A Workshop on ‘Goods and Services Tax’

July 1, 2017

Indian tax system has been suffering since time from the vices of multiple taxes, lack of transparency and cascading effect imposed under scores of laws inspite of introduction of VAT at Centre and States level. The Goods and Service Tax (GST) is being considered the panacea to cure all the existing anomalies and complexities in the indirect system in the country and to make nation as one market. Goods and Services tax (GST) has been therefore identified as one of most important tax reforms post-independence. It is a tax trigger, which will lead to business transformation for all major industries.

With GST being implemented from July 01, 2017 it is anticipated that the tax base will be comprehensive, as virtually, all goods and services will be taxable, with minimum exemptions. Thus, it is important for all to get acclimatized with this new regime. With this concern, the Internal Quality Assurance Cell (IQAC) of the College through its Staff Welfare Association organized half day workshop on “Good and Service Tax (GST)” for the students and staff on Monday, July 03, 2017 at 1:30 PM, in the College Seminar Hall. CA Gautham Pai, Practicing Charted Accountant, Mangaluru was the workshop facilitator.

CA Gautham Pai while facilitating the session said GST is a comprehensive indirect tax levied on goods as well as services, subsuming multiple taxes, in line with the concept of “One Nation, One Tax”. Moreover, it is the Government of India’s initiative towards reducing the compliance burden on assesses, increasing the availability if credits which were earlier not eligible such as VAT credit against excise or service tax, remove the cascading effect of taxes, bringing in more automation and simplifying the tax structure. He explained the key concepts and narrated the impact of GST on common man, business and the economy as a whole.

Principal Dr. K. V. Malini in her presidential address remarked that a teacher of any discipline has the necessity to learn about the tax regime of the Nation. This workshop has been thoughtful in realizing the said objectives.

Staff Secretary and Head, Department of Business Administration Mrs. Pushpalatha, delivered the welcome address and emphasized on the objectives of organizing the workshop. IQAC Coordinator Mrs. Shanthi Roche proposed the vote of thanks. Mrs. Dhanyshree compered the formal programme.

The workshop seemed to be very educative, informative and apt in creating timely awareness about GST. The students and faculty had an interactive discussion on emerging aspects of the new taxation system. The session strived to achieve the core value of contributing to the national development.

Report By:

Mrs. Premalatha V.,

Mrs. Shanthi Roche,

IQAC Coordinators

Last updated by Prathima Baliga.

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