Coimbatore chapter of the Indian Chamber of Commerce and Industry (ICCI), today organised a seminar on Goods and Services Tax (GST).
The session was hosted at the Chamber hall in Avinashi Road from 3 pm to 6 pm today.
This four part session which was kick-started today will continue to host it's next key note sessions on 6th, 20th and 27th of January, 2017 at the Chamber Hall on Avinashi Road.
The keynote speaker for today's session was S. Jaikumar, Country Head of M/S Swamy Associates. Vanitha Mohan, President of ICCI Coimbatore Chapter and C Balasubramanian, Vice President - Law & Taxation participated in this event. Entrepreneurs and employees of various organizations also attended the seminar.
This session was an eye opener for the participants. Taxes are indeed a difficult subject for common man. It looks like a maze of legalese and maths, signifying nothing much. With the GST, the government is aiming to simplify it for the general public. However, still there is lot of doubts and misconceptions pondering over minds of the common man regarding the GST concept, which will be implemented from 2017.
Jaikumar, Country Head of Swamy Associate stated that this 4 part seminar will give details regarding GST from scratch educating participants on the insights of GST. During today’s session, he threw light on subjects like introduction of GST, composition schemes, e-commerce, TCS, TDS, registration, transition and exports. He also stated that if GST is not introduced, it will lead to tax crisis.
“It is a big misconception that GST is one nation one tax. It is actually dual tax. 'GST is basically destination based consumption tax.” he said.
