Public Affairs Centre (PAC) held a Roundtable “New Beginnings” on Goods and Services Tax (GST) as an attempt to discuss the impact the new tax reforms will have on the economy and the complexities in its implementation at the Oberoi Hotel on July 22nd, 2017. Attending the roundtable were Mr Ritvik Pandey, I.A.S., Commissioner for Commercial Taxes, Government of Karnataka, PAC Chairman Justice M N Venkatachaliah, industry associations including chief guest Mr Vinod Kumar, I.R.S., Principal Chief Commissioner, Central Taxes, Government of India and guest of honour Mr Shekar Viswanathan, Vice Chairman, Toyota Kirloskar Motors Pvt Ltd.
Highlighting the importance of such events Director of PAC Mr G Gurucharan said, “There is a lot of apprehension among the general public regarding GST, we hope that through debate and discussion we would be able to address many issues that currently surround this landmark initiative by the Government of India.”
Welcoming such roundtables to help clear the air around GST, Mr Kumar said, “Such roundtables are welcome since they bring both industry and the government at the same stage to discuss the smaller nuances of GST. We are hopeful that the GST will reduce the burden from the common man and simplify a complicated taxation structure.”
Bringing about the implications of the GST on the corporate world, Mr Shekar Viswanathan, Vice-Chairman of Toyota Kirloskar Motor Private Limited, India said, “We partnered with PAC to help bust the myths and misunderstandings surrounding the GST. We feel that the GST will bring the whole country on one platform and which will help reduce prices for many products that will help boost sales.”
Throwing light on the immediate and long term effect and state level impact of the GST in Karnataka was Mr Pandey who said “The road to GST was not an easy one considering the complications involved in simplifying the entire tax system in the country”. Yet he stressed that the GST would to a great extent bring down prices of essentials in the state.
A Panel discussion was held that aimed at answering several question surrounding the GST. The panel included some of the most experienced people in the field of economy and taxation which includes Mr G Narayanaswamy, Commissioner, Central Taxes, South Commissionerate, Bengaluru, Mr. Ravi Prasad, Joint Commissioner of Commercial Taxes, Government of Karnataka, CA. Mr. V. Raghuraman, representative, Institute of Chartered Accountants of India (ICAI) – Bangalore Branch, Mr. Praveen William, Partner – Indirect taxes, KPMG and Ms. Jayashree Parthasarathy, Partner – Tax and Regulatory Services, E&Y. The session was moderated by noted economist Mr Narender Pani.
The event was supported by Toyota Kirloskar Motors Pvt Ltd.
For glimpses from the event click HERE
For the teaser of the event click HERE
Click HERE for information on the GST
An overview of the GST that was presented at the conference is available for your perusal HERE
Press Release – English