Organized by Department of Commerce, Faculty of Science and Humanities, SRM Institute of Science and Technology (formerly known as SRM University)
In Association with Hrudya Adconser Pvt Ltd
The Seminar was inaugurated by the Associate Dean of Faculty of Science and Humanities, SRM Institute of Science and Technology (formerly known as SRM University). Mr.Vivekananda student of Final year B.Com Welcomed the gathering and the Guests were introduced by Dr.R.Angayarkanni, Professor in Commerce. On an effort to impart knowledge about the GST(which was to be made official by 1st July 2017)to the students, Professional experts, Mr. V. Krishnamoorthy and Mr. Srivathson Ramesh from HrudyaaAdconserPvt Ltd, were invited to address the gathering. The session began with Mr. V.Krishnamoorthy, explaining what GST exactly is.
Goods and Services Tax (GST) is an indirect tax applicable throughout India which replaced multiple cascading taxes levied by the central and state governments. It was introduced as The Constitution (One Hundred and First Amendment) Act 2017, following the passage of Constitution 122nd Amendment Bill. The GST is governed by a GST Council and its Chairman is the Finance Minister of India. Under GST, goods and services are taxed at the following rates, 0%, 5%, 12% and 18%. There is a special rate of 0.25% on rough precious and semi-precious stones and 3% on gold. In addition, a cess of 15% or other rates on top of 28% GST applies to few items like aerated drinks, luxury cars, and tobacco products.
The second session was taken over by Mr. Srivathson Ramesh who went further into the topic, explaining its implications on various products. He briefed on the history of GST, which was first introduced in FRANCE in the year 1954. He presented a paper with suitable examples to create a better idea about the topic in the students.
An hour or so at the end was purely devoted to discussions and Question and Answer session, where both the speakers patiently and clearly answered all of them.
An investment in knowledge always pays the best interest. Says, Ben Franklin. The students of the university thanked the management for giving them such a great opportunity. The programme came to an end at 1.00 pm with a vote of thanks by Ms. Athira of Final Year ISM followed by the National Anthem being patriotically sung by all.
Student Organisers- Final Year B.Com
Date: June 28, 2017
Time: 10:00 AM to 12:00 PM
Venue: Dr. T. P. Ganesan Auditorium, SRM Institute of Science and Technology (formerly known as SRM University), Kattankulathur