The recently introduced GST regime is putting in place new systems and practices for collection of Indirect Taxes, which need an in-depth understanding and adaption of new Rules and Regulations and mechanisms for smooth transition to the pragmatic System. 

In order to clear the doubts and difficulties faced by the Industry on compliance issues under the new GST regime, WTC Goa in association with Central Board of Excise and Customs - Ministry of Finance, Government of India and The International Centre, Goa , hosted a Workshop on "GST Returns Filing " on 16th October 2017 at Margao Goa.

The Key Speakers at the workshop were Mr Gaurav Jain, IRS, Assistant Commissioner GST and Dr Raghavendra P Raikar, IRS, Assistant Commissioner, GST.

Dr Raikar in his address highlighted the recent changes introduced to the Composition Scheme. The eligibility for enrolment under this scheme is based on Aggregate Turnover which was capped at Rupees 75 lakhs but now has been enhanced to Rupees 1 Crore, thereby making this scheme available to more of the MSMEs. He informed that under this scheme the corporate entities would now have the opportunity of filing Quarterly returns against the Monthly filing of returns earlier. Under this scheme no taxes are required to be collected, hence, no Tax Input Credit can be availed. Dr Raikar emphasized that this would result in lesser cost and less time spent on the Compliance as far as maintenance of accounts are concerned.

Mr Gaurav Jain gave a presentation which put forth solutions to common issues related to the problems on filing of GSTR-3B, GSTR-1 and Trans -1 . The entire presentation was shared with all participants at the workshop for their ready reference.

The open house session was well received by the participants by raising their concerns and problems that they were generally facing at a micro level during the filing of their respective returns under the new GST regime.

Earlier Mr Cyril Desouza, Asst. Director - Trade Promotion, WTC Goa, welcomed the esteemed speakers and the delegates present at the Workshop and highlighted the various initiatives taken by WTC Goa to enhance business productivity and effectiveness with the objective of encouraging and facilitating International Trade. He also later proposed the vote of thanks.

Seen in the Picture from L-R : Dr Raghavendra P Raikar, IRS, Assistant Commissioner, GST, Mr Gaurav Jain, IRS, Assistant Commissioner, GST and Mr Cyril Desouza, Asst. Director - Trade Promotion, WTC Goa.