The Bengal Chamber of Commerce and Industry organized a “Seminar on Direct & Indirect Taxes, Theme: 3D View of Direct & Indirect Taxes Changes vide Finance Act 2023 and Burning Issues” on 21st April, 2023 in Hybrid Mode, on Zoom and in the Williamson Magor Hall, The Bengal Chamber of Commerce and Industry, focusing on the detailed analysis and discussion on the Finance Act 2023.

Welcome Address was given by Mr. Vivek Jalan, Chairperson, Fiscal Affairs & Taxation Committee, The Bengal Chamber of Commerce and Industry & Partner, Tax Connect Advisory Services LLP.

Mr. Kamlesh Chandra Varshney, Joint Secretary (TPL−I), Central Board of Direct Taxes, delivered the keynote address on Direct Taxes perspectives and deliberated on key changes in Direct Taxes vide FA 2023, burning issues and expectations of CBDT from trade & industry.

In the Technical Sessions, Mr. Vivek Jalan, Chairperson, Fiscal Affairs & Taxation Committee, The Bengal Chamber of Commerce and Industry & Partner, Tax Connect Advisory Services LLP deliberated on impact of FA 2023 for trade & industry in Direct Taxes, critical issues for industry in Direct Taxes for FY 2023−24, changing landscape in Trusts & TDS matters and other changes and burning issues vide Finance Act 2023. Mr. Dharmarajan Ashok, Executive Vice President & Head of Corporate Taxation, ITC Limited, deliberated on industry’s perspectives on the impact of FA 2023 in Direct Taxes, what wishes of Industry has been granted and what has not been granted in FA 2023 and issues to put up or pending before the CBDT.

In the Indirect Tax Session, Ms. V Rama Mathew, Member −Tax Policy, Central Board of Indirect Taxes and Customs, delivered the Keynote Address on Indirect Taxes perspectives and deliberated on key changes in Indirect Taxes vide FA 2023, expectations of GST Council from trade & industry during conduct of Audits & Assessments, issues in GST & Customs and expectations of CBIC from trade & industry.

Special Guest of the Session, Mr. Khalid Aizaz Anwar, IAS, Commissioner, Commercial Taxes, Government of West Bengal deliberated on WB SOD Scheme. It was an interactive session with the participants and pending issues before SGST were discussed and various queries of the participants were clarified.

Representatives of SGST Department in West Bengal, Smt. Nabanita Pal, Special Commissioner of Revenue, Government of West Bengal, Sri. Subir Kumar Ghosh, OSD & Ex−officio Joint Commissioner of Revenue, Government of West Bengal and Sri. Kaushik Chakrabarty, Joint Commissioner of Revenue, Government of West Bengal deliberated on key changes in State Taxes and new SOD & Other Schemes and expectations of SGST Department in West Bengal from trade & industry in West Bengal.

Impact of FA 2023 for Trade & Industry in Indirect Taxes, how to prepare for GST Audits/Assessments and procedures and other burning Issues in Indirect Taxes were deliberated by Mr. P K Saha, Mentor, Fiscal Affairs & Taxation Committee, The Bengal Chamber of Commerce and Industry & Partner − Tax & Regulatory Services, Price Waterhouse & Co. LLP.

Seminar on Direct and Indirect Taxes was attended by more than 100 participants in the Chamber premises. Out station participants attended the programme via Zoom.