Industry Ready for GST: CII

Industry is ready for the landmark tax reform of GST, which is expected to bring significant gains for economic growth, employment and exports. CII is undertaking more than 100 workshops across the country to enable enterprises to comply with the new regulations, said Mr Chandrajit Banerjee, Director General, Confederation of Indian Industry. He was referring to industry preparations for implementation of the Goods and Services Tax (GST), slated to be rolled out from July 1.

With just over 2 weeks expected for GST introduction, CII has taken up a range of initiatives to encourage industry to be proactive in managing GST compliance. CII has launched a series of around 100 two-day Training Programmes across India. The workshops are expected to reach out to about 5,000-plus enterprises.

CII has been granted Approved Training Partner (ATP) status to impart GST training by National Academy of Customs, Excise and Narcotics (NACEN) with Institute of Company Secretaries of India. Technical partners are GST Street and Tax Sutra.

Key issues covered in training programme include, among others:

Introduction to GST and overview of the model GST law

Registration Provisions; Time & Supply and Valuation of Goods & Services

Input Tax Credit; Payment of Tax; Cross Utilization of CGST/SGST/IGST

GST Returns and Matching of Credit; Refunds

IT Enablement and ERP Solutions

Transitional Provisions and GST- Impact Study

Sectoral Analysis: Manufacturing/Services

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