Page 19 - Plastics News February 2017

Aipma at work

Seminar on Budget Impact Analysis

A Seminar to understand the Financial on Budget Impact plans and many more to make our country Happy Country.
Analysis Was ere held on 8th February, 2017 at Hotel
Tunga International, Mumbai. The Seminar started at Another speakers CA Hiral Raja and CA Samarth Gokani
3.00 pm welcoming distinguish speakers and delegates presented Indirect tax which was focusing on GST and as
from Industry. Mr. Harshad Desai, Chairman – Seminar they added there are not much amendments taken place
in this area except with the focus in making One Nation
& Conference AIPMA along One Tax.
with other office bearers
welcomed participants, AIPMA He shared his view on why GST is seen as India’s most
Office Bearers and Managing comprehensive tax reform and why it will change face of
Committee. They proceeded our country. Shared perspective on new tax reform- Model
further to light the lamp and GST law and application of GST worldwide. The progress
inaugurated the Seminar. so far with respect to new law has gone really far step by
step and following consensus has been reached:
Over 55-60 participants
attended, including the • 4-tier rate structure- 5%, 12%, 18% and 28%
Managing Committee Members (peak rate- to apply to luxury and demerit goods)
and the Office Bearers of AIPMA. The Seminar kicked off
with the master of ceremony Mr. Harshad Desai introducing • 50% of products in the CPI basket, including food
and calling upon the speakers CA. Mehul Shah, CA. Hiral grains, has been kept at “zero-rated”
Raja, CA. Samarth Gokani on the dais. Mr. Kishore Sampat
further welcomed all the guest by giving WELCOME • Items of mass consumption will be taxed under 5%
ADDRESS. tax rate

The First speaker were introduced by Mr. Harshad Desai • Tobacco, Luxury products and sin items subjected to
and then proceeded further with his presentation on Cess for compensating the States for 5 years
“Direct Tax Amendments”.
He also emphasized on
He presented many elements from 2017 Finance bill Pluses Roadmap Ahead and
and Expectation gaps, budget at glance, Income tax rates, GST will roll out may
what is the imapct of amendment in slabs and amendments be by third quarter
appicable to corporate and generally. if everything goes
as planned. He also
He also mentioned how budget use to take place in past added that IT would
and what are the changes be as backbone in
have been implemented implementing GST.
currently in presenting
budget. He added Open Forum
that our budget never
shown enough courage The forum was open for Q & A round which saw some
to give much freebies, intellectually industry specific questions raised by
no increase in limit of audience which were aptly answered by speakers.
taxation, no vindictive
approach on amendments Vote of thanks and presenting memento to speakers
except very very few,
multiple laws and not Vote of thanks was then given by Mr. Hiten Bheda from
enough developmental AIPMA thanking all relevant people from the industry and
the seminar fraternity as well.

Our Managing Committee giving memento as token of
appreciation to speakers.

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