Mangaluru: The Post Graduate Department of Business Administration at AIMIT, Beeri, St. Aloysius College (Autonomous) had organised a one-day symposium on “GST: Trickling through the Transition” on September 21 at the Arthur Shenoi Auditorium.
With the press of a button at midnight in Parliament’s Central Hall, India switched to GST, the single biggest tax reform undertaken by the country in 70 years of independence. The Goods and Service Tax is an indirect taxation wherein most of the existing taxes will be merged into a single taxation system. GST is purported to bring in the “one nation one tax” system.
The inaugural commenced with the lighting of a lamp by the dignitaries. Dr. Rowena Wright, the Dean welcomed and introduced the chief resource person Prof. Dr. Victor Louis Anthuvan.
Rev. Fr. Denzil Lobo SJ, the Director, AIMIT gave a brief introduction on the operational lacunae in the area of GST implementation. He related the past and the present economic scenario of the country in the area of taxation.
Prof. Dr. Victor Louis Anthuvan, Professor of Finance, Chairperson, PhD Programme, Loyola Institute of Business Administration, Chennai, graced the occasion as the Chief Guest. In his key address to the students, Dr. Anuthuvan in his inimitable style and through his powerful intellect took the gathering all the way down the ages detailing on Indian culture and reminding the audience of what the countrymen stand for. He exhorted the future managers to replace, rejuvenate and relive the glory of India which it had more than 2500 years ago and which was gradually looted and it slowly overcame only some four hundred years ago. He also maintained that the present implementation of GST had the potential to spearhead the progress of the Indian economy. An increase in taxes would give the government the much needed inflow of capital for developmental projects, he maintained. By 2060, India would gear up to be the richest country if it consistently meets the growth rate of 8 percent, he commented.
The second session was held by a vibrant charted accountant Kiran Vasanth who addressed the gathering on the topic, “GST and the Common man.”
Dr. Beena Dais, Faculty Coordinator and Anup Acharya, Management Club Secretary were present on the occasion. The symposium was truly a day of meaningful learning and discussion for students at AIMIT.
