Coaching Classes of “ICAI” Inaugurated

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Coaching Classes of  “ICAI”  Inaugurated by : hon’ble Dr.Justice AR.Lakshman, Former Judge,

Coaching Classes inaugurated by hon’ble Dr.Justice AR.Lakshman, Former Judge,

Coaching Classes inaugurated by hon’ble Dr.Justice AR.Lakshman, Former Judge,

 

 

 

The Regional Council of the Institute of Cost Accountants of India

organized Professional Development Programme on “GST, Income

declaration scheme – 2016”

Chennai, August 2016: The Regional Council of the Institute of Cost accountants of India

organized the Professional Development Programme on GST, Income declaration Scheme 2016

and Oral coaching classes inaugurated by hon’ble Dr.Justice AR.Lakshman, Former Judge,

Supreme Court of India & Former Chairman, Law Commission of India.

On this occasion CMA. V Murali, Chairman, Southern India Regional Council of The Institute of

Cost Accountants of India said, the Central Government under the dynamic leadership of Our

Honorable Prime Minister Shri Narendra Modiji has successfully piloted the GST bill in both the

Houses of Parliament. This is one of the most important indirect Tax reforms which have a great

impact on various sectors of our economy. The Southern India Regional Council of the Institute

of Cost Accountants of India organized the massive program on the newly enacted GST Act to

impress upon the cost accountants, members from industry and CEOs, CFOs regarding the

benefits derived from the ONE NATION-ONE TAX- ONE MARKET Scenario. Our Honorable

Finance Minister Shri Arun Jaitleyji should be complimented for tactfully handled the entire

issue in the parliament by passing the Bill Unanimously. Mr. Murali further added that this GST

Regime will pave way for the ease of doing business and will considerably reduce the

compliance cost incurred by the Trade, commerce and industry and it is one more feather in

the cap of the present Union Government.

Dr.Justice AR.Lakshman, Former Judge, Supreme Court of India said, At the outset let me thank

CMA V.Murali, Chairman, SIRC, Shri P S Vasudevan, Shri K Vaitheeswaran and CMA N S

Srinivasan, Central and Regional Council Members, Cost Accountants, Members from Industry

for inviting me to inaugurate the first Professional Development Programme.

It is said – Behind every successful business decision there is always a Cost Accountant. You are

an integral part of trade, commerce, industry and business. In fact, cost accountants are playing

an indispensable role in the growth of our Indian Economy.

Set up by an Act of Parliament in 1959, this Institute is playing a sheet anchor role in the growth

of industry. The Institute is the 2 nd largest cost and management accounting body in the world

and has more than 5 Lakhs students and 60000 members who are occupying pivotal positions

in India and around the world. For professionals knowledge is power. A thorough knowledge of

the law is imperative to professionals who have to guide the industry, their employers and their

clients.

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The Regional Council of the Institute of Cost accountants of India organized the Professional Development Programme on GST, Income declaration Scheme 2016 and Oral coaching classes inaugurated by hon’ble Dr.Justice AR.Lakshman, Former Judge, Supreme Court of India & Former Chairman, Law Commission of India.

 

On this occasion CMA. V Murali, Chairman, Southern India Regional Council of The Institute of Cost Accountants of India said, the Central Government under the dynamic leadership of Our Honorable Prime Minister Shri Narendra Modiji has successfully piloted the GST bill in both the Houses of Parliament. This is one of the most important indirect Tax reforms which have a great impact on various sectors of our economy. The Southern India Regional Council of the Institute of Cost Accountants of India organized the massive program on the newly enacted GST Act to impress upon the cost accountants, members from industry and CEOs, CFOs regarding the benefits derived from the ONE NATION-ONE TAX- ONE MARKET Scenario.

 

Dr.Justice AR.Lakshman, Former Judge, Supreme Court of India said,  The Goods and Services Tax Act has just recently been passed by Lok Sabha and is an important legislation that will have an impact on industry, trade, commerce, professionals and people at large.  The new GST Act is an important reform in the history of Indirect Taxes. The proposed GST regime scores over the existing multiple taxes regime on various points some of which I am touching here.

1)One Nation, One Market, One Tax, 2)Uniform Tax Rate, 3)Single Point Taxation, 4)Easy Input  Credit, 5)System Driven, 6)Revenue Leakage & Seepage Prevented, 7)Prevents Corruption being System Driven, 8)Documentation Made Easier, 9)Same Rate Applicable both for Service Tax, Excise Duty & VAT, 10)Cascading Effect avoided as there is no Multiplicity of Tax, 11)Wrong Declaration of place of Manufacture, Bill Trading &    Maneuverability Prevented, 12)Litigation Will be Considerably Reduced, 13)Nexus of  Middlemen will be Broken, 14)Transparent  Accounts,  Systematic Disclosure norms and Easy Tax Credits made Possible, 15)Online  System will track Transaction at every Stage making it  possible to detect evasion, 16) More Accountable Tax regime will be made Possible Due to the Introduction of GST, 17)Ease of doing business is facilitated by GST regime.

 

I appreciate the Southern India Regional Council of the Institute of Cost Accountants of India and its dynamic Chairman Murali for organizing this GST programme within a record time.

 

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