Mandsaur (Madhya Pradesh): A seminar on recent developments in Income Tax laws and new provisions of GST Act was held in which, former president (Indore Branch) and chartered accountant Pankaj Shah was the main speaker.
In his address, Shah informed about the main provisions of Income Tax law. He said that the central government and Institute of Chartered Accountants of India have been trying to ensure that balance sheet of all types of taxpayers should be the same.
Efforts should be made to present the balance sheet of taxpayers in the same format as proposed by the Institute so that uniformity can be brought into the financial statements. It is pertinent to mention here that the members may acquire contemporary knowledge and skills relevant to their professional duties simultaneously complying to the mandatory structure of tax audit.
Akshaya Baheti spoke at length on new provisions of the GST Act and its implication on GST payers. Presiding over the seminar, Rajesh Madwariya said that several new provisions keep coming in various tax laws and members should be kept updated. The event was conducted by Virendra Jain while Nayan Jain proposed a vote of thanks.