|
Mr. Mukund Bakre conducted a four-hour workshop on the “Value Added Tax” for the BYST entrepreneurs. The training programme was conducted at the BYST premises only. Mr. Bakre started by explaining the important definition of Tax, kinds of taxes etc. he explained the background history of new tax regime to the entrepreneurs. He explained categories of tax rates and the commodities on which tax is levied under the different tax rates categories i.e. Tax Free Category, the category under which1% tax is levied, 4% tax category; and the products which come under 12.5% tax rate category. In the first half of the program he gave the detail description about Set Off, told about the people who are generally liable to pay VAT. He also explained about the terms under which entrepreneur has to pay tax. He also detailed about the format of the bill & composition scheme. And many more things he explained very satisfactorily to the entrepreneurs. In the second half, he explained registration process of tax & time period by which one is required to pay the tax. He also spoke about the category of people for whom the tax registration is compulsory & should get the registration done. He also made suggestions to following some disciplines, which are very important in paying tax. He encouraged the entrepreneurs to try & make unity to fight against corruption, which exists in the sales tax office. He also emphasized on maintaining the proper Purchase & Sales Register and explained its advantages to them. After the session entrepreneur discussed their queries with Mr. Bakre. |