GL Bajaj Institute of Management and Research, Greater Noida organized a special session on “Goods & Service Tax (GST)” under its “Expert Talk Series” on September 27, 2019, Friday at PGDM Auditorium, GLBIMR campus under the guidance of Dr. Ajay Kumar, Director, GLBIMR. The expert speaker for the session was Mr. Satyavir Singh, IRS (Retd.), Former Principal Commissioner, GST. The event started with lighting of ceremonial lamp and invocation of Goddess Saraswati. In the welcome address, Dr. Ajay Kumar, Director, GLBIMR welcomed the guest by presenting a sapling and told the audience the importance of GST in the nation. He said that the enhancement of GST especially in technology and e-commerce domain are reaching heights in India.
Expert Talk Series aimed to provide students an exposure for learning from the experiences of the renowned and established personalities. The event witnessed enriching and enlightening session by Mr. Satyavir Singh. He stressed upon the concept of Goods and Services Tax Act imposed on July 1, 2017. He spoke about the distribution of GST between Central and State Government and a step by step guide to taxpayers. He talked about the Reverse Charge Mechanism (RCM) system in GST where the receiver pays the tax on behalf of unregistered, smaller material and service suppliers. The receiver of the goods is eligible for Input Tax Credit, while the unregistered dealer is not. He also talked about the Goods and Services Tax Network (GSTN). It is a software developed by Infosys Technologies and the Information Technology Network that provides the computing resources to be maintained by the NIC. It is a non profit organization formed for creating a sophisticated network accessible to stakeholders, government and taxpayers to access information from a single portal. The portal is accessible to the tax authorities for tracking down every transaction; while taxpayers have the ability to connect for their tax returns. Finally, the expert concluded with the implementation of ITC in the GST rigorously defining its roles and responsibilities in the society. The students asked their queries on the topic and they thanked the expert for sharing his knowledge with them.
Vote of Thanks was presented by Ms. Arpana Kumari, Assistant Professor, GLBIMR and finally the event concluded with National Anthem.