Seminar On "Making Of J&K GST Ready".

IIPA, J&K Regional Branch in collaboration with CII J&K State Council and NIRC organized special seminar on "Making J&K GST Ready" on June 24, 2017 to sensitize and create awareness on the national and state perspective of GST, Virender Chauhan CA, GST Expert said "GST will be ushering in a harmonized national market of goods and services. Seminar experienced the august gathering of top industrialists, account professionals, officers, businessmen, traders and employees. Mr P K Bhat, Addl Commissioner, Commercial Tax was the Chief Guest for the seminar. Various speakers addressed and answered the queries of the audience.
Mr P K Bhat addressed the audience and shared "I am thankful to CII for organizing this timely seminar on GST. I have personally represented the state in the GST Council and empowered committee, however I am not in a situation to disclose the current situation of implementation in the state. We will be able to give clarity in next few days. Regardless, we all needed to be aware and sensitized. I am very positive that a solution will be taken sooner. Our department has been proactively working along with the industry and traders for registration and I would encourage everyone in the state for registration. Our offices are working round the clock. The GST facilitation center is working 24 x 7 and all are most welcome to take the benefits."
CA Virender Chauhan, GST Expert from VG Learning, gave a very detailed presentation on the overview of GST, very specifically focused on each thrust sector of the state. He also explained the online and daily transactions that are expected to be put in place after the implementation. He stressed upon the various scenarios for various industries under the GST regime. He also explained how easier the daily transactions will become and how smooth it will be to handle the account books and online filing and transactions.
Mr Rahul Sahai, Chairman, CII J&K State Council presented the industry perspective stating that "CII as an industry body, welcomes GST and supports its stand in bringing significant gains for economic growth, employment and exports. To help prepare the industry for GST, CII has also been organizing GST training workshops and educational seminars in various cities. CII has organized various initiatives in order to increase awareness about GST. We are hopeful that the GST will be implemented soon and the efforts have been made in this direction."
CA Sudhir Kumar Arora, Chairman, J&K Branch of NIRC of the ICAI gave special emphasis on the perspective of CA professionals, stating “Our community supports GST implementation wholeheartedly and would like to put it on records that in case of delay, the industry, businesses and consumers will suffer majorly. ICAI has remained an active partner right from the beginning of formulation of law and has been proactively and positively supporting the implementation. We would encourage the stakeholders to start focusing on implementation and training."
Dr C M Seth, Vice Chairman, IIPA J&K Regional Branch & Mr Chander Gulhati, Executive Member of IIPA, stressed that implementation of GST is a win-win situation for everyone. They further added “GST is the biggest taxation reform in the economic history of the nation is a comprehensive step towards unifying the national goods and services market shall lead to a simplified, assesse-friendly tax administration system. Once implemented, it will subsume all of the Central and State-level duties and taxes, thus making the country a national market and would contribute significantly to the growth of the economy."
Among present, Mr K C Sharma, from Chenab Textiles, Mr Vikrant Kuthiala, Mr Anil Suri, Prof Alka Sharma, Director, The Business School, Prof B C Sharma, Mr Ravnish Gulati, Mr Jaspal Singh, Plant Head, Grauer & Weil, Mr Jigmet from CII Ladakh Zonal Council and various representatives of trade bodies, industry associations, CA association etc.