The Institute of Chartered Accountants of India organized a Workshop on Indirect Proposals of the Union Budget 2011-12 at its Headquarter in New Delhi on March 17,2011. The Workshop was addressed by Shri S. Dutt Majumder, Chairman, Central Board of Excise and Customs. Shri Y.G. Parande, Member, CBEC, Shri V. K. Garg, Joint Secretary (TRU), CBEC and Shri Roopam Kapoor, Officer on Special Duty, CBEC were also participated in the Workshop and interacted with the members and experts of the field of indirect taxes.
CA. G. Ramaswamy, President, ICAI welcomed all the dignitaries and pointed out that the New Point of Taxation Rules, 2011 have been a cause of concern amongst various services providers.
CA. Bhavna Doshi, Chairperson, Indirect Taxes Committee presented the core issues arising out of Budget 2011-12 including the issues in CENVAT provisions, Service Valuation Rules as also Point of Taxation Rules. The discussion was ably augmented by CA. Madhukar Hiregange, Vice-Chairman, Indirect Taxes Committee. CA. Jaydeep Narendra Shah, Vice-President, ICAI in his vote of thanks assured the officials that ICAI would continue to provide quality inputs to the Government, whenever called for.
The President, ICAI told the CBEC Officials that the ICAI would submit its Post-Budget Memorandum 2011 on Indirect Taxes containing the suggestions on all significant issues arising out of the Budget 2011-12 to the Finance Ministry shortly.
Shri S. Dutt Majumder acknowledged the active role played by the ICAI in the area of public finance and appreciated the contributions made by it in the area of taxation and accountancy.
A background material on the Certificate Course on Indirect Taxes was launched by Shri Majumder at the Workshop. The ICAI has introduced this new Certificate Course to impart training to its members in the area of indirect taxes. The course will ensure reasonable level of preparedness amongst the members in facing the challenges that may be posed by proposed GST. It will also help the members in understanding the finer nuances of GST in an efficient manner.