Tuesday, 7 February 2017

Union Budget Analysis @ Rotary

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