The ICFAI Law School, ICFAI Business School (IBS) and National Academy of Customs, Excise & Narcotics jointly organized a Two-day Seminar on “GST: Novate Contemplation” on 16th and 17thJuly 2016, at Hotel Taj Vivanta, Begumpet, Hyderabad.
Hon’ble Mr. Justice Goda Raghuram Former Judge High Court of Judicature at Hyderabad and Former President CESTAT, in his keynote address at the inaugural session, wished that the large gestation period of 5 years of GST in making will have fewer issues as GST is a beautiful melodious medley evolved out of compromises between various States. In application of GST, the complexities of internalization and paradigm shift from state sovereignty to exclusive concurrence though may take time to assimilate but the outcome would be civilizational excellence. Addressing the aspiring IRS professionals he requested them to maintain neutrality in future while adjudicating from federal and State benches to be constituted under GST.
Appreciating the timely attempt of ICFAI University in conducting the seminar Ms R Shakuntala, IRS Chief Commissioner, Customs, Central Excise & Service Tax,Hyderabad Zone, expressed that over a period of 35 years there have been lot of reforms on application of Tax laws especially service tax but GST is the more reformed legislative attempt. GST is ‘Tax Payer friendly’ and intends to bring in uniform, comprehensive tax legislation in India. As the present model is in public domain seeking opinions, objections and suggestions from various professionals working in the field she expected lot more suggestions from participants of this seminar.
The Guest of Honour for the Inaugural session leading Tax Attorney Mr. G.Shivadass Principal Partner, M/S Lakshmi Kumaran & Shridharan, Attorneys, expressed his apprehensions whether GST would lessen the volume of litigation being filed before the Tax Tribunals and courts over jurisdictional issues and find a solution in this regard.
Prof.( Dr) S.V. Seshaiah, Director, ICFAI Business School (IBS) in his presiding address said the two day Seminar aims to seek opinion and public debate from corporates, Tax and legal field in terms of issues pertaining to application and future implications of GST from economic, legal, political and Technical context. Prof AV Narsimha Rao Dean Co-ordination said that the seminar is a platform for analyzing the GST provisions and its future implications.
The seminar was well attended by Supreme Court and High Court Advocates, Tax Consultants, students and faculty of the ICFAI Law School, and ICFAI Business School. The event was sponsored by NCC Limited, EMAS and TAXMANN.
IFHE: The ICFAI Foundation for Higher Education (IFHE) is declared as a deemed to be University under section 3 of the UGC Act, 1956. It has three constituents namely; ICFAI Business School (IBS), IcfaiTech (Faculty of Science & Technology) and the ICFAI Law School (Faculty of Law). IFHE offers MBA, BBA, B.Tech and BBA-LLB (Hons.)/BA-LLB (Hons.) campus-based full-time programs. Recently NAAC has accredited the University with ‘A’ grade with an institutional score of 3.43 out of 4.
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