Goods & Services Tax
The Cochin Chamber of Commerce and Industry conducted a Half-Day Session on GST – Upcoming Changes, Legislative, Legal and other Updates on 8th November 2019 at Hotel Park Central, Kaloor.
Mr. Thomas Sebastian, Deputy Secretary of the Chamber, delivered the Welcome Address and introduced the Speakers for the session, Mr. Kunal Wadhwa, Partner, Indirect Tax, PwC India, Bangalore, and Ms. Nisha Menon, Director, Indirect Tax, PwC India, Cochin.
The purpose of the session was to provide the participants with a brief update on the proposed changes under GST and also shed some light on other key amendments. The programme was attended by 70 participants from various organizations.
The first half of the session covered e-invoicing, its purpose, and implementation and key updates under the e-invoice format. Ms. Menon explained the major changes in the e-invoice scheme, clarifications to be provided and key points for the seller and buyer. She also explained the new return framework in detail.
The second half of the session started with the normal monthly return process and the key steps to be considered while filing the same. Mr. Wadhwa explained the restrictions on the availing of ITC and the recent legislative and judicial updates. The session also covered the evaluation of customer support services and marketing support services in the context of intermediary services under GST. Mr. Wadhwa threw some light on the tax exposure on the account of deemed supply under GST and the legacy dispute resolution scheme.
Before concluding the session Mementos were presented to Mr. Wadhwa and Ms. Menon.
Mr. Manu Varghese, Manager - Business Development of the Chamber proposed the Vote of Thanks.