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The role of chartered accountants is crucial in the rollout of GST and in overcoming the teething troubles and hurdles, according to Visakhapatnam Steel Plant Chairman and Managing Director P Madhusudan.
He was speaking as the chief guest at the two-day sub-regional conference of the Institute of Chartered Accountants of India (ICAI) — christened Spoorthi — which began here on Friday.
GuidanceHe said there were many challenges associated with GST rollout and the CAs would have to guide their clients.
They should make use of the latest technical advances to enhance their efficiency. The new curriculum introduced by the institute would also help CAs hone their skills, he added.
PM commentsM Devaraja Reddy, a former president of the institute and member of the central council, said Prime Minister Narendra Modi had recently passed certain critical comments about the profession, but “we should take them in the right spirit and try to correct ourselves. The Prime Minister holds our profession in high regard and he meant well.”
CS Srinivas, chairman of the Southern Indian Regional Council of the Institute, and several other CAs spoke. B Venkata Rao, chairman of the Visakhapatnam branch, presided.
Later, chartered accountant Ashok Batra presented a paper on input tax credit under GST.
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