‘GST will give new dimension to nation’s financial system’

The seminar was aimed at equipping the members with the latest development in the world of taxation which was well attended by more than 250 chartered accountants of the Tricity.

By: Express News Service | Chandigarh | Published:June 11, 2017 5:49 am
GST. Indirect Tax regime, farm income Representational Image

Arjun Ram Meghwal, Minister of State for Finance and Corporate Affairs, on Saturday termed the GST as a milestone in the nation’s economy that will give new dimension to the financial system. While addressing a seminar organised by the Institute of Chartered Accountants of India (ICAI) at IMA Complex in Sector 35, Meghwal said the GST would give a new dimension to the financial system of the country.

“The GST is devised considering the interests of every walk of lives. I urge the chartered accountants fraternity to educate their clients and public at large about the various aspects and aftermaths of GST so that collective contribution can lead nation to above par,” he said.

The seminar was aimed at equipping the members with the latest development in the world of taxation which was well attended by more than 250 chartered accountants of the Tricity.

Chandigarh BJP president Sanjay Tandon said ICAI has also been advocating for the financial transparency in the system. “Previously ICAI also urge for stringent and bold measures proposed in the Union Budget would ensure transparency in electoral funding. Govt too responded equally and has proposed restricting permissible cash donation from any person to a political party at Rs 2,000, among other measures.” he said.

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  1. A
    Arun Kuthiala
    Jun 12, 2017 at 2:58 pm
    The implementation of GST in it's present Avatar and on July 1 is simply not possible even though the government is touting this in all their public meetings. The service providers are not ready, the soft ware is not ready and above all nobody in the trade has been briefed on GST. Through the leaks that are pouring in the trade is apprehensive that this will spell doom for them. The act and rules treat them.like common criminals and not as equal citizens of India. All old stocks need to be cleared by September 2017. How is it possible. Have the people who have drafted the act and rules and those who who have deliberated on these even consulted anybody from the ground level. Are they aware of the realities in retail trade. If this remains as such many will find it prudent to close shop and seek other avenues of employment
    Reply
  2. Y
    Yogesh Shah
    Jun 11, 2017 at 9:58 pm
    Positive & Negative both situations face by common men of India. Coming days speak that GST right or wrong. We have lot of populations. Our infrastructures & poor populations two both points create doubt for the success of GST. Let's see the Demolition's situations not create again otherwise country divided into numbers of small countries.
    Reply
  3. C
    Chander Mohan Kapahi
    Jun 11, 2017 at 7:18 pm
    Only gov news channel news income tax s tax or banking with mutual fund daily news
    Reply
  4. R
    Rajesh Nohria
    Jun 11, 2017 at 5:28 pm
    For illiterate Small scale Industry and trade one man show people doing interstate business GST will be disaster as they have no appropriate system and funds to implement such a complicated taxation procedure with 49 returns a year instead of 2 or 4 and lots of other formalities without engaging a heavily paid taxation expert beyond his capacity and even if that expert made mistake the innocent owner will be penalised . So these GST rules must be reconsidered and simplified in the interest of such small scale Industry and trade people to encourage the self employment which is the backbone of our nation.
    Reply