The Vidarbha Industries Association (VIA) Taxation and Corporate Law Forum organised the annual programme on tax awareness “Making March Meaningful”. Adv Kapil Hirani for Income Tax, CA Mahendra Jain, Past Chairman of Sales Tax Bar Association, Nagpur on Indirect Taxes (GST) and CA Omprakash Bagdia, Past Chairman of Nagpur Branch of WIRC of ICAI, Nagpur on Company Laws & Precautions Banks Perspective were the speakers. CA Naresh Jakhotia, Project Coordinator, gave the opening remarks while Vishal Agrawal, President – VIA spoke about the benefits session. Adv Kapil Hirani insisted that the taxpayers must update email ID at the portal as all the notices are now served electronically by uploading it on the portal. He highlighted that March 31 is mostly the last date for completing all pending assessments.

 

CA Mahendra Jain, stated that under the GST regime every month reconciliation of books of accounts with GSTR1, GSTR3B and Input tax credits as per GSTR 2B etc. is the need of the hour. CA Omprakash Bagdia said the businessmen should understand legislature in lay language. He said earlier private limited companies were given relaxation from compliance of many company law provisions but with introduction of Company Act 2013 the relaxations to private limited companies are diluted and new restrictions and compliances are imposed. From Banking perspective, CA Bagdia stated that banks' internal credit rating should be obtained as interest on borrowing as dependent on this internal rating. Earlier, Vishal Agrawal welcomed Adv Kapil Hirani, Ashish Doshi welcomed CA Mahendra Jain and CA Sachin Jajodia welcomed CA Omprakash Bagdia. An interactive Q&A session was moderated by CA Naresh Jakhotia. CA Sachin Jajodia proposed a formal vote of thanks.