BHUBANESWAR, INDIA - Workshop on “Implications of Goods & Service Tax (GST)”

World Trade Centre Bhubaneswar in association with Xavier Institute of Management Bhubaneswar (XIMB) organized a workshop highlight the implications of Goods & Service Tax here at XIMB Campus, Bhubaneswar on Tuesday, July 19, 2016. Chief Guest Shri. Niten Chandra, IAS, Ex- Commissioner of Taxes, Government of Odisha while stating that the implication of Goods & Service Tax is a welcome step, highlighted the administrative hassles which are going to be refined and stream lined with GST in place. He deliberated on the fact that the implication of GST would only be effective if gets a real understanding and acceptance by the common tax payers be it individuals or industries. Comparing the inclusive tax rates of various other developed countries he said that resistance from tax payers towards higher rates should be countered with systematic orientation about the implication of the proposed Act. He also emphasised that economies of the developing states have established an increase in the gap between poor & rich, thus GST could be tool to bring in a balanced growth more essentially in the developing states.

Earlier Mr. Gopal Agarwal, Director, Indirect Taxation, PricewaterhouseCoopers Pvt Ltd, made his deliberations through a presentation elaborating on the overview, impact & issues of GST. Emphasising on the basics of GST he highlighted the importance & advantages of GST, its structural implications, concepts, mechanism etc. He further discussed on the Model GST law & its provisions. 

Prof. Asit Mohanty, Head, Centre of Excellence in Fiscal Policy & Taxation, XIMB, while presenting a critical scrutiny of the model GST Act & its provisions in India through his presentation deliberated on the structure, operational aspects, advantages & issues of GST. While emphasising on the implication of GST on the taxation model of the country he through various examples showcased its effect on a trade / business transaction & how GST would be influencing the tax liability of the businessmen. 

CA. A.K. Sabat, Partner Sabat & Co., in his addresses analysed GST from a tax practitioner’s point of view. While expressing his views on the Model GST Act he further emphasised that the benefits arising out of GST should be aptly conveyed to the general public so that they are able to take advantage and appreciate the new pattern of taxation. 

Earlier, Ms. Nimeshika Natarajan, Manager, World Trade Centre Bhubaneswar in her welcome address took the privilege to welcome the speakers to the workshop and briefed the audience on the objective of the workshop highlighting the importance of GST and its implementation in various parts of the world. 

The session was attended by more than 100 delegates from the industry, enterprises, students, academia etc. Followed by a question & answer session, Prof. Subha Kant Padhi of XIMB proposed the vote of thanks. 

Dt: 19/07/2016
Xavier Institute of Management, Bhubaneswar

PHOTO (L-R) : Mr.A.K. Sabat, Mr. Gopal Agarwal, MR. Asit Mohanty on the dais with Mr. Niten Chandra, IAS, addressing the workshop on the podium 

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