The Department of Commerce & Management conducted a workshop for TY B.Com Income Tax students on 3rd October 2023 on the Practical Aspects of Goods and Services Tax (GST). The Resource Person for the workshop was CA Sonam Daivajna, Director, SDS Accosphere Advisors Private Limited, an MoU partner of the College. The aim of the workshop was to provide students with valuable insights into GST, its implications, and how it relates to income tax matters.
CA Sonam delivered a comprehensive overview of GST, covering its principles, structure, and the distinctions between SGST, CGST, and IGST. She stressed the significance of GST in the Indian taxation landscape and explained the process of GST registration and associated compliance requirements. Students gained insights into the GST return filing system, tax payment procedures, and the penalties for non-compliance. CA Sonam also clarified the concept of Input Tax Credit (ITC), its eligibility criteria, and the proper utilization of ITC, highlighting how it can significantly affect Income Tax calculations for businesses. She also ensured that students were well-informed about recent amendments and changes in the GST law, keeping them up-to-date with the latest regulations and compliance requirements.
The workshop fostered an interactive learning environment that encouraged students to ask questions and seek clarification on complex GST-related topics. The program was effectively compered by Ms. Shreeyash V. Sinai Dalal, and Mr. Sahil Naik proposed the Vote of Thanks. The faculty in-charge for the session were Assistant Professors Ainsley Bernard and Akshada Gaonkar. 52 students attended the workshop.
