THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA (Set up by an Act of Parliament) June-July 2017 Goa Branch of WIRC of ICAI Inside Branch Activities Report Forthcoming Programmes Library Books at the Branch Publications for Sale at the Branch Managing committee Chairman: CA. Vinesh Pikale Vice Chairman: CA. Kedar Kenkre Secretary: CA. Pradip Lad Treasurer: CA. Sudhan Patil Members: CA. Shekhar Marathe CA. Yeshwant Kamat Chairman communication Respected Members Don t call it a Dream, Call it a Plan The essence of this statement is that one has to believe in oneself and one s dreams completely and to the core, so much so that it no longer remains an incorporeal wish or desire but become a concrete action oriented plan. For every goal that we seek it is only through this scale of commitment that we can achieve. This newsletter will probably be accompanied by the Monsoon or at the very least the pre-monsoon showers, providing much needed respite from the incredible heat that has drained us over the last month. Goa takes on an incredible verdant garb, and as I m prone to confess more often than once, this season is my favourite. While we may stop to smell the roses, the strong pace of activities at the Goa branch has continued. The activity report contained in the newsletter will provide an overview of some of the major program of the last month. At the Branch we are always open to suggestions and ideas that are need based for programs both from members and students. The compliance and filing season will soon be upon us and coupled with the tax regime change to GST we have hectic days ahead. This edition of the newsletter also carried with it the draft rendering and floor plans of the new Goa Branch building. We are putting all our energies into it for an expedited completion. Details of forthcoming programs and publications available for sale at the branch are also in this newsletter. Do go through and try and take full benefit of these. Besides the Goa branch has a well stocked library comprising excellent reference material and I would urge Members and Students to make use of the same. With Warm Regards CA. Vinesh Pikale Chairman Goa Branch Newsletter 1
ACTIVITY REPORT OF GOA BRANCH OF WIRC OF ICAI MAY & JUNE 2017 Sr. No. Date Programme Speakers Venue CPE Hrs. 1 13.5.2017 One Day Seminar on ICDS organized by Direct Taxes Committee of ICAI ICDS I: Accounting Policies, II: Valuation of Inventories, III: Construction Contracts and IV: Revenue Recognition ICDS - V: Tangible fixed assets, VI: The effects of changes in foreign exchange rates, VII: Government grants, IX: Borrowing costs and X:Provisions, contingent liabilities and contingent assets CA. Nandkishore C. Hegde CA. Gautam Nayak Terminal Banquets - 4th Floor Caculo Mall, Panaji, Goa 6 2 17.5.2017 Sub-Committee of State Level Co-ordination Committee (SLCC) for the State of Goa Shri. Ashok Parikh, Deputy General Manager, DNBS, MRO, RBI Reserve Bank of India, Goa, Gera s Emporium II, 7th Floor, EDC Complex, 3 22.5.2017 Interaction with Commissioner of Commercial Taxes, Panaji, Goa Art & Cultural, 4 25.5.2017 Programme on Filing of Statement of Financial Transaction organized by The Income Tax Department, Filing of Statement of Financial Transaction Shri. R. Ravichandran, IRS (Intelligence & Criminal Investigation) Karnataka & Goa Region Convention Hall, Goa, GCCI, Panaji, Goa 5 25-27.5.2017 3 days Webcast on GST for CA Students Concept of GST and Meaning of Supply, Composition scheme etc. CA. Atul Kumar Gupta, Chairman, BOS Goa Branch Premises, Input Credit Under GST CA. Sushil Kumar Goyal, Central Council Member Transitional Provisions under GST CA. Gaurav Gupta Goa Branch Newsletter 2
