The procedural aspects of goods and Services Tax (GST) have to be complied in a timely manner so that it becomes a win-win situation for both - the department as well the taxpayer, said V D Kamthewad, Joint Commissioner of State Tax (Admin) and Additional Commissioner of State Tax (Nagpur Division) while speaking at the three-day ‘Advanced Refresher Course on GST’ organised here by the Nagpur Branch of ICAI recently. Kamthewad was chief guest on the occasion.
It has been four years since the introduction of GST law. Since then there have been a lot of changes and modifications in the law. To make the members aware of latest amendments as well as to equip them with changing procedural requirements, the Nagpur Branch of ICAI conducted the session.
Kamthewad further said that a lot of modifications and measures have been taken by the GST Council for easing out the law provisions which includes amendments in ITC and negative list. The Government is working hard to make things transparent and automatic, he added.
Kamthewad said that Corona had made things difficult for businesses and the general public. He pointed out that the State Department has completed more than 10,000 assessments during the Corona pandemic. VAT assessments related to the previous period are still in process. He urged that young CAs should come forward for doing practice in Appeals and Tribunals.
He congratulated CA Saket Bagdia and his team for taking efforts in organising a meaningful workshop on advanced refresher course on GST.
Kamthewad, being himself an avid marathon runner, appealed to professionals in practice to take special care of health. “Be systematic and you will be able to do everything because ‘Work life Balance’ is very essential,” he highlighted. One should avoid haste and should try to do work methodically, he said.
“Chartered Accountants have ensured the implementation of GST law in our country which has changed the entire face of the economy,” said CA Saket Bagdia, Chairman, Nagpur Branch of ICAI. GST law practice is the basis for many Chartered Accountants and the assessee is able to comply with law provisions with expert advice from CAs.
The refresher course was attended by a large number of Chartered Accountants. Expert speakers on the topics deliberated on topics of interest for the benefit of members. CA Prateek Gupta explained about registration issues and intricacies in time and place of supply provisions. The issues in Input Tax Credit and latest pronouncements were explained by CA Preetam Batra.
The issues in RCM, export refunds and complexities in GST applicable on works contract and real estate industry were explained by CA Ritesh Mehta and issues in annual returns, audits and procedural issues were made understood to participants by CA Kunal Budhraja. With increasing assessments and departmental audits, reply to SCN and how to face search and survey were explained nicely by
CA Varun Vijaywargi. The queries of all participants were answered by all the speakers in a panel discussion held on the last day.
The session was coordinated by CA Sanjay Agrawal, Secretary, CA Jiten Saglani, Vice Chairman, CA Akshay Gulhane, Treasurer, CA Kirit Kalyani, Immediate Past Chairman and CA Suren Duragkar, Past Chairman.