CA’s are the backbone of the Indian Economy and act as Bridge between Taxpayers and Government, Said CA. Suresh Prabhu, Member of Parliament, Rajya Sabha, during his maiden courtesy visit to Nagpur Branch of ICAI. India’s Sherpa to the G7 and G20, Suresh Prabhu discussed briefly Budget Provisions. Hon’ MP pointed out that the Government mission has been more of Governance and less of Government. The Former Minister of Railways, Minister of Commerce & Industry and Civil Aviation, Suresh Prabhu said that the potential of CA’s duly recognised in ensuring financial discipline in Assessees would give more strength to status of CA’s as partners in Nation Building.
CA Saket Bagdia, Chairman Nagpur Branch, Welcomed CA. Suresh Prabhu on his first visit to Nagpur Branch & said that CA’s are excelling in all fields and elaborated remarkable work done by chartered accountants in other fields like politics’, police department, bureaucracy, etc. Chairman apprised him about the problems faced by the assessee in GST implementation wherein it was requested to incorporate provisions allowing Dealers to correct the mistakes in returns filed, which otherwise would create litigations.
Team Nagpur ICAI submitted a memorandum to Hon’ble Former Minister as regards the continuation of GST Audit to be done by Chartered Accountants and explained the reasons supporting it. He further submitted detailed recommendations on Post Budget Memorandum as regards provisions related to Direct Taxes & Indirect Taxes before the Hon’ble Member of Parliament.
Issues related to increased compliance burden in TDS / TCS provisions and a representation for consideration of provisions in Income Tax Act as regards taxation u/s 43(CA) and u/s 56 for the difference in Ready Reckoner Rates versus Sale Deed Value was also discussed. CA Suresh Prabhu explained Govt. Stand and was hopeful that all tax problems of trade & industry will be solved in due time.
CA Abhijit Kelkar, RCM, said that it is privilege for Nagpur Branch that CA Suresh Prabhu himself visited Nagpur Branch and showed the humbleness and groundedness of Member of Parliament towards his fraternity. CA Abhijit Kelkar said, CA’s can prove to be an asset for Government of India if their services are utilised in Government sectors.
CA Julfesh Shah, Past Vice Chairman WIRC coordinated the proceedings and appreciated the initiatives taken by Hon’ble Former Union Minister.
Other members present on the occasion were CA Kirit Kalyani, Imm. Past Chairman, CA. Suren Duragkar, Past Chairman, CA. Jiten Saglani, Vice Chairman, CA Sanjay M. Agrawal, Secretary, CA. Harish Rangwani, Managing Committee Member, CA. O.S. Bagdia, CA. Umang Agrawal, CA. Sandeep Jotwani, CA. Ashwin Agrawal, CA. Aashish Mukim etc.