National Conference on Indirect Taxes and GST
New Delhi: 5 June 2015 The Indirect Tax Committee of ICAI had started two days National Conference on Indirect Taxes and Goods and Service Tax at NDMC Convention Centre, Parliament Street, Opp Jantar Mantar, Connaught Place, Delhi.
The purpose of this conference to upgrade and prepared Chartered Accountants for future opportunities as the Indian Taxation system, particularly under indirect tax structure, has been evolving on account of major economic developments. With GST expected to be introduced from 1st April 2016, newer challenges and opportunities are expected to come.
The Conference was started in the presence of Cheif Guest Mr. K M Mani, Chairman of Empowered Committee of State Finance Ministers.
Speaking at the conference, he said GST is a major tax reform and it should benefit the final consumer and the public without affecting resources of the states.
The Committee is in the process of discussing and arriving at consensus on large number of issues of GST, he said.
“It is a stupendous achievement that all the states with so much diversity…diverse political governance have come under the umbrella of the Empowered Committee of Finance Ministers and inching forward towards creating a single common market in the country,” Mani said, who is also the Finance Minister of Kerala.
CA. Atul Gupta, The Chairman of the Indirect Tax committee introduce the program and shared his presentation to members. Later CA Upender Gupta, Additional Commissioner , CBEC(GST CELL) discussed the constitutional (122 amendment bill) with the present members.
CA HansRaj Chugh, CA Raj Chawla, CA Rajesh Garg, CA Yogita Anand, CA Radhey Shyam Bansal, CA Swadesh Gupta and other council members were also present at the Conference.
CA Manish Malhotra, a member of the Institute said to our team that GST is the future of India and this will change the whole billing system. He also said that GST is necessary for healthy economy as this will help to increase the number of taxpayers and reduce the tax evasion cases. Not only this Price of goods and services will also decrease, he said.
CA Tarun Makhija and CA Mini Bhatia had also shared their views with us.
CA Mini Bhatia said, the single ACT will help the taxpayer and reduce the complexity of various indirect tax laws.