Inaugurating the Seminar Shri Manoj K Arora, Additional Director General of Export
Promotion Department of Revenue, Ministry of Finance said
that major source of revenue of Central Government come from Direct and
Indirect taxes. Various reforms are taking place in these areas. On the Direct
taxes side it is Direct Tax Code which takes almost 60 years old system to a
new system where the efforts are being made to keep the system transparent and
efficient. On the Indirect taxes side it is Service tax in which more than 120
services are under tax net. Only seven services are under negative list. After
coming of GST there would be major transition, most of the issues in Sate
Government have been resolved and Department is prepared for the new system of Tax
Administration. There is going to be huge challenge of Compliance after coming
of new tax regime and the professionals like Company Secretaries have to
resolve these challenges. For ensuring Compliance in fair manner under Central
Excise and Service Tax there is a dearth of serious Professionals like Company
Sectretaries.
CS M G Jindal, Chairman Northern India Regional Council of ICSI, delivering
his Welcome Address said that there
is an immense scope for professionals in indirect taxation. He said that Company
Secretaries can provide various services in Central Excise, VAT, Service Tax
etc. and play a vital role for ensuring the various regulatory compliances. He
said that only such professionals can deliver best to their clients or
industry, who keep pace with the fast changing Corporate World and keep on
updating themselves regularly.
CS Vineet Chaudhary, Chairman, Professional Development &
Programs Coordination Committee, NIRC, Welcomed the dignitaries and conducted the proceeding of the program.
CS Manish
Gupta, Treasurer,
NIRC, also spoke on the Occasion.
CS Shyam
Agrawal, Vice-Chairman,
NIRC, proposed vote of thanks at the
end of the inaugural session of the program.
Technical Session:
The technical session was chaired by Shri Upender Gupta, Additional Commissioner, Central Board of
Excise and Customs who also gave the overview of GST and mentioned that it is a
destination based tax. He informed that
various committees have been formed by the Government to sort out the
unresolved issues between the Centre and the State. The Technical sessions were
addressed by Ms. Anjalika Chopra, Director,
Delloite Touche Tohamtsu India Pvt. Ltd.
on the topic Important Obligations & Input Tax Credit Mechanism under
VAT. Mr.
Rakesh Garg, Chartered Accountant on the topic Procedural &
Practical Aspects of VAT. CS Bimal Jain on
the topic Overview of New Service Tax Regime / Major Changes, VCES 2013, Reverse/Joint Charge and
Directors/Partners Service. Mr. R Krishnan, Advocate on the topic Search Seizure proceedings, replying to show
cause notice; adjudication of show cause notices, filing of appeals/stay
applications,/ misc. applications
- covering practical and
procedural aspects - role of practising company
secretaries as counsel or authorised representatives in the above eventualities.
Mr. Puneet Agrawal, Partner, Athena
Law Associates on the topic New Penal provisions & Practical Aspects of
Handling Adjudication & litigation Under Service Tax Law. Mr. Siddharth
Srivastava, Managing Partner – SKS Associates – Law Firm on the topic
Business Impact of changing valuation principles under Central Excise &
Service Tax.
The
Seminar offered a great learning opportunity for professionals.
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