Seminar on Goods & Service Tax organized at Guru Nanak Dev University

Amritsar, Sept. 22 (Punjab Post Bureau) – A seminar on Goods and Service Tax was organized in the Conference Hall, Guru Nanak Bhawan of Guru Nanak Dev University. This seminar was organized in collaboration with Office of Deputy Excise and Taxation Commissioner, Amritsar.  On this occasion, heads of various Teaching/ Non-teaching Departments and Administraive Staff of the University were present.

                 Professor Hardeep Singh, Coordinator presided over the seminar while Mr. Vinamar Gupta, CA, delivered the talk and interacted with students, teachers and officials of the University on various aspects of Goods & Service Tax. Mr. Vinamar Gupta said that Goods & Service Tax (GST) is a new tax regime introduced by the Govt. of India w.e.f. July 01, 2017. He said that the introduction of this tax regime has vastly impacted the social, economic and technical environment of business in India. There is a dire need to understand the working of this tax structure by students, practitioner and the faculty members, he added.

He said that GST is the biggest indirect tax reform providing a uniform and simplified way of indirect taxation in India. This means goods and services will be subject to a uniform tax rate. GST is applicable throughout the country, replacing a number of other indirect taxes like VAT, service tax, etc.

It is ultimately the common man who is affected by the implementation of any new tax. The common man has to understand and get ready for the implications. The common man includes not only the final consumer of goods but all the small traders and service providers who will be affected by the GST. Once the concept is cleared, tax implementation will be easier and simple. Keeping in mind the citizens’ ignorance or misplaced knowledge about GST, it is our resposibilty to educate the common citizens.