Sr. No. Date Programme Speakers Venue CPE Hrs. 6 26.5.2017 Lecture Meeting on Ind AS CA. Abhay Fadte Branch Premises, 3 7 28.5.2017 CPT Mock Test for June 2017 Exam Goa Branch Premises, 8 3.6.2017 National Talent Hunt for CA Students Goa Branch Premises, 9 10.6.2017 Intensive Study Course on Companies Act, 2013 Internal Financial Controls (Assessment and Reporting Requirements, Case studies CA. Siddartha Sharma Terminal Banquets Hall, Caculo Mall, 6 Key provisions for accounts and audit - Appointment and Rotation of auditors, CARO 2016, Fraud Reporting and Depreciation and Loans Borrowings Deposits and Related Party transactions (Practical issues and reporting requirements, Special Focus on impact on private limited Companies) CA. Shashikant Shenoy 10 15.6.2017 State Level Co-ordination Committee Chief Secretary, Government of Goa Conference Hall, Secretariat, Government of Goa, Porvorim, Goa. 11 16-17.6.2017 2 Day Programme on GST Hotel Fidalgo, 12 Challenges & Opportunities in Implementation of GST Important Definitions, Concept of Supply, Schedule I, II & III, Levy, Composition, Reverse Charge, TDS/TCS, Time of Supply of Goods & services, Invoices Place of supply of goods and services, Taxability of Inter State Supply, Cross Border Transactions, Job Work, E- commerce, Goods on Approval- Related CA. Mangesh Kinare CA. Venkataramani Satyamoorthy CA. Vikram Mehta Goa Branch Newsletter 3
Registrations Requirements Value of Supply & Valuation Rules, Case Studies on Valuations of Inter Branch Transfers and other free supplies Input Tax Credits, Input Service Distributors - Related Transitional Provisions CA. Rajiv Luthia CA. Udayan Choksi Returns, Refunds & Credit Matching, E-way Bills, Records- Accounting Changes required CA. Gaurav Save 12 21.6.2017 International Yoga Day Live Telecast of Inaugural of the 3rd International Yoga Day President & Vice-President of ICAI addressing Members & Students on the International Yoga Day The Yoga session by Kripa Foundation Iyengar Yoga Centre commences Work Life Balance and Importance of maintaining Hygiene and Cleanliness in our daily Life 13 24.6.2017 Basic Understanding of GST CA. Sushma Khandeparkar Goa Branch Premises, Kripa foundation, Iyengar Yoga Centre, Panaji, Goa. Goa Branch Premises, 14 24.6.2017 CCP - M.E.S. College, Vasco, Goa CA. Satyaprakash Kamath M.E.S. College, Vasco, Goa Goa Branch Newsletter 4
CA. Vinesh R. Pikale, Chairman, Goa Branch of WIRC of ICAI addressing the participants at the One Day Seminar on ICDS held at Terminal Banquets, Caculo Mall, on 13 th May 2017. Seated on the dais from left to right CA. Nandkishore C. Hegde, Faculty and CA. Pradip Lad, Secretary, Goa Branch of WIRC of ICAI. CA.Nandkishore C. Hegde, Faculty addressing the participants at the One Day Seminar on ICDS held at Terminal Banquets, Caculo Mall, on 13 th May 2017. Seated on the dais from left to right CA. Vinesh R. Pikale, Chairman, Goa Branch and Pradip Lad, Secretary, Goa Branch of WIRC of ICAI. CA. Gautam Nayak, Faculty addressing the participants at the One Day Seminar on ICDS held at Terminal Banquets, Caculo Mall, on 13 th May 2017. Members participating at the One Day Seminar on ICDS held at Terminal Banquets, Caculo Mall, on 13 th May 2017. Goa Branch Newsletter 5
CA. Abhay Fadte, Faculty addressing the participants at the Lecture Meeting on Ind AS held at Goa Branch Premises, on 26 th May 2017. Students participating at 3 days Webcast on GST held at Goa Branch Premises, from 25 th to 27 th May 2017. Students participating at the CPT Mock Test for June 2017 Exam held at Goa Branch Premises, on 28 th May 2017. National Talent Hunt for CA Students held on 3rd June 2017 at Goa Branch Premises,. Standing from left to right CA. Kiran Kharangate, Past Chairman, Goa Branch & Judge CA. Vinesh Pikale, Chairman, Goa Branch, CA. Kedar Kenkre, WICASA Chairman & Vice Chairman Goa Branch, CA. Pradip Lad, Secretary, Goa Branch, CA. Jovilyn Pereira, Judge alongwith with Participants and Winners. Goa Branch Newsletter 6
