Noida Management Association, ICSI and ICMAI organizes budget review program at Noida

Noida: Noida Management Association (NMA) along with Noida chapters of ICSI and ICMAI organized budget review discussion program at NMA House, Noida. The program was inaugurated by Shri Gopal Krishan Agarwal, National Spokesperson (Economic Affairs), BJP. He was welcomed by Mr. Surender Mohan, President – NMA, Mr. Durgesh Garg, Vice President - NMA, Mr. Sandeep Mittal, Secretary – NMA, Mr. Nandlal Thakur, Chairman – ICSI, Noida, Ms. Swati Chaturvedi, Chairperson – ICMAI, Noida, and several distinguished members of these associations.  The program was co-ordinated by Mr. Durgesh Garg, Vice-President – NMA.
 
Inaugurating the program, Mr. Agarwal said that the budget has taken care of all segments of economy. From farm to fork, from industry to consumers, from education to employment, from taxpayer to consumers. It is a clear roadmap to $5 trillion economy.

The discussion was focused on Union Budget 2020 presented by Finance Minister Mrs. Nirmala Sitharaman and how it can help take Indian economy to $5 trillion as envisioned by our PM Mr. Narendra Modi.
 
Mr. P. K. Singhal, Past Chairman, ICAI, Noida covered direct taxes in the budget. He said that the budget has provided various tax benefits to individual as well as corporate tax payers. The budget shows future road map of India.
 
Mr. Anil Sharma, a cost accountant and chairman, NIRC of ICAI covered indirect taxes (GST) and said,” In indirect taxes especially in GST not much changes have been noticed as it get changed in every GST council meeting.
There are some procedural changes and amendments in respective sections have been made to simplify the act and rules.
In Custom acts import duties on some of the items have been increased to help the domestic industry.
In new F/Y 2020-21 new returns form and e- invoicing will be introduced and we all are hope full that these new changes will made GST more user friendly"
 

Mr. Pankaj Jain, Founder and Mentor, IRE CFO services spoke on how the recent proposals in budget would enable $5 trillion economy target. He mentioned, “Budget 2020 shows the clear intent of the Govt. for working seriously towards boosting the economic development. It talks about Governance guided by INCLUSIVE GROWTH (SabkaSath, SabkaVikas, Sabka Vishwas) which is key factor. Also, the New Economy concept has been included which would be helpful in achieving the Mission of $ 5 trillion Economy by the year 2024-25"
 
The program was a success with large gathering of members attending from all these three associations.