Comments
The Prime Minister Narendra Modi will launch the CA Institute's revised scheme of education and training for CA students on Saturday.
The new scheme, which will be launched at Modi's hands on CA Institute's Foundation Day, has been prepared keeping in mind the evolving role of chartered accountants in the new global economic landscape, Nilesh Vikamsey, President, ICAI told reporters here.
The revised course intends to promote innovation and bring about out of box thinking in the curriculum and education system of Chartered Accountancy course, Vikamsey added.
The previous time the CA course went in for major changes was about thirteen years back, Vikamsey said.
The CA Institute is revamping its course on the same day as the introduction of landmark tax reform of goods and services tax (GST) in the country.
Vikamsey said that CA Institute has been taking several steps to improve awareness of goods and services tax among traders, small businessman, manufacturers and general public. These include setting up of 200 GST Sahayata desks all across the country.
He also said that over 1,500 workshops have been held across the country between January 1 to May 31 this year to spread awareness about the country's biggest economic reform since independence.
Asked to comment on the impact of GST introduction on the economy, Vikamsey said that implementtion of this big tax reform would give a boost to GDP as tax collections are going to substantially go up. "Lot of trade on the parallel side will start coming into the mainstream", he said.
The GST introduction bodes very well for the country, he said.
Madhukar N Hiregange, Chairman, Indirect Taxes Committee, ICAI, said that GST introduction may have "little inflation" because of uncertainty, not because of the cost. This is because people are still not aware as to what are the benefits they could get on account of GST, he said. "If people take the benefits, inflation will not be there", he said.
Vikamsey said that he expects prices of most products (other than luxury products) to go down post GST implementation from July 1.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.