Audit important component of taxation: Com STD

Capacity building program held on GST

JAMMU, FEBRUARY 19: Jammu and Kashmir State Taxes Department (STD) in collaboration with Institute of Chartered Accountants of India (ICAI) today organised a day long Capacity Building Programme on various provisions of Goods and Service Tax for State Tax Officers (STOs) at Excise and Taxation Complex here.

The programme was inaugurated by Commissioner, STD, PredimanKrishenBhat in presence of Additional Commissioner (Administration & Enforcement), Jammu, NamritaDogra and Additional Commissioner, (Administration & Enforcement), Kashmir, ShakeelMaqbool.

Speaking on the occasion, the Commissioner said that audit is very important component of taxation system and all the officers should be well versed with accounting principles and other accounting procedures. He remarked that our audit observations should be based on facts, so that they can’t be challenged.

Sharing his experience, the commissioner said that tax officers, who conducted audits, should be trained with the process and hoped that the workshop will clear all their doubts and make their understanding about this subject very clear.

The Commissioner highlighted that the session has been arranged to enhance subject knowledge of officers which will prove fruitful and sharpen their skills to learn new things.

In his address, NamritaDogra expressed gratitude to ICAI representatives and said that this programme not only enhances the productivity of tax officers of the department but also promotes significant partnership between the Chartered Accountant community for larger economic growth of the nation.

During the programme, resources persons from ICAI delivered interactive and informative lecture for STOs on various provisions of GST and its related aspects.

In the first session, ICAI’s resource person, CA Archana Jain delivered interactive lecture on Audits, types of tax Invoices, debit and credit notes and thoroughly covered all aspects of Audit with live examples. She stressed on cross checking of all the invoices for proper scrutiny and strict to the laws written in rule books.

In the second session, CA TarunArora covered Input Tax Credit (ITC) and explained all the components attached with ITC. He deliberated in detail on scrutiny and analysis of ITC under GST.

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