PHD Chamber To Organise Workshop on Goods And Services Tax
Sunday - April 16, 2017 7:42 pm ,
Category : BHOPAL
PHD Chamber of Commerce and Industry will organise a one-day awareness workshop on Goods And Services Tax (GST) on 20th April at Hotel Sayaji, Van Vihar Road. The workshop that will begin at 10.30 am will discuss various issues pertaining to GST. Chief Commissioner, Custom Central Excise & Service Tax Bhopal, Hemant A. Bhat; Deputy Commissioner, Dept. of Commercial Tax Madhya Pradesh, Sudip Gupta, and Tax Consultant R S Goyal will be the key speakers.
Regional Director, PHD Chamber of Commerce, R.G. Dwivedi in a press release issued here on Sunday said “The Goods and Services Tax (GST) is a ground-breaking reform for the Indian economy's indirect tax regime. Through a tax credit mechanism, this tax is collected on value-added goods and services at each stage of sale or purchase in the supply chain. The Goods and Services Tax(GST) is a value-added tax that will replace all the indirect taxes levied on goods and services by the government, both central and states, once it is implemented. The system allows the set-off of GST paid on the procurement of goods and services against the GST which is payable on the supply of goods or services. However, the end consumer bears this tax as he is the last person in the supply chain.”
Dwivedi further said that “The basic idea of this taxation reform is to create a single, cooperative and undivided Indian market to make the economy stronger and powerful. GST is a value-added tax, which will eliminate the cascading effect or double-taxation effect on the cost of goods and services down the value chain. GST will certainly impact the structure, incidence, computation of indirect taxes leading to a comprehensive restoration of the current tax regime in the country”.
Regional Director, PHD Chamber of Commerce, R.G. Dwivedi in a press release issued here on Sunday said “The Goods and Services Tax (GST) is a ground-breaking reform for the Indian economy's indirect tax regime. Through a tax credit mechanism, this tax is collected on value-added goods and services at each stage of sale or purchase in the supply chain. The Goods and Services Tax(GST) is a value-added tax that will replace all the indirect taxes levied on goods and services by the government, both central and states, once it is implemented. The system allows the set-off of GST paid on the procurement of goods and services against the GST which is payable on the supply of goods or services. However, the end consumer bears this tax as he is the last person in the supply chain.”
Dwivedi further said that “The basic idea of this taxation reform is to create a single, cooperative and undivided Indian market to make the economy stronger and powerful. GST is a value-added tax, which will eliminate the cascading effect or double-taxation effect on the cost of goods and services down the value chain. GST will certainly impact the structure, incidence, computation of indirect taxes leading to a comprehensive restoration of the current tax regime in the country”.
Those who are interested in attending the workshop may register themselves by sending an email to phdcci_bpl@yahoo.com or may call at 9826050696.
About PHD Chamber Of Commerce:
Established in 1905, PHD Chamber Of Commerce & Industry is a proactive and dynamic multi-State apex organisation working at the grass-root level and with strong national and international linkages. The Chamber acts as a catalyst in the promotion of industry, trade and entrepreneurship. PHD Chamber, through its research-based policy advocacy role, positively impacts the economic growth and development of the nation.
About PHD Chamber Of Commerce:
Established in 1905, PHD Chamber Of Commerce & Industry is a proactive and dynamic multi-State apex organisation working at the grass-root level and with strong national and international linkages. The Chamber acts as a catalyst in the promotion of industry, trade and entrepreneurship. PHD Chamber, through its research-based policy advocacy role, positively impacts the economic growth and development of the nation.
