“Industry is ready for the landmark tax reform of GST, which is expected to bring significant gains for economic growth, employment and exports. CII is undertaking more than 100 workshops across the country to enable enterprises to comply with the new regulations,” said Mr Chandrajit Banerjee, Director General, Confederation of Indian Industry. He was referring to industry preparations for implementation of the Goods and Services Tax (GST), slated to be rolled out from July 1.
With just over 2 weeks expected for GST introduction, CII has taken up a range of initiatives to encourage industry to be proactive in managing GST compliance. CII has launched a series of around 100 two-day Training Programmes across India. The workshops are expected to reach out to about 5,000-plus enterprises.
CII has been granted Approved Training Partner (ATP) status to impart GST training by National Academy of Customs, Excise and Narcotics (NACEN) with Institute of Company Secretaries of India. Technical partners are GST Street and Tax Sutra.
Key issues covered in training programme include, among others:
- Introduction to GST and overview of the model GST law
- Registration Provisions; Time & Supply and Valuation of Goods & Services
- Input Tax Credit; Payment of Tax; Cross Utilization of CGST/SGST/IGST
- GST Returns and Matching of Credit; Refunds
- IT Enablement and ERP Solutions
- Transitional Provisions and GST- Impact Study
- Sectoral Analysis: Manufacturing/Services
To participate in the training program, interested persons may access http://www.cii.in/ProjectDetails.aspx?enc=eo18/j+aJMWXCXiMZZAdoy768zOhA84/139nnCPdVJQ=
Further, a helpline has been initiated where program participants can request for clarifications.
In addition, an awareness campaign has been launched to inform industry about the GST processes. CII has prepared Online Webinars as introduction to the new tax. These are available on the CII Knowledge Management website mycii.com or https://www.youtube.com/playlist?list=PLI83ACNBcDvm4GpoTKo25TC_-ufhcV07j.
“CII has been interacting with all stakeholders including Central Government, state governments, and industry on GST implementation. GST has been finalized after a collaborative and consultative approach and we look forward to its introduction,” added Mr Banerjee.
A transformative tax, GST is the most significant indirect tax reform introduced in the country since Independence.
17 June 2017