On 1 Feb. 2017,
our Hon. Finance Minister presented the Budget 2017-18 to the Nation.
As is the
tradition of our Club, this year too the Club had arranged Union Budget Analysis
Meet with the help of our Rtn. CA Shalin Divatia and PP Rajendra Ruia. The meeting was organized in association with
Bombay Industries Association, Christian Chamber of Commerce & Industry and
MIDC Marol Industries Association.
We had two
eminent expert speakers viz. CA Rajan Vora and CA Sunil Gabhawaala.
Rtn. CA Rajan
Vora is a Partner of Tax Litigation
Advisory Group, SRBC & Associates LLP (An affiliate of Ernst & Young).
He has over twenty years of experience in practice of Direct Tax Laws. A Gold
Medalist CA with first rank at all India level, Mr.Vora has been rated as one
of the leading tax advisors in India by International Tax Review and by the
Legal Media Group Guide.
CA Sunil
Gabhawalla is in practice with third rank at the All-India Level. Mr. Gabhawalla
practices in the entire field of taxation with a specialization in Indirect
Taxes. He is one of the leading consultants for Service Tax and VAT related
matters. Sunil has been actively involved in the policy formulation process of
GST and keenly follows the developments of this emerging law.
Mr Vora’s
presentation covered Rate of tax, Filing of the Returns, Capital Gains, Cash
Transactions, Presumptive Taxation & Tax Audit, Various rationalisation
measures – MAT and Indian Accounting Standards, Taxation of housing & real
estate, Procedural changes, International taxation and Transfer pricing.
CA Sunil Gabhawalla
informed the audience that indirect taxes were by and large left untouched by
the Finance Minister in view of the impending implementation of GST law. He
therefore chose to recap the provisions of proposed GST and the recent changes
in the law.
- Report by Rtn.Haituk Desai
