GST-Awareness Seminar held at Kaveri College

            The Department of commerce of Kaveri college of Arts,Science and Commerce and Board of Students Development, Savitribai Phule Pune University(SPPU) jointly organized One Day Seminar on ‘GST-Awareness’ on 11th January 2018. Dr. S.B. Kharosekar in his inaugural speech guided the students on the role and importance of GST. He said Because of the stupendous response received for

the seminar on GST conducted for faculty of different colleges the college has taken this step of conducting the seminar for the second time especially for the students of different colleges. He added that GST has hailed as the most significant tax reform and uniform tax regime that replaces all other indirect taxes such as VAT, Excise and Service Tax. GST envisages that all transactions and processes will be done only through electronic mode. This will minimize tax payers' physical interaction with the tax officials. Vice Principal, Mrs. Suchismita Mohanty, Mrs. Deepa Sathe, Convener and Hod, Commerce Department, Mr. Anand Buddikot Head, Student Development Officer, Staff members and Students were also present on the occasion.

The Seminar started with the session of CA Mr. Subodh Shah, Chartered Accountant and Managing Director at Excellent Professional Academy Pvt. Ltd, who spoke on the background of

GST and the journey so far. He said The Goods and Services Tax (GST), which was imposed on July 1 last year, radically changed many things in Indian economy. GST is one indirect tax for the whole nation, which will make India one unified common market. Mr. Shah said that e-way bill will remove the necessity to have a transit pass. At present, one needs multiple transit passes if the goods are moving through many states. But under the e-way bill system, even if the goods are moving from Delhi to Kerala, only one e-way bill will be generated.”

The second session was by CMA Narhar.K.Nimkar, He said when a person is importing goods and the goods are purchased from unregistered vendor, the person is liable to pay reverse charge. Cascading (Tax on Tax) effect is eliminated completely; this is one of the biggest advantages in taxation. All the operations are through GST portal only. Valuation rules are simplified. He concluded by saying One Nation One Tax- GST is the national single tax having different variations.

The third session was by C.A Abhishek Dhamne and he spoke on the procedural and administration of GST. He made the participants aware of the various job opportunities under GST.

The Seminar received tremendous response from the participants. Total 75 participants from different colleges of Pune and 69 students from Kaveri College attended the seminar. Overall all the three sessions very informative and the event was grand success under the guidance of Ms Deepa Sathe, and the support faculty and staff members.