Excelsior Correspondent
JAMMU, Mar 20: J&K Branch of Institute of Chartered Accountants of India organized a workshop on Bank Audit & E-Filing of VAT Returns.
H K Lohia (IPS), who was chief guest on the occasion, shared his vast experiences regarding the modus operandi of hawala transactions through the banking channel. He also discussed issues relating to circulation of counterfeit currency. He stressed that the auditors may also focus on the transactions covered by Foreign Currency Regulation Act.
CA Ajay Kumar Jain, who was the guest faculty on the topic of Bank Audit, discussed the various provisions of RBI, including latest circulars governing bank audit, restructuring of advances by the bank etc.
CA Vikram Garg, Chairman J&K Branch, delivered the inaugural address and emphasized on the importance of the topics of the seminar. He highlighted the role of Auditors during bank audit and apprised the members about the various activities being undertaken by the branch.
Later on, in the second Technical Session, a joint team from Department of Commercial Taxes and Tata Consultancy Services, led by Vinay Samnotra (CTO) and comprising of Sandeep Kumar, Kalbe Hyder and Shivani, delivered lecture on E-Filing of VAT/CST/GST returns.
It is pertinent to mention that E-filing has become mandatory for dealers having turnover exceeding one crore with effect from fourth quarter of financial year 2013-14.
CA Shalay Razdan conducted the proceedings while CA Sandeep Panhnanda presented the vote of thanks. CA Dalip Kaul, CA Anil Sharma along with a large number of Chartered Accountants participated in the seminar.
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