CII organizes Workshop on ‘Two Years of GST – Simplifying Business’

By Tricitynews

Chandigarh 29^th May:- GST has been one of the biggest tax reforms in India with the GST Council committed to enforce a sound taxation system, said Vivek Pratap Singh, Excise & Taxation Commissioner and Secretary Vigilance, Government of Punjab while addressing the inaugural session of the ‘CII Workshop on GST – Moving Forward: 2 Years of GST Simplifying Business’ here at Chandigarh today. He added that we are bound to face routine problems on account of such a major transformation and every possible effort is made to understand the hardships of the tax payers and provide appropriate solutions. He assured that issues such as Tax Compliance, Fair Audits, GST Return Forms and the like shall be dealt in consultation with the industry members and their views shall most certainly add to the policy reforms.

Kishori Lal, Principal Commissioner, Central GST Commissionerate, Chandigarh, Ministry of Finance, Department of Revenue, Government of India also graced the occasion and opined that GST is changing very fast and therefore it is important for tradesmen and consultants to keep abreast of latest developments. He further said that there are three important stakeholders in any tax regime, viz., Tax Administrator, Tax payer and Tax Consultants; each having a crucial role to play in the enforcement of a tax system. It is important to identify the gaps and loop holes in any fiscal policy and fix them along with all the stakeholders.

The faculty for the day long workshop was Alok Krishnan (CA), Institute of Chartered Accountants of India and Founder Chairman, All India VAT Forum. He mentioned that the Goods & Services Tax as implemented in India is by far one of the best among the SAARC countries and is extremely promising, esp. for the tax payers. He also said that the government is very sensitive to the feedback is incorporating the necessary amendments as suggested by the tax payers, deemed in benefit of the Indian Industry and the citizens of the country.

Rohit Grover, Past Chairman, CII Chandigarh State Council and MD - JREW Engineering Ltd welcomed the dignitaries on behalf of CII and said that the GST implementation has resulted in a uniform tax rate structure across states, reduction in compliance cost, removal of cascading effect of double taxation, and enhancing transparency in the tax administration.

Ravneet Singh Khurana, Additional Commissioner, Excise & Taxation, Government of Punjab was also present during the inaugural session of the workshop.

More than 35 participants benefitted from the interactive workshop and familiarized themselves more on the contemporary changes in the GST tax system.