The National Fiscal Affairs & Taxation Committee of The Bengal Chamber of Commerce and Industry organized a Seminar on GST & Income Tax - Risks & Rewards for Trade & Industry FY 2024-25 on 25th April, 2024 at Williamson Magor Hall, The Bengal Chamber of Commerce and Industry.

The Seminar featured highly interactive sessions with in-depth analysis by experts on GST and Income Tax and provided an insight into the various Issues and its impact on Trade and Industry for the Financial Year 2024-25.

Welcome address was deliberated by Mr. Pulak Saha, Mentor, National Fiscal Affairs & Taxation Committee, The Bengal Chamber of Commerce and Industry.

The 1st half of the Seminar covered the issues related to GST, where Mr. D. P. Karnam, IAS, Commissioner, Commercial Taxes, Government of West Bengal and Sri Manoj Kedia, IRS, Principal Commissioner, Kolkata North CGST & CX Commissionerate, Central Board of Indirect Taxes & Customs joined as Guest of Honour and deliberated on Government’s perspectives on the issues related to GST. 

Technical Session I and II were addressed by Mr. Vivek Jalan, Chairperson, National Fiscal Affairs & Taxation Committee, The Bengal Chamber of Commerce and Industry & Partner, Tax Connect Advisory Services LLP and Mr Rajarshi Dasgupta, Executive Director & Head of Indirect Taxes, AQUILAW.

Mr. Vivek Agarwal, Advocate & National Executive Member, AIFTP addressed the audience on behalf of AIFTP.

The 2nd half of the Seminar focused on the issues related to Income Tax which was addressed by Justice Shripathi Ravindra Bhat, Former Judge of the Supreme Court of India and Justice Md. Nizamuddin, Former Judge of the Calcutta High Court, Mr. Giridhar Dhelia, Advocate, Calcutta High Court and Tax Litigation Consultant and Mr. Srouta Gopal Mukherji, Senior Deputy General Manager- Direct and Indirect Taxation, Exide Industries Ltd.

GST session covered the following topics:

• GST Do's & Don't for FY 24-25 : Departmental Perspectives
• GST @ FY 2024-25: Major foreseen critical issues in light of various Trade & Industry Representation : Departmental Perspectives
• Handling GST Litigations in FY 2024-25 - Assessments, Audits, Investigations & More
• 3 major GST issues in 2024, GST Planning and mitigating GST Risks

Income Tax session covered following topics:

• Income Tax TDS@ FY 2024-25: Major foreseen critical issues in light of various Trade & Industry Representation - Departmental Perspective
• Analysis of Critical Issues in Income Tax TDS/TCS issues under 194Q, 206C(1H), 206AA, 206CC, 206AB, 206CCA, 194H, 194I, 194C, etc 
• Changes in ITRs for AY 24-25 : An In depth Analysis
• Direct Taxes: Industry Issues and representation before CBDT

Both the Sessions were closed with Q/A Session with the audience.  The Seminar was attended by more than 120 participants in the Chamber premises. Out station participants attended the programme via Zoom.