TIOL Knowledge Foundation (TKF) is going to release a compendium on 5 years of GST in India on Monday. About 40 chosen experts of indirect taxes have contributed their perspective and insights on the journey of GST thus far. The experts were selected from all spheres – politics, policy-making, law, accounting, corporate, management and also fiscal journalists. The compendium is to be released at TIOL Tax Congress 2022 by the judge of Delhi High Court, Justice Manmohan and the Chairman of PM’s Economic Advisory Council, Dr Bibek Debroy.
At the same event, a new book on ‘5 Years of The Cob (Web) on GST – Threading the Needle” is going to be released by the Finance Minister of Tamil Nadu, Dr P Thiaga Rajan; Member of the Rajya Sabha, Mr Sushil Modi, former Judge of Supreme Court of India, Justice A K Patnaik and the former Finance Minister of Punjab, Mr Manpreet Singh Badal. The book has been authored by the Founder & CEO of www.taxindiaonline.com, Mr Shailendra Kumar who has also authored two more books in the past – “COVID-19 – Genocide Without Parallel” and ‘It’s Raining Black’ on the issue of black money and tax havens.
TIOL Tax Congress 2022 will have four Technical Sessions in which global experts will be joining Indian experts to deliberate key taxation challenges roiling the Indian and global economies. The Secretary of the UN Tax Committee, Mr Michael Lennard, will be joining the session on Digital Economy which has speakers from the CBDT, Jio Platforms, noted senior advocate, former Member of CESTAT and partners of Deloitte which is the knowledge partner for the event. What makes this session relevant for the ‘Digital India’ driven economy is – with market potential running in trillions of dollars across the world, businesses are poised to be transformed by portals and apps that replace the in-person sales model in favour of digital sales. This has thrown innumerable issues that policy-makers, tax payers and professionals in the arena of both direct and indirect taxes, need to grapple with.
The second technical session is on the New Income Tax Code – Is India running behind the clock? Though the DTC report has been put in the cold storage but the general perception about the Income Tax Act is that it has outlived its utility and the shelf life. Six top experts are going to deliberate on various chapters of the Act and take a comprehensive look at the capital gains regime; personal income tax; business income; NRI taxation and many others.
The third session is going to be – Automated Tax Compliance – Managing Bid Data. A senior speaker from the World Bank will join the CEO of the GST Network and other experts from the industry and trade and the CBDT to look into the AI and blockchain-driven tools which are being deployed not only to prevent tax evasion but also facilitation of taxpayers. Data analytics has come to play a critical role for all the stakeholders.
The fourth session is going to look at the next frontiers of GST which has entered into a critical phase of reforms. The experts, including an international speaker, would be touching on issues relating to the excluded sectors, in particular the energy sector; input tax credit; compliance etc.
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