MMS discusses taxation issues
As a part of Printer's Day celebrations, Mumbai Mudrak Sangh organised an riveting open house panel discussion on the pressing issue of taxation, 'Taxation and the Printer' on 12 April at The Courtyard by Marriott in Mumbai.
13 Apr 2013 | 1798 Views | By Mihir Joshi
Uday Dhote, director, Dhote Offset and a qualified chartered accountant delivered a keynote address with long term issues in mind and addressed some basic problems that hamper printers today and provisions that exists.
The keynote speech was followed by a panel discussionwhich was moderated by Dhote. Ajay Wadke, a practicing chartered accountant talked about direct taxes and general co-ordination; R Sundaram, a lawyer by profession with more than 15 years experience in the field of excise, service tax and customs shed light on the burning questions reverse tax mechanism and Service Tax. He said, “Printing is considered a manufacturing activity and printing was exempted according to the Service Tax Act and even intermediate process as job work in relation to printing are also exempt from service tax. The problem lies in the definition of ‘job work’ activities which needs to be clarified.”
Kiran Garkar who has served as the editor Sales Tax Review and secretary of the VAT core committee, discussed limitations that exists in the VAT laws and the haphazard manner in which they are implemented, the need of self-policing and frequent mapping;
Sanjay Patel, president BMPA and packaging printer represented the print fraternity on the panel, he has taken keen interest in taxation matters while representing AIFMP and CBEC and many interesting questions about sales tax which troubled a lot of printers.