ICAI to train 15 lakh traders in GST Basics

Hyderabad: The Institute of Cost Accountants of India is to train some 15 lakh traders across the country in next one year in GST Basics, CMA Manas K R Thakur, National President has said.

Speaking to mediaperons here today, Thakur said there were some 22 lakh indirect tax assesses in the  country now and once GST is implemented, the number will increase up to 70 lakh. “The government wants us to train traders and new assessees in familiarizing them with filling in forms and so on. So far, we have trained 400 people. We are creating a pool of trainers, who would train others on the fundamental aspects of the Goods and Services Tax (GST), expected to come into force in the near future, Thakur said.

“Union Ministry of Corporate Affairs has appointed a task force to develop methods for ease of doing business in India. Currently in the list of 194 nations, India stands at 130.  It is government’s endeavour to see that our rank reaches within the 50 limit. ICAI is the member in this task force”, Thakur informed. Ministry of Railways has appointed ICAI to do activity based cost accounting. This will enable Railways Account Process better, he informed.

Dr PVS Jagan Mohan Rao, Central Council Member and Dr R. Chandra Sekhar, Secretary and Chairman — Coaching Administration were also present. (nss)

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