Effective implementation of the GST ( Goods and Services Tax) regulations for the growing economy of the country is the need of the hour, Dinesh Chander Bajaj, Member Airports Economic Regulatory Authority of India said here.
Delivering his presidential address on the Silver Jubilee celebrations of the Patiala chapter of the Institute of Cost Accountants of India, Bajaj mentioned about the growth of tax contribution in the GDP of the country adding that required software for implementation has already been developed for its smooth working and that it would be very integrated system with out much of the manual requirements.
Anil Kumar Gupta, Commissioner Customs Export at Bombay was the Guest of honor at the function. He mentioned about the trust deficiency between the states and the centre over the applicability of the GST. With its implementations some states may gain while some may be losers. It is here that efforts are afoot for fair compensation.
Patiala Chapter of Cost Accountants organized a one day seminar to share the knowledge to spread tax literacy and GST awareness in view of Indian economy getting geared to shift the tax incidence from origin-to-destination principle.
In his address, UKPanda, Chairman PSTCL emphasized about the importance of regularly updating the capability of the professionals in their respective fields by organizing training workshops and such seminars
The programme was followed by two technical sessions, where in the experts in their respective field had detailed deliberations.
The seminar was held in Thapar University and was attended by more than 100 delegates from various Industrial houses, other chapters and members of the profession. VK Geol ex-chairman of the chapter, while narrating the history of the chapter, mentioned about the Patiala chapter having successfully covered a period of 25 years, that a number of candidates from Patiala having cleared their ICAI exam have reached responsible positions in various sectors of Industry all over India.
The the inaugural session, the visiting dignitaries felicitated the founder members and appreciated the good work done by them.
SC Arora Director Finance of PSPCL highlighted the detailed development towards having improved system in power sector and mentioned about the need to have better power tariff for economic working of this sector. Presently power tariff is being regulated through the regulatory commission and it is here, more detailed data is to be provided.