Jalandhar, April 21, 2019: The PhD Chamber of Commerce and Industry in association with Konrad-Adenauer-Stiftung (KAS), Germany organized a Seminar on Recent Developments, Issues and Audit and Annual Return under GST in which Assistant Excise and Taxation Commissioner (AETC) Jalandhar DS Garcha was the chief guest.
In his address, Garcha appreciated the efforts of PHD Chamber for organizing the event and addressing the issues and concerns of the industry members pertaining to GST. He stated that bill-trading and claiming of input tax credits in cases of fictitious transactions was a serious fraud under GST laws. He further said GST compliance systems are robotic and is capable of reporting, tracking and reconciliation of transactions due to which it is going to become very difficult for the tax payers to get scot free for fraudulent transactions.
In his address Chairman, Punjab Taxation Committee, Punjab State Chapter, PHD Chamber Mr. Pawan Kumar highlighted on the various issues which still needs to be addressed and if not clarified could result in to uncalled litigation. While welcoming the participants, Mr. Ajay Mahajan, Convener - Jalandhar Zone, Punjab State Chapter, PHD Chamber said that they were organizing today’s seminar to provide tax payers practical expertise to better understand and analyse how to fill up the forms.
Former-Chairman, Northern India Regional Council (NIRC) of the Institute of Chartered Accountants of India (ICAI) CA Vishal Garg, EO PHD Chamber J S Makkar and others were also present on the occasion.