CA. Siddartha Sharma, Faculty addressing the participants at the Intensive Study Course on Companies Act, 2013 held at Terminal Banquets Hall, Caculo Mall, on 10 th June 2017. CA. Shashikant Shenoy, Faculty addressing the participants at the Intensive Study Course on Companies Act, 2013 held at Terminal Banquets Hall, Caculo Mall, on 10th June 2017. Members participating at the Intensive Study Course on Companies Act, 2013 held at Terminal Banquets Hall, Caculo Mall, on 10 th June 2017. C CA. Mangesh Kinare, Faculty addressing the participants at the 2 Day Programme on GST held at Hotel Fidalgo, on 16 th & 17 th June 2017. Goa Branch Newsletter 7
CA. Venkataramani Satyamoorthy, Faculty addressing the participants at the 2 Day Programme on GST held at Hotel Fidalgo, on 16 th & 17 th June 2017. CA. Vikram Mehta, Faculty addressing the participants at the 2 Day Programme on GST held at Hotel Fidalgo, on 16 th & 17 th June 2017. CA. Rajiv Luthia, Faculty addressing the participants at the 2 Day Programme on GST held at Hotel Fidalgo, on 16 th & 17 th June 2017. CA. Udayan Choksi, Faculty addressing the participants at the 2 Day Programme on GST held at Hotel Fidalgo, on 16 th & 17 th June 2017. Goa Branch Newsletter 8
CA. Gaurav Save, Faculty addressing the participants at the 2 Day Programme on GST held at Hotel Fidalgo, on 16 th & 17 th June 2017. Members participating at the 2 Day Programme on GST held at Hotel Fidalgo, on 16 th & 17 th June 2017. Chairman CA. Vinesh Pikale and Managing Committee Members, CA. Kedar Kenkare, CA. Yeshwant Kamat and CA. Pradip Lad addressing the participants at the International Yoga Day held at Goa Branch Premises, on 21 st June 2017. CA. Vinesh Pikale, Chairman of Goa Branch actively participating in Yoga Day Celebrations along with other CA Members and Students at Kripa foundation, Iyengar Yoga Centre, Panaji hosted by Goa Branch on 21 st June 2017. Goa Branch Newsletter 9
CA. Satyaprakash Kamath, Faculty addressing the participants the Career Counselling programme held at M.E.S. College, Vasco, Goa held on 24 th June 2017. Career Counselling programme held at M.E.S. College, Vasco, Goa on 24 th June 2017. Seated from right to left CA. Kedar Kenkre, WICASA Chairman along with Teachers and Students. Goa Branch Newsletter 10
LIBRARY BOOKS AT GOA BRANCH Sr. Title Author Quantity No 1 Auditor Practice Manual CA. Kamal Garg 1 2 Capital Gains Ram Dutt Sharma 1 3 Penalties & Prosecution S.R. Kharabanda, 1 Prem Nath, V Gopalan 4 Removal of Names of CA. Kamal Garg 1 Companies 5 Micro, Small and Medium Abha Jaiswal 1 Enterprises 6 Insolvency & Bankruptcy 1 Code 7 Search & Seizure S. R. Kharabanda, V. 1 Gopalan 8 Presumptive Taxation u/s CA. Srinivasan Anand 1 44 A D 9 ICDS CA. Kamal Garg 1 10 RERA 1 11 International Taxation CA. Kamal Garg 1 12 TDS Dr. Vinod K. 1 Singhania 13 Depreciation CA. Kamal Garg 1 14 HUF CA. Pawan K. Jain 1 15 Amalgamation CS. Ajay Kumar 1 16 Taxation of Real Estate Dr. Raj K. Agarwal, 1 Dr. Rakesh Gupta 17 Company Balance Sheet & CA. Kamal Garg 1 Profit & Loss A/c 18 Guide to Transfer Pricing 1 PUBLICATIONS FOR SALE AT GOA BRANCH Sr. No Title Price 1 WIRC reference manual Rs.300 2 Background Material on GST Acts & Draft Rules Rs.450 2017 Goa Branch Newsletter 11
FORTHCOMING EVENTS Sr. Programme No. 1 Quiz Contest for CA Students on 8th July 2017 at Goa Branch Premises. 2 Talk on GST All About Returns on 8th July 2017 at Central Library Hall, Patto, Panaji. 3 Orientation Course for IPCC Students starting from 13th July 2017 at Goa Branch Premises. 4 2 Day Seminar on Nuances of GST jointly organized by Goa Branch & Goa Chamber of Commerce on 14th & 15th July 2017 at Menezes Braganza Hall, Panaji. 5 Sub Regional Conference on 18th & 19th August 2017 at Bogmallo Resort, Vasco. Goa Branch Newsletter 12