Bhubaneswar, 26/9 ( Odisha samachar / Abhisek Mohanty )- : Gokul Chandra Pati, Odisha Chief Secretary inaugurated the Institute of Company Sectretaries of India (ICSI) National Symposium on Goods & Service Tax here Saturday.
Addressing the symposium, Chief Secretary appreciated the efforts of the ICSI for organising such a programme in Odisha on GST. He spoke about the benefits that are likely to accrue to the stakeholders as a result of such tax reforms. The Finance Ministry is working very strategically for rolling out GST. Centre & States need to agree for rolling out reforms in Inditrect Taxes. He said that there will be improvement in tax revenue after rolling out of GST. Full benefit of indiret taxes can be accrued by GST. The advantages of GST will strengthen the federal mechanism in the Country and substantially reduce the cost of compliance and Tax evasion will go down, he added.
Biswajit Das, Advocate, Supreme Court of India elaborated the benefits after implementation of GST.
CS Mamta Binani, Vice President, the ICSI in her address said that one of the biggest taxation reform in India the GST is all set to integrate State economies and boost overall growth. The introduction of GST at the Central level will not only include comprehensively more indirect Central taxes and integrate goods and services taxes for the purpose of set-off relief, but may also lead to revenue gain for the Central through widening of the dealer base by capturing value addition in the distributive trade and increased compliance she said.
While CS Sunita Mohanty, Chairperson, EIRC of the ICSI, Kolkata presented welcome address CS D. Mohapatra, Chairman, Bhubaneswar Chapter introduced the dignitaries.
CS Sutanu Sinha, Chief Executive & OS, the ICSI proposed a vote of thanks during the programme.
The symposium was divided into three technical sessions wherein Niten Chandra, IAS, Commissioner of Commercial Taxes, Odisha, T B Chatterjee, Chairperson, Indirect Taxes Committee, The Bengal Chamber of Commerce and Industry & Chief Corporate Officer, Legal and Corporate Affairs, DIC India Ltd, A. K. Patnaik, IRS, Deputy Commissioner (Retd.), Central Excise, Customs and Service Tax, Bhubaneswar, Pawan Dubey, Partner, Lex Bolster Global LLP, New Delhi, CS J. B. Das, Practicing Company Secretary, Bhubaneswar addressed on the subject “GST Framework, Implementation Challenges – Transactions under GST, Challenges In GST With Regard To Inter-State Movement Of Goods And Services
A large number of professional across the Country attended the National Symposium.