earned from GST (intra state transaction - seller and buyer both are located in same
state) is shared equally on 50-50 basis between central and
respective state governments. Example: if state of Goa has collected a total GST revenue (intra
state transaction - seller and buyer both are located in same state) of 100 crores in month of
January then share of central government (CGST) will be 50 crores and remaining 50 crores will
be share of Goa state government (SGST) for month of January.

For distribution of IGST (inter state transaction - seller and buyer both are located in different
states) collection, revenue is collected by central government and shared with state where good is
imported. Example: 'A' is a seller located in state of Goa selling a product to 'B' a buyer of that
product located in state of Punjab, then IGST collected from this transaction will be shared
equally on 50-50 basis between central and Punjab state governments only.

GST Council

GST Council is the governing body of GST having 33 members, out of which 2 members are of
centre and 31 members are from 28 state and 3 Union territories with legislation. The council
contains the following members (a) Union Finance Minister (as chairperson) (b) Union Minister
of States in charge of revenue or finance (as member) (c) the ministers of states in charge of
finance or taxation or other ministers as nominated by each states government (as member). GST
Council is an apex member committee to modify, reconcile or to procure any law or regulation
based on the context of goods and services tax in India. The council is headed by the union
finance minister Nirmala Sitharaman assisted with the finance minister of all the states of India.
The GST council is responsible for any revision or enactment of rule or any rate changes of the
goods and services in India.

Goods and Services Tax Network (GSTN)

The GSTN software is developed by Infosys Technologies and the Information Technology
network that provides the computing resources is maintained by the NIC. "Goods and Services
Tax Network" (GSTN) is a non-profit organisation formed for creating a sophisticated network,

45
accessible to stakeholders, government and taxpayers to access information from a single source
(portal). The portal is accessible to the Tax authorities for tracking down every transaction, while
taxpayers have the ability to connect for their tax returns.

The GSTN's authorised capital is ₹10 crore (US$1.4 million) in which initially the Central
Government held 24.5 percent of shares while the state government held 24.5 percent. The
remaining 51 percent were held by non-Government financial institutions, HDFC and HDFC
Bank hold 20%, ICICI Bank holds 10%, NSE Strategic Investment holds 10% and LIC Housing
Finance holds 11%.

However, later it was made a wholly owned government company having equal shares of state
and central government.

Types of GST
There are four different types of GST as listed below:

 The Central Goods and Services Tax (CGST)

 The State Goods and Services Tax (SGST)

 The Union Territory Goods and Services Tax (UTGST)

 The Integrated Goods and Services Tax (IGST)

1. The State Goods and Services Tax (SGST)

SGST is defined as one of the two taxes imposed on transactions of goods and services of
every state. Levied by State Government of every state, SGST replaces every kind of
existing state tax that include Sales Tax, Entertainment Tax, VAT, Entry Tax, etc. Under
SGST, the State Government can claim the earned revenue.

2. The Central Goods and Services Tax (CGST)

CGST is referred as the Central Tax levied on trans actions of goods and services which
take place within a state. Imposed by the Central Government, CGST ensures to replace
all other Central taxes inclusive of State Tax, CST, SAD, etc. Prices of goods and
services under CGST are charged in accordance with the basic market price.

46
3. The Integrated Goods and Services Tax (IGST)
IGST is applied on the interstate transactions of goods and services. IGST is also
applicable on the goods being that are imported to distribute among the respective states.
The IGST is levied when the movement of products and services occur from one state to
another.

4 . The Union Territory Goods and Services Tax (UTGST)

Applicable on the Intra UT supply of goods and services, the aim to impose UTGST is to
apply a collection of tax to provide benefits as same as SGST. The UTGST is applicable
to five Union Territories namely Lakshadweep, Damn and Diu, Dadra and Nagar Haveli,
Andaman and Nicobar Islands, and Chandigarh.

Benefits of GST

GST presents a transparent tax system imposed on the supply of goods and services.
When an item is bought, a common individual sees only the state taxes applicable on the
product label and not the various tax components embedded on the product.

The aim of imposing GST is to improve the ease of business opera tions by enhancing tax
compliance, boosting revenue receipts of both central and state government and
accelerating economy growth. Eradication of cascading of taxes result in lowered tax
burden on many products.

Following are the few benefits of GST mentio ned below:

 Eradicates the cascading tax effect

 Allows higher threshold to businesses for registration

 Composition scheme for small business operations

 Easy and Convenient online processes

 Lesser Tax Compliance

 Enhanced Efficiency of logistics

47
GSTR-7

GSTR 7 is a return to be filed by the persons who is required to deduct TDS (Tax deducted at
source) under GST. GSTR 7 contains the details of TDS deducted, TDS liability payable and
paid, TDS refund claimed if any etc.

GSTR-2
Every registered taxable person is required to give details of Inward Supply, i.e., purchases for a
tax period in GSTR-2.

