Page 13 - Plastics News December 2016

Aipma at work 10

INDIA 2017

International Plastics Exhibition & Conference

Where the future of plastic is...
JAN 2017
19 20 21 22 23 MUMBAI. INDIA

Mr. Hiten Bheda, AIPMA, VP- West Mr. Manish Dedhia, AIPMA addressed all the guest and
continued further and introduced participants at this seminar with the formal Vote of thanks
speakers to the forum in the thanking all relevant people from the industry and the
second half of the seminar when seminar fraternity as well.
session on GST started.
Managing Committee presenting momentos as
Speaker CA Shailesh Haribhakti token of appreciation to speakers.
from baker Tilly DHC shared his
view on why GST is seen as India’s most comprehensive tax
reform and why it will change face
of our country. Shared perspective
on new tax reform- Model GST law
and application of GST worldwide.
The progress so far with respect to
new law has gone really far step by
step and following consensus has
been reached:

• 4-tier rate structure- 5%, 12%, 18% and 28% (peak
rate- to apply to luxury and demerit goods)

• 50% of products in the CPI basket, including food
grains, has been kept at “zero-rated”

• Items of mass consumption will be taxed under 5%
tax rate

• Tobacco, Luxury products and sin items subjected to
Cess for compensating the States for 5 years

He also emphasized on Roadmap Ahead and GST will roll
out by April 2017. He also added that IT would be as
backbone in implementing GST.

Another speaker CA Rajiv Luthia from
R J Luthia & Associate on GST presented
his views on Time of Supply of Goods
and steps from the time goods are
manufactured till it gets supplied and
received by recipients, Place of Supply
where goods and service are supplied
within state and interstate, Valuation, Branch Transfer
and Job Work.

Open Forum

The forum was open for Q & A round which saw some
intellectually industry specific questions raised by ten
audience which were aptly answered by speakers.

Vote of thanks and presenting memento to speakers

13 • December 2016 • Plastics News