The Goods and Services Tax (GST) & Indirect Taxes Committee of The Institute of Chartered Accountants of India (ICAI) commenced its two-day national conference on Goods and Service Tax, hosted by ICAI Pune Branch in Pune on Saturday. The conference saw an impressive gathering of over 450 chartered accountants aiming to enhance their knowledge and understanding of GST regulations.
Addressing the attendees, Sudhir Mungantiwar, Cabinet Minister for Forests, Cultural Affairs, and Fisheries in the Maharashtra Government, lauded the significant contribution of Maharashtra to the nation's GST collection, which accounts for nearly 20 percent. He emphasized that the state plays a vital role in driving India's economic growth, serving as the engine of the nation's prosperity.
"We are moving towards a five trillion economy, and chartered accountants play a vital role in achieving it. By taking the initiative to collect maximum GST, Chartered Accountants are fulfilling their responsibility to empower the Indian economy," said Sudhir Mungantiwar.
"The GST Act was implemented in July 2017 under the leadership of Prime Minister Narendra Modi as part of 'One Nation One Tax,' aiming to bring simplicity and ease to the tax system. Chartered Accountants have significantly contributed to the implementation and streamlining of this Act since its inception. Many reforms have been made in the last 50 meetings of the GST Council. After GST, the income of every state has increased, and the growth rate has risen to 14 percent. The economic condition of the states has improved, and a substantial amount of funds have been made available for infrastructure development," added Sudhir Mungantiwar.
More than 450 chartered accountants participated
He was addressing the CA's gathered for a two-day national conference on Goods and Service Tax organized by the GST & Indirect Taxes Committee of The Institute of Chartered Accountants of India (ICAI) and hosted by the ICAI Pune Branch. More than 450 chartered accountants participated in it. Vice-Chairman of GST & Indirect Taxes Committee CA Umesh Sharma, Central Council Member CA Chandrashekhar Chitale, Regional Council Member CA Ruta Chitale, CA Yashwant Kasar, Chairman of ICAI Pune branch CA Rajesh Agrawal, Vice-Chairperson CA Amruta Kulkarni, Secretary CA Ajinkya Randive, Committee members CA Pranav Apte, CA Mausami Shah, CA Sachin Miniyar, CA Kashinath Pathare, and many others were present on the occasion.
"The economy of the country is progressing through the combined efforts of taxpayers, chartered accountants, and the government. We have overtaken Britain and will soon fulfill our dream of becoming the third-largest economy. Prime Minister Narendra Modi has praised chartered accountants who contribute to the country and economic development, acknowledging them as the backbone of the Indian economy. Therefore, we should continue to contribute to making the tax system easier and simpler," he added.
CA Umesh Sharma guided on 'New reforms in GST law.' Experts in various subjects provided guidance during this two-day conference. CA Rajesh Agrawal gave the opening remarks. CA Chandrashekhar Chitale briefed about the conference. CA Mausami Shah compared the function, and CA Yashwant Kasar delivered the vote of thanks.