Bhatkal: A one-day national level seminar on ‘Entrepreneurial Innovation and Taxation’ was held on 4th February, Sunday at the conference hall of Anjuman Arts, Science and Commerce College Bhatkal.
The seminar was organised by the Department of Commerce of the Anjuman Degree college and PG Centre to help understand the implications of Income Tax and GST in the Indian Entrepreneurial scenario.
Addressing at the seminar, the Key note Speaker Shri Nandagopal Shenoy (F.C.A Mangalore) talked about Entrepreneurial Innovation stating that there is a fierce competition in the job market and it is getting hard to find jobs as India is a nation with the highest youth population. Hence, there is a need for self employment. Instead of waiting for a job opportunity, we need to create it for ourselves. As a younger generation who are entering the field of employment, we have to think about service sector because as it is the growing sector of our economy. “Grow organically and avoid shortcuts”, he added.
He further talked about GST saying, “It is the indirect tax of the century as it will be valid for more than 100 years to come. Everything is software controlled which avoids excessive paperwork. GST has destination based consumption tax unlike the pre-SGT tax system which was origin based. In short, GST means one nation, one tax and one market.”
Inaugurator of the Seminar Dr. Mohammed Saleem A Lahori (Director of AIMS Pune) explained about the skills and qualities required to become a successful entrepreneur and also advised about how to acquire them. He stressed that discipline, punctuality, positive attitude, Knowledge of product and proper execution and presentation are the key points for becoming a successful entrepreneur.
Chief Guest of the seminar Shri Siddannaji R N (Additional commissioner of Income Tax Mangalore) addressed about taxation and explained about various direct and indirect taxes. He further specified about various direct taxes payable to the government especially Income tax. He explained the history of taxation and how taxes were introduced in India during the British rule.
The guest of honor Shri Bharateshkumar (Asst Commissioner, SGST Kumta) addressed about how GST played an important role in uniting the nation and how it is not only Goods and Service Tax but also Good and Simple Tax.
Addressing as a resources person, HOD of Economics, JSS College Dharwad, Dr. Shoukat Ali Maghlamani explained the various tax slabs of GST. He also discussed about how it will affect the economy in the long-run.
The seminar was presided over by vice president of Anjuman Hami-e-Muslimeen Janab S M Syed Abdul Rahman.
The seminar began with the recitation of the verses of the holy Quran by Hasan Kazia followed by a welcome speech by the principal of Anjuman Degree college and PG Centre Bhatkal Prof. Mushtaque K Shaikh.
Students of the college florally welcomed the guests on the dais and introduced the chief guest, guest of honor and the resource persons. Vote of thanks was given by co-ordinator Prof. A M Mulla.
The one-day national level seminar on Entrepreneurial Innovation and Taxation began at 9:00am on Sunday morning and students from various colleges participated in it.
College Board secretary Javeed Hussain Armar, IQAC and NAAC coordinator Prof. B H Nadaf were also present on the dais while many other officials had attended the seminar.