REPORT - Sagacity · Ajay Talreja, Vinod K. Mhaske, Hiral Shah, Hemant Walkar, Sunil G. Kushlani ... To receive the report of the Chief Election Officer ... Vile Parle East with 452

The Goods and Services Tax Practitioners’ Association of Maharashtra(Formerly Known as The Sales Tax Practitioners' Association of Maharashtra)

BST

GST

VAT

th

ANNUAL REPORT

stFOR THE YEAR ENDED 31 MARCH, 2017

MANAGING COMMITTEE 2016-17

OFFICE BEARERS 2016-17

Seated From L To R : Dinesh M. Tambde, Hon. Jt. Secretary, Pranav P. Kapadia, Vice President, Dr. Shashank S. Dhond, President, Pradip R. Kapadia, Hon. Treasurer, Raj P. Shah, Hon. Jt. Secretary

Standing Form L To R : Sonali A. Bapat, Dhaval Talati, Bhaven D. Mehta, Chirag Parekh, Sunil D. Joshi, D. V. Phad, Pravin V. Shinde, Amol T. Mane, Aalok K. Mehta, Dilip V. Nathani, Dharmen R. Shah, Ajay Talreja, Vinod K. Mhaske, Hiral Shah, Hemant Walkar, Sunil G. Kushlani, Amol Shirode, Mahesh Madkholkar

Seated From L To R : Pranav P. Kapadia, Vice President, Dr. Shashank S. Dhond, President, Standing Form L To R : Dinesh M. Tambde, Hon. Jt. Secretary, Pradip R. Kapadia, Hon. Treasurer, Raj P. Shah, Hon Jt. Secretary

Inside 2nd Cover

The Goods & Services Tax Practitioners’ Association of MaharashtraOffice : 8 & 9, Mazgaon Tower, 21, Mhatar Pakhadi Road, Mazgaon, Mumbai - 400 010. Tel. : 2375 2267/68

Email : [email protected] • Website : www.stpam.org

Library : 1st Floor, 104, GST Bhavan, Mazgaon, Mumbai–400 010. Tel.: 2373 7153

Library : Suburban GST Bhavan, Ground Floor, A Wing, Bandra-Kurla Complex, Bandra (East), Mumbai–400 051.

66th ANNUAL REPORT(Report for the year 2016-17)

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The Goods & Services Tax Practitioners’ Association of Maharashtra Sagacity, Service, Solidarity Leads to Success

Notice ----------------------------------------- 3

Highlights of the Year --------------------- 4

Annual Report ------------------------------ 6

Auditor’s Report ---------------------------35

Balance Sheet -----------------------------37

Income & Expenditure A/c --------------40

Schedules-----------------------------------44

Annexures ----------------------------------53

Significant Accounting Policies --------69

CONTENTS


E-mail : [email protected] • Website : www.stpam.org

Library : 1st Floor, 104, GST Bhavan, Mazgaon, Mumbai–400 010. Tel.: 2373 7153


Preponement of 66th Annual General Meeting

NOTICE

In Continuation of the 66th Annual General Meeting Notice dated 25th April, 2017 all the Members are hereby informed that the time of the Annual General Meeting to be held on 21st July, 2017 is preponed and changed from 5.00 p.m. to 4.00 p.m. The Venue and Agenda remain the same.

Place : Mumbai Dated : 13th July, 2017 Dinesh M. Tambde

Raj P. Shah Hon. Jt. Secretaries

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Sagacity, Service, Solidarity Leads to Success


E-mail : [email protected] • Website : www.stpam.org

Library : 1st Floor, 104, GST Bhavan, Mazgaon, Mumbai–400 010. Tel. : 2373 7153


66th Annual General MeetingNOTICE TO MEMBERS

NOTICE is hereby given to all the members of the Association that the 66th ANNUAL GENERAL MEETING of the Members will be held on Friday the 21st July, 2017 at 5.00 p.m. at the GSTPAM Association Library Hall, Room. No. 104, 1st Floor, GST Bhavan, Mazgaon, Mumbai–400 010, to consider the following agenda:—

AGENDA1. To read and confirm the minutes of the last Annual General Meeting held on 15th

July, 2016.

2. To receive and adopt the Audited Statement of Accounts of the Association, Sales Tax Review and Books and Bulletin for the year ended 31st March, 2017 and the Balance Sheet as on that date and to receive and adopt the Annual Report of the Managing Committee for the year 2016-17 (A copy of the report and accounts would be sent separately)

3. To appoint an Auditor for the year ending 31st March, 2018 and fix his honorarium.

4. To receive the report of the Chief Election Officer and declare the result of the Election.

5. To transact any other business that may be brought with the permission of the Chair.

Mumbai - 400 010 Dinesh M. TambdeDated - 25th April, 2017 Raj P. Shah Hon. Jt. Secretaries

Resolution : Any member desiring to move any resolution, other than alterations in the Articles of the Constitution of the GST Association of Maharashtra, in the General Meeting, should send the same duly proposed by a member and seconded by another member so as to reach the office of Association, latest by 21st June, 2017.

