Nagpur: The Goods and Services Tax Network (GSTN) on the occasion of its foundation day on Friday felicitated The Institute of Chartered Accountants of India (ICAI) in recognition of its contribution and support in development of GST ecosystem. It was presented by. Navin Kumar, former chairman, GSTN in the presence of Ajay Bhushan Pandey, Chairman, GSTN and Revenue Secretary, Central government and Krishnamurthy Subramanian, Chief Economic Advisor. CA Prafulla Chhajed, President, ICAI, CA. Atul Gupta, Vice-President, ICAI and CA Sushil K Goyal, Chairman, GST & Indirect Taxes Committee received the recognition on behalf of ICAI.
GSTN Foundation day function was organised at The Ashok Hotel, Delhi. The dignitaries discussed the working of GSTN along with the major focus areas including linking of E-way Bill with GST Invoices and its data mining, E-online invoicing and auto return utility, faster processing of refund under GST, increase in tax to GDP ratio from present 10.5 % to 16%, which is equivalent to the world GDP ratio and E-initiatives of the government for increasing its revenue, data mining etc.
The ICAI has been regularly providing its support to GSTN by providing suggestions on various GST forms and participating in the testing of various utility’s/ software’s. The representatives from ICAI have been regularly interacting with them, making presentation and providing suggestions for improvement of IT platform of GST ecosystem.
ICAI has been supporting the Central government as well as state governments in the historical taxation reform by providing its suggestions regularly, starting from Constitutional Amendment (GST) Bill, dissemination of information among all the stakeholders through technical publications, newsletters, E-learning, live webcasts, courses, programmes, conferences and workshops.