GST Academy to launch GST awareness drive for corporates
Into training of corporate professionals on direct & indirect taxes, the GST Academy has joined hands with Asian Community News (ACN) Network to launch the drive.
NEW DELHI/GURUGRAM: GST Academy LLP, an associate of Asian Community News (ACN) Network, has announced to launch Goods & Services Tax (GST) awareness drive for the corporate entities – especially the SMEs and start-ups from East Asian countries like Japan, South Korea, China, and others.
For this, the academy plans to organize free-of-cost Workshops for the professionals from these companies across India to address their functional challenges & compliance related queries.
Authority on the subject, the academy would also offer on-the-spot solutions under the given framework of the indirect tax regime during these workshops.
The subjects to be covered in the workshop would include the introduction of GST to its registration, Levy of Tax/Time of supply, Valuation Rules, Invoicing under GST, Reverse Charge, Composition Scheme, Input Tax Credit, E-way Bills/Returns, Offences /Procedures & penalties, Transitional Provisions, and Crises Management.
Led by Mohit Malik, a noted corporate & taxation lawyer with over three decades of experience, GST Academy LLP is a consortium of Chartered Accountants, Company Secretaries, Corporate Lawyers & Professionals with established experience in multiple industries.
The academy has already organized such workshops for the professionals of Japanese. Korean and other nation’s companies such as Toyota Tsusho India, DY Auto India, V-Access India, TRW Sun Steering Wheels, TSG Automobile, Sandhar Technologies, Pasco Automobiles, Bird Automotive, Select Holiday Resorts, Rasandik Engineering Industries India, Conscient Infrastructure, FCC clutch India private limited, Vipul Ltd and PVR Ltd.
“The accounting workforce across India should be prepared for functional as well as technological hurdles under GST. Functional challenges range from understanding transitional provisions to redesigning supply chain strategy, forming new business policies and framework, studying the impact on cash-flow and profitability, and addressing sector-specific issues,” said Mohit Malik, Founder, GST Academy LLP.
For the first-time, accounting workforce also faces technological challenges, since the government has used technology in an unprecedented manner to facilitate taxation of the country, said Malik adding, “That’s why we have carefully designed a comprehensive course to provide functional knowledge along with functional training on GST that ensures end-to-end GST Readiness.”
WHY GST AWARENESS DRIVE FOR EAST ASIAN COUNTRIES?
The GST Awareness drive initiative has come at the instance of the ACN Network that already caters to the audience from Japanese, Korean and other East Asian countries and their business community operating in India.
“Regular interactions with the business leaders and representatives of various trade associations like Japan Chamber of Commerce & Industry (JCCII), ASSOCHAM’s India Japan Business Promotion Council, Korea Trade-Investment Promotion Agency (KOTRA) India, Korea International Trade Association (KITA), Korean Chamber of Commerce and Industry (KOCHAM), Korean Small and Medium Enterprises Association (KOSMA), Korean SMEs and Startups (KOSME), and others have revealed that India is considered to be a tough terrain to do business, and ease of doing business index is only starting to get better for the companies coming to India from outside,” said Sanjeev K Ahuja, Managing Editor, ACN Network.
And a large number of companies especially from East Asian countries like Japan, Korea, China, and others are planning to make India their next home and set up business here.
“And the Indian government was doing its bit to scale up the ease of doing business but factors like geographical situation, infrastructure, red-tapism, corruption, and complicated and multiple (center and state) government regulations lay hurdles for the foreign companies which are planning to enter India. We want more such companies to come to India, and that’s why GST Academy LLP has come forward to help the existing Asian companies to make their functioning smoother in the field of tax regulations at least. This will spread the good word for India in their fraternity,” said Mohit Malik.
Those interested to participate or have workshops organised at their premises can write directly to editor@asiancommunitynews.com
