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TAIT conducts Interactive Session on Corporate Governance

The GST Council that recently met in New Delhi has reached a consensus on the rollout of GST across the country from 1st July, 2017. This was announced by Shri Arun Jaitley, Hon’ble Minister of Finance, Government of India. According to the agreement reached between the Centre and the States at the 9th meeting of the GST Council, states will have powers to assess and administer 90 per cent of the tax-payers under Rs.1.5-crore annual turnover, while the remaining would be controlled by the Centre. For tax-payers with more than Rs 1.5-crore turnover, states and the Centre will control and administer them in 50:50 ratio.  Work on designing the systems and processes for the GST Network (GSTN) are at an advanced stage. 
"The recent significant developments in the country's legal/regulatory business environment mean that SME business owners and managers will be held up to higher standards of scrutiny than ever before. Transparency in operations and corporate governance best practices is not just a necessity but is seen as tools leveraged by enlightened corporate managements. This makes it all the more necessary for IT business partners to “walk the talk” and adopt a structured approach towards day-to-day compliance issues. In the long term, this would not only boost employee’s morale, but also lay the foundation for sustained innovation and revenue growth, a strong brand  image and a healthy bottom line," stated  Rushabh Shah, President, TAIT. 
Accordingly, TAIT organized a “Knowledge Series” Workshop on the theme "Effective Administration of Statutory Compliances". The workshop was conducted by Ramesh Soni, Principal Consultant, RLS Consulting, who emphasized that compliance to statutes is in the best interest of cordial employer-employee relationships, and would, in turn, lead to the sustained growth of the organization.