Seminar to apprise members regarding various features of GST organised by Fastener Manufacturers Association of India

Ludhiana, June 30, 2017: Seminar to apprise members regarding various features of GST was organized by Fastener Manufacturers Association of India at premises of MSME-DI – Ludhiana. Though it was the general opinion of all present was that GST is being imposed in haste. Industry is not against tax reforms & is willing to comply the regulations but the line of action should be clear. As lot of confusion was there & to remove most of the doubts FMAI organised seminar, where CA Amandeep Vats from Vast Linkers Pvt Ltd gave detailed presentation on GST, right from Migration of Existing Vat/ Excise dealers, Registration of New Units, Invoicing under GST era – the format of Invoices, various reforms & restructure required in current accounting system,Transition of Existing Credits in returns/ stocks, conditions to carry forward input tax credit,various sections such as 140(1),140(2),140(3),140(4)& 140(%) related to credit of inputs discussed in detail, process required to remove goods for Job work etc & GST payable against advance received etc were discussed in detail. All GST relevant points were discussed & there was a fruitful question answer session to remove personal doubts of members. Under the given circumstances, effort was made to educate members not to panic but to get ready to adopt changes. CA Amandeep Vats was handed the responsibility to help members with their problems at the time of implementation & Association is also in process to provide software to all the members at very affordable price.

Meeting was attended by a large number of members. S. Major Singh – Director MSME was the chief guest & Sh. D D Maheshwari – Chief Manager NSIC was Guest of honour. Besides, President Narinder Bhamra, Vice Presidents – Rupinder Oberoi, Atul Sethi, General Secretary – Kuldseep Singh, Jugal Kishore, B M Gupta, Narinder Khurana, Rachhpal Bhamra, S K Sareen, Kamaljeet Singh, Baljit Singh matharoo, Shivam Katyal, Raja Sohal attended the seminar.