Kumaraguru College of Technology, in association with Paul & Aravind Charted Accountants on Friday conducted a management development programme to highlight the importance of GST.

Titled ‘Preparing Your Business for Goods and Service Tax’, the aim of the programme was to enable the business houses to swiftly adapt to the GST regime and help them in understanding the legal and practical aspects of switching over to the new GST regime. The new regime would come into force from July 1, 2017.

Inaugurating the programme, N. Ramkumar, Deputy Commissioner of Excise and Customs, said more than 140 countries have so far successfully implemented GST. “The integrated GST model implemented by our country is a unique model,” he added.

He also explained how the revenues of the State Government – which were the greatest producer of goods and services – were going to be affected as GST was a destination model which would benefit the consumer.

Charted Accountants Paul Thangam and P. Aravind Thangam, in their address, focused on the latest development in GST and covered topics such as Basics of GST, Concepts of ‘Supply’, Input Tax Credit Mechanism, Accounts, Records and Refunds.

More than 150 participants from 42 companies participated in the programme.

Professor Swaminathan welcomed the gathering, while Dr. V.R. Nedunchezhian, Professor, KCT Business School and Charted Accountant S. Raveendar, delivered the felicitation and vote of thanks respectively.