GSTR-2 contains details of all the purchases transactions of a registered dealer for a month. It
will also include purchases on which reverse charge applies. The GSTR-2 filed by a registered
dealer is used by the government to check with the sellers’ GSTR-1 for buyer-seller
reconciliation. Buyer-seller reconciliation or invoice matching or is a process of matching
taxable sales by the seller with the taxable purchases of the buyer. It is vital because ITC on
purchases will only be available if the details of purchases filed in GSTR-2 return of buyer
matches with the details of sales filed in GSTR-1 of the seller. For example, Ajay buys 100 pens
worth Rs. 500 from Vijay Stationery. Vijay Stationery must show Rs. 500 sales in his GSTR-1.
Ajay must show the same Rs. 500 purchase in GSTR-2 to claim ITC. Unless the amounts match,
Ajay will not be able to claim ITC. Buyer-seller reconciliation or invoice matching or is a
process of matching taxable sales by the seller with the taxable purchases of the buyer. It is vital
because ITC on purchases will only be available if the details of purchases filed in GSTR-
2 return of buyer matches with the details of sales filed in GSTR-1 of the seller. For example,
Ajay buys 100 pens worth Rs. 500 from Vijay Stationery. Vijay Stationery must show Rs. 500
sales in his GSTR-1. Ajay must show the same Rs. 500 purchase in GSTR-2 to claim ITC.
Unless the amounts match, Ajay will not be able to claim ITC.

GSTR-2A

GSTR 2A is a purchase-related tax return that is automatically generated for each business by the
GST portal . When a seller files his GSTR-1, the information is captured in GSTR 2A It takes
information of goods and/or services which have been purchased in a given month from the

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seller’s GSTR-1. You are required to verify (and amend) this return before filing in on GST
Portal. GSTR 2A will be auto-populated from the following returns of the sellers/counterparty-

Return Filed by

GSTR 1 Regular registered seller

GSTR-5 Non-resident

GSTR 6 Input Service Distributor

GSTR 7 Person liable to deduct TDS

GSTR 8 Ecommerce

GSTR 2A is an auto-generated read only document which is for information purpose only.
GSTR-2 is an official return which must be filed and it will have the same information as GSTR-
2A. But GSTR-2 can be edited.

You don’t have to file GSTR-2A. GSTR-2A is a read only document with a list of all of the
invoices from the various sellers during the month. You can also download a copy of it.

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 Chapter 4 .

CHALLENGES

The good thing is that if you are already aware of these internship challenges, you can handle
them better instead of letting it ruin your internship experience.

Competitive co interns
The co-interns were high-spirited and worked really hard. We felt intimidated as we didn’t
expect our internship to be so competitive.

Inadequate Compensation-
We accepted an internship thinking that compensation would be sufficient for it. But after we
actually start, we realize there is no pay far lesser work.

Allotment of trivial work-

This is one of the commonest internship challenges faced by a large number of interns.
While we might expect to be an important part of the organization, we are often offered just
assisting jobs to our seniors and mentors.

Less Paperwork:
Before doing my internship I thought there would be more paper work in govt. office but in
actual life it was totally opposite the days of paper works are over now everything is saved
electronically. The problem which I faced was that I was not at all familiar with the electronic
way of saving the documents but later on I got habitual with this.

Travelling:
I stayed in uran and the place where I did my internship was far away from my place. I always
took a bus/shuttle of jnpt for the office which was not an easy task for a intern as there were lot
of other peoples who went for jobs on the time which I went for internship and it was difficult to

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get a seat among employee people. Sometimes we would manage ourselves by standing n
travelling.

20 days time:

The internship tenure was only for 20 days which was not enough time for me to learn more
topics. I learnt many things within this short period of time but still I am not satisfied with the
knowledge I gained there. I was able to gain practical knowledge of the theory which is most
important aspect for any person. I wish I would have more time so that I would have learnt more
topics.

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 Chapter 5
Conclusion

The internship opportunity I had with jnpt was a great chance for learning and professional
development. The theory and practical knowledge can be bridged by conducting seminars about
the practical aspects of theory. There should be more workshops about the practical work.
Colleges should conduct seminars by inviting company executives to explain what an
organization need from their employees. At least there should be 1 or more practical subject in
our syllabus and it should be allotted proper less in college. The theory should be such that it is
in accordance with the practical work and it should help a student in their future life.

I got to learn various things as an intern which are stated as follows:

Dollar Audit Report
Container Terminal
Bulk Terminal
GST return
Invoices

These kinds of internships help develop student a feeling of self motivated and it also add ups
confidence. These internships provide knowledge about the outside corporate world of how they
actually work.

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 Suggestions

The organization should continue giving internship placement to as many student as they can due
to the fact that students failed to get placements.

The organization should ensure more supervision over the employees in the order to w ork
effectively and also eliminate workers who relax, work lazily and perform actively after seeing
their supervisor.

The management should also Carry out job enlargement and enrichment such that it mitigate the
conflict amongst employees for roles and tasks. This will ensure good industrial relations
between the employees working in the organization.

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