Model Co-op Bank: Co-op’s bid to understand GST

Cooperatives across the country are trying to educate their members about the implications of Goods & Service Tax introduced last week by the govt. To begin with, Mumbai based Model Co-operative Bank in association with Christian Chamber of Commerce & Industry and Dimensions organized a Seminar on GST at Xavier Institute of Engineering-Mahim in Mumbai last week.

The aim of the seminar was to educate people about GST, the changes it brings to the present taxation structure and its impact on us. The seminar was attended by around 300 entrepreneurs.

The gathering was addressed by two eminent speakers – G. V. Bilolikar Jt Commissioner Sales Tax and Dr. David Alvares Deputy Commissioner. The seminar was chaired by Albert W. D’Souza Chairman of Model Co-op. Bank  who was joined on the dais by Anthony Sequeira, Chairman of Christian Chamber of Commerce & Industry and Rev. Fr. Francis De Melo Director of Xavier Institute of Engineering, Mahim.

The welcome address was given by Albert W. D’Souza followed by Rev. Fr. Francis De Melo who spoke on why such events are required.

Getting down to the topic of the day G. V. Bilolikar introduced the subject Goods & Services Tax (GST) giving a broad overview of the subject viz. its benefits and impact on various sectors and the common people.

Dr. David Alvares with an informative power point presentation covered GST in detail. He discussed topics such as GST as a game changer, invoicing under GST, returns filing and timelines for the same, compliance rating on web portal, reverse charge mechanism, GST tax rates, composite tax etc.

The presentations were followed by a question and answer session. Since the people in the audience hailed from different entrepreneurial backgrounds , a wide range of questions had to be fielded by G. V. Bilolikar and Dr. David Alvares.

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