Published On : Thu, Jan 19th, 2017

MVAT Audit casts great responsibility on Chartered Accountants: CA Kalyani


Nagpur:
Nagpur Branch of Western India CA Students Association [WICASA] of the Institute of Chartered Accountants, recently organized a seminar on the provisions of the Audit under the MVAT Act. WICASA seminar was organized for the benefit of CA students in view of fast approaching deadline of MVAT Audit.

CA Kirit N Kalyani, Chairman WICASA of Nagpur Branch of ICAI, in his introductory remarks, welcomed the dignitaries and the large number of CA students to the successful event organized by Team WICASA 2016. He recalled the year-long WICASA events briefly and informed the speakers of the seminar, being CA Minhaj Khan, CA Pankaj Kher and CA Kunal Budhraja, that WICASA 2016, duly served the students fraternity with the tag line, Keep Yourself Committed (KYC).

He appealed to the 150-plus students to applaud themselves for the reason being showcasing sincerety towards their career oriented approach. He welcomed the speakers and thanked them for sparing their valuable time to share their knowledge with the students. He also updated the students with the upcoming WICASA activities and appealed them to participate in large numbers. He shared his one and a half decade long experience and informed the future Chartered Accountants, that even though audit task seems remunerative, it casts high responsibility on CAs to effectively carry the task and help the Maharashtra Government to get due amount of tax in the treasury. Kalyani extended his best wishes for the upcoming results, academic and personal lives of student friends.

CA. Minhaj Khan, keynote speaker, gave due momentum to the seminar by throwing light of his rich experience on the topic. He shared many practical cases pertaining to the area of practice in the field. He congratulated and applauded the efforts of team WICASA for ensuring due success to the seminar.

The speakers for the seminar took great efforts to give a leading edge to students in the field. CA Kunal Budhraja, very effectively shared the knowledge relating to VAT Audit workings and provisions concerning filling and filing of MVAT Audit report. He even shared the logic behind various provisions for making the subject easy for students. He used effective powerpoint presentation to explain procedure to fill the Audit report i.e. Form 704 under MVAT Act .
CA Pankaj Kher was able to get the students involved in effective interaction with him. The Input Tax Credit alias Set-off rules and restrictions for its availing, were discussed in detail. He elaborated on the provisions with due discussion of practical examples concerning the same. Students responded and raised relevant queries to get their knowledge regarding the topic duly updated.

WICASA Joint Editor, Suraj Madan along with Mayuri Sugandh, coordinated the seminar. Yash Budhwani, Joint Secretary, WICASA presented the formal vote of thanks. Prominently present on the occasion were more than 150 CA students.