India will soon overcome GST challenges: CA Shah

Source: The Hitavada      Date: 09 Aug 2017 09:44:15


 

Business Bureau,

The Institute of Chartered Accountants of India (ICAI), Nagpur Branch organised a workshop on ‘Goods and Services Tax’ for Nagpur Watch Dealers Association at ICAI Bhawan,Nagpur recently. As a part of social responsibility and as a mission to support the Government to successfully execute and spread awareness about the newly enacted GST Law, Nagpur Branch is organising multiple programmes for the various sectors of trade and industry.


CA Nihar Jambusaria, Central Council Member of ICAI, New Delhi while inaugurating the workshop said, there are multiple challenges which may have to face by various stakeholders in the GST era but with proper planning and advise of the experts including chartered accountants it can be managed and handled properly.


CA Julfesh Shah, Member of PR and CSR Committee of ICAI, New Delhi while delivering speech on the topic said that presently in 164 countries GST is working smoothly and India will in due course of time will be able to cope up with the challenges of GST. Shah said that the country would soon ressovle all the issues associated with GST implementation and the new system would pave the way towrads India’ economic prosperity.


He explained and deliberated on various provisions of the GST Act .He elaborated on basic structure of GST, time and place of supply, salient features of Composition Scheme etc.
CA Mayur Zanwar another speaker threw light on Input Tax Credit, transitional provisions, value of supply, various returns to be filed under GST Act and also resolved various queries of the delegates.


Earlier Chairman of Nagpur Branch CA Sandeep Jotwani said, Nagpur Branch is taking sincere efforts for explaining the provisions of GST for every organisation. “Everyone should take it as a challenge as well responsibility to adopt this new law and motivate others to do so. There will be few difficulties faced during the initial phase but these difficulties will give proper returns in due course of time,” he said.


Nagpur Branch has already started GST Seva Kendra which provides free consultancy on GST issues and urged the members of trade and industry to take the benefit of the Kendra.


Ashok Ahuja, President and Jitesh Vasani, Secretary, Sushil Thakkar,Treasurer of Nagpur Watch Dealers Association welcomed the guests.


Ved Pahuja co-ordinated the programme. They expressed their gratitude to the CA institute for extending support in conducting the programme. Prominently present on the occasion were RCM CA Abhijit Kelkar, CA Umang Agrawal,CA Suren Duragkar, CA Kirit Kalyani ,CA Swapnil Ghate, CA Sanjay Agrawal, Sadiqbhai Chimthanwala, L S Ahuja and others.