GST is a reality now. The Goods and Services Tax (GST), India’s biggest tax reform since Independence, was on Friday launched at midnight by President Pranab Mukherjee andPrime Minister Narendra Modi at Parliament’s historic Central Hall. With the stroke of the gong, the current tax rates were replaced by GST rates. GST, which replaces a slew of indirect taxes with a unified one, is set to dramatically reshape the country’s $2-trillion economy. The Goods and Services Tax (GST) is a uniform indirect tax levied on goods and services across the country. GST, as an umbrella tax, will replace central taxes like central excise, service tax, additional duties of excise & customs, special additional duty of customs, besides cesses and surcharges, on supply of goods and services.
he Institute of Chartered Accountants of India (ICAI) and Eastern India Regional Council (EIRC) today witnessed the 68th CA Day Celebrations and also organized a Programme and Panel Discussion on GST at Vidya Mandir, Kolkata. The discussion was addressed by Sri Narendra Modi, Hon’ble Prime Minister of India (Telecasted Live from Indira Gandhi Indoor Stadium, New Delhi).
The Panel discussion & Programme on GST at Vidya Mandir was inaugurated by Mr. Babul Supriyo, Hon’ble Union Minister of Heavy Industries & Public Enterprises. The event was attended by various eminent personalities like CA Manish Goyal, Chairman, EIRC; CA Sandesh Mundra, Ahmedabad;
CA Dilip B. Desai, Baker Tilly, DHC; Sri Sanjay Agarwal, MD, Century Plywood; Sri Atul Tantia, GPT Infra Ltd. & many others.
On this occasion, CA Manish Goyal, Chairman, EIRC said, “GST is a destination based tax which will change the destiny of our country. It will in fact start a new journey for a developed India. The roll out of GST against all odds reflects the determination of our leaders to lead our country firmly to the next level of growth and development. Any new law would have some teething problem in the begging, but as time progresses these would settle. GST would provide a uniform playing field to all the stakeholders from every part of the country, which should lead to good business practices and eradication of grey and black economies.”
The 68th CA Day Celebration programme also witnessed Hoisting of CA Flag by Chief Guest Shri James Kujur, Hon’ble Minister of Tribal Development, Govt. of W.B.followed by taking forward of Swacchh Bharat Abhiyan, tree plantation drive at Purulia, adoption of Rag pickers home, felicitation and honouring of past Chairman, EIRC and other events.