In the States

FICCI Business Digest - - Contents -

“The state gov­ern­ment is all ready to im­ple­ment Goods and Ser­vices Tax (GST),” stated Dr. V K Baby, Spe­cial Sec­re­tary in-Charge Taxes, Gov­ern­ment of Ker­ala, while inau­gu­rat­ing an in­ter­ac­tive work­shop on 'GST and its Im­pli­ca­tions' or­gan­ised by FICCI in as­so­ci­a­tion with the Min­istry of Fi­nance, Gov­ern­ment of In­dia in Kochi on April 29, 2016.

GST will cre­ate won­ders in our coun­try's tax regime. It will in­te­grate whole coun­try eco­nom­i­cally. It will be a win-win sit­u­a­tion for ev­ery­body from man­u­fac­tur­ers to ex­porters and sell­ers. As a con­sumer state Ker­ala can gain more from this GST. “An in­de­pen­dent dis­pute re­dres­sal mech­a­nism is needed while im­ple­ment­ing GST,” he added.

“With a view to pro­vide an in­sight into the GST frame­work as cur­rently en­vis­aged and the man­ner in which trade and in­dus­try need to pre­pare them­selves for a smooth tran­si­tion to the GST, FICCI in col­lab­o­ra­tion with the Min­istry of Fi­nance, Gov­ern­ment of In­dia, along with Cen­tral Board of Ex­cise and Cus­toms has been or­gan­is­ing work­shops in var­i­ous parts of the coun­try; al­ready in five cen­ters in the coun­try this sem­i­nar has been or­gan­ised and Kochi be­ing the sixth Cen­tre,” said Deepak L Aswani, Co Chair­man, FICCI Ker­ala State Coun­cil.

“GST's self-pol­icy mech­a­nism will ben­e­fit hon­est tax pay­ers,” said Ravneet Singh Khu­rana, Deputy Com­mis­sioner-Cen­tral Board of Ex­cise and Cus­toms, Min­istry of Fi­nance, New Delhi, while pre­sent­ing 'GST - In­tro­duc­tion and Over­view'. GST will cre­ate a com­mon na­tional mar­ket to help free flow of goods. Ker­ala get boon from des­ti­na­tion based tax­a­tion and it will re­flect in con­sumer prices also, ob­served Khu­rana.

Sachin Menon, Chief Op­er­at­ing Of­fi­cer - Tax & Reg­u­la­tory Ser­vices and Na­tional Head - In­di­rect Tax KPMG, Co-Chair­man FICCI's Task Force on GST, led a ses­sion on 'GST - Impact on Trade and In­dus­try and how should they get ready'. Vishal Pratap Singh, Deputy Com­mis­sioner - Cen­tral Board of Ex­cise and Cus­toms, Min­istry of Fi­nance, New Delhi, led a ses­sion on 'GST - Busi­ness pro­cesses – Reg­is­tra­tion'. K Ja­yara­man, part­ner, BPSS&Oop­er­a­tions, KPMG, spoke about sup­ply chain me­chan­ics in the GST regime.

K B Rajan, Pres­i­dent, In­dian Cham­ber of Com­merce & In­dus­try, Kochi; K K Pillai, Pres­i­dent, Cochin Ex­ports Pro­cess­ing Zone In­dus­tries As­so­ci­a­tion, Kochi; G Gopal Shenoy, Trea­surer, Ker­ala Mer­chants Cham­ber of Com­merce, Kochi and Savio Mathew, Head, FICCI Ker­ala State Coun­cil, also shared their per­spec­tives.

Dr. V K Baby, Spe­cial Sec­re­tary in-Charge Taxes, Gov­ern­ment of Ker­ala, ad­dress­ing a ses­sion. Also seen are (L to R): Savio Mathew, Head, FICCI Ker­ala State Coun­cil; K B Rajan, Pres­i­dent, In­dian Cham­ber of Com­merce & In­dus­try, Kochi; Deepak L Aswani, Co- Chair­man, FICCI Ker­ala State Coun­cil and G Gopal Shenoy, Trea­surer, Ker­ala Mer­chants Cham­ber of Com­merce, Kochi.

L to R: Preethy Menon, As­sis­tant Di­rec­tor, FICCI Ker­ala State Coun­cil; Ravneet Singh Khu­rana, Deputy Com­mis­sioner - Cen­tral Board of Ex­cise and Cus­toms, Min­istry of Fi­nance; Vishal Pratap Singh, Deputy Com­mis­sioner - Cen­tral Board of Ex­cise and Cus­toms, Min­istry of Fi­nance; Sachin Menon, Chief Op­er­at­ing Of­fi­cer - Tax & Reg­u­la­tory Ser­vices and Na­tional Head - In­di­rect Tax KPMG, Co-Chair­man FICCI's Task Force on GST and K Ja­yara­man, Part­ner, BPS S&O - Oper­a­tions, KPMG.

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