Seminar on CAN GST INCREASE COMPETITIVENESS?
March 1, 2017 | News & Events
CAN GST INCREASE COMPETITIVENESS?
November 5, 2016 (Saturday)9:00 a.m. to 1:00 p.m.
Organised by: School of Management &School of Law
Venue: Century Club, 1, Seshadri Road, Bangalore 560001
The School of Management & School of Law, Presidency University, Bengaluru successfully organized the first of its kind Seminar on GST (goods and services tax) in the Century Club, 1, Sheshadri Road.The program took off with inauguration, by lighting of the lamp by the eminent personalitiesalong with the Presidency University Administrators present onthis occasion. The theme of the Seminar was introduced by Professor Soman Nambiar who emphasized on the need to organize a seminar on such a burning issue. The seminar was attended by corporate executives, representatives from Indo-German Chamber of Commerce, Indo-American Chamber of Commerce, Federation of Karnatak Chamber of Commerce and Industries and Bangalore Chamber of Industries and Commerce. Management and law students and respective faculty members of Presidency puersirty also attended the seminar. The proceedings of the seminar are as below:
Technical Session-I: Challenges in Implementing GST
The Technical session-1 started with Dr. Vamshi Krishna Reddy, Dy. Commissioner, Central Excise & Service Tax, Government of India. He introduced the topic by sharing his views about GST, which said that the sole aim of GST is to avoid litigation and should be understandable by everyone. It monitors the credit & debit ledger of the country. He also quoted that “GST is a consumption based tax which will improve our ranking in business and give the required positive changes to the country after it will be implemented.” But the major challenge after implementation of GST would be to train the officers about the new taxation system within the limited time.
The next eminent personality was Mr. ShankaraBhat K.V., Assistant Vice President and Project Manager for GST implementation, ABB India Limited, Bangalore.He started off with GST registration which included supply of services from multi-location. He informed that it shall require state wise GST registration which would increase administrative cost filing of multiple returns assessment. He then spoke about levying of GST which included VAT & CGST rate being charged based on tax rates of suppliers state irrespective of location state customs, place of supply goods & services under IGST Act and determination of supply of goods and services. He concluded by saying that “The important aspects what our country should be focusing on should be supply & dispute resolution.”
The next speaker was ShilendraShuklecha, Director-Indirect Tax, PriceWaterHouseCoopers, Bangalore.He enlightened four major points of GST, they are: constitutional amendment bill, GST law, IT infrastructure and Business preparedness. He also touched upon key challenges which included consumers on rate, exemptions and administrations. He concluded by commenting “Understand the impact of GST and advocacy of government for key issue”
The last speaker for the day was Mr. B. T. Manohar, Chairman, State Taxes & Team GST, FKCCI. He initiated the talk by saying that “Any tax in the country is for the benefit of the consumers.” He also enlightened his knowledge about the unregistered suppliers in the country, their importance, advantages and disadvantages to the country.