To analyse the significant issues in service tax, considering the relevance of Goods and Service Tax (GST) for the industry, a workshop on GST was organised by the Institute for Financial Management and Research (IFMR) and Associated Chambers of Commerce and Industry (Assocham), southern region, at Sri City here on Thursday.
IFMR Director P.K. Biswas initiated the proceedings by elucidating on the nuances of GST Bill, which the Central government is aiming to implement with effect from April 1, 2017. Sri City’s Development Commissioner (ITS) S.K. Samal opined that introduction of GST would be a very significant step in the field of indirect tax reforms in the country and urged the participants to discuss in detail the GST to get their apprehensions cleared.
Chief Commissioner (Service Tax), Chennai, C.P. Rao, spoke on the issues and implications of service tax pertaining to the special economic zones and domestic tariff zones.
Former DG of Academy of Central Excise, Customs & Narcotics M. Ponnuswamy delivered a lecture on various aspects of the GST bill, dwelling on the parameters and the bill’s likely impact on industries.