Note : Any member desiring to seek any information on the Accounts may do so at least 3 days in advance in writing so as to enable the committee to reply to the same to the satisfaction of the member concerned.

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Highlights of the year

1. Strong representation before various authorities and meetings with the Hon’ble Finance Minister, Maharashtra State and Hon’ble Commissioner of Sales Tax, Maharashtra State for Clarification and Amendments to the MVAT Act, 2002 and various issues in the administration of the Act. Also time-to-time Representation were made on G.S.T.

2. Study Circle Meetings at Mazgaon library on important subjects.

3. Effective use of Sales Tax Review for communication with the Sales Tax Department and business community.

4. E-mailing and Publication of monthly STPAM News Bulletin for Members containing Circulars, Short Notes on Tribunal Judgment, Important Judgments on Allied Laws and other information regarding programmes organised by the Association, Renewal of Membership etc.

5. Mega Guidance Cell meetings at Mazgaon Library on the topic of New Automation Process, Overview of GST Portal by GSTN Official & PTRC.

6. Workshop on MVAT, Service Tax and GST with Brains’ Trust Session jointly organised with AIFTP, CTC, BCAS, MCTC and WIRC of ICAI with 201 participants.

7. 41st Residential Refresher Course at Hotel Radisson Blu, at Kochi with 220 participants.

8. 16th International Study Tour at USA with 47 participants conducted, organised and operated by Club 7 Holidays Ltd.

9. Two Full Day Seminar on Goods & Services Tax (Model Law) on 22nd & 23rd October, 2016 at Navin Thakkar Auditorium, Vile Parle East with 452 participants.

10. Outstation seminars held at various districts of Maharashtra during the year.

11. Coaching Class & Mock Tribunal held for the benefit of new as well as experienced members with a view to explain the basics of VAT/CST & GST. This year also Mock Tribunal was held at Bench 1 of The Maharashtra Sales Tax Tribunal with 103 participants.

12. Our Website www.stpam.org was updated. New Domain name www.gstpam.org has also been activated.

13. Intensive Study Course was conducted.

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14. Seminar on GST jointly with The Malad Chamber of Tax Consultants conducted at Malad with total enrollment of 275.

15. Public Meeting on Union Budget, 2017 organised jointly with Ghatkopar CPE Study Circle, Forum of Free Enterprises, Chamber of Tax Consultants and various associations.

16. Felicitation of our senior members S/Shri, S.S. Gaitonde, P. V. Surte & P. C. Joshi.

17. First time Box Cricket Tournament was conducted at Thakur Turf, Kandivali jointly with CTC & MCTC.

18. 2 Days NRRC conducted at Pune on 11th & 12th Nov. 2016 jointly with AIFTP (WZ) & WMTPA with 377 participants.

19. Compilation of GST Model Draft Law, Rules, Formats & FAQs Book compiled & released.

20. 7 Lecture Orientation Course on GST for in-depth analysis was organised from 19th to 26th December 2016 with 66 participants.

21. Special General Meeting for Amendment of Constitution was held on 17th March 2017.

22. Conducted meeting under the auspices of Late Shri Arvind Thakkar Memorial Lecture.

23. 2nd Orientation Course on GST for in-depth analysis with 6 lectures was organised from 3rd May to 5th May 2017 with 127 participants.

24. Two Full day Seminar on Goods & Services Tax on 13th & 14th May, 2017 at Navin Thakkar Auditorium, Vile Parle East with 565 participants.

25. Compilation of GST Final Law, Rules, Formats & FAQs Book compiled & released.

26. Outstation Orientation Course on GST at Thane was organized on 3rd, 10th, 17th and 24th June, 2017.

27. 2nd Outstation Orientation Course on GST at Thane was organized from 18th June to 26th June with 219 participants.

28. Short Publication on Transitional Provision under GST Act was compiled.

29. Full day seminar on GST at Dahanukar Hall, Kala Ghoda on 16th June, 2017 jointly with AIFTP (WZ) and MACCIA.

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The Goods & Services Tax Practitioners’ Association of Maharashtra

66th Annual Report (Report for the year 2016-17)

We have pleasure in presenting the 66th Annual Report of the activities of the Association during the period 2016-17 along with the Audited Statement of Account and Balance Sheet as on 31-3-2017.

1. Election for the year 2016-17

At the 65th Annual General Meeting held on 15th July 2016, Shri D. N. Parikh, Chief Election Officer informed the members present that the election was required for the year 2016-17. He announced the names of the office bearers and managing committee members who were elected. The baton of the Presidentship was entrusted to the experienced and dedicated member of the Association, Dr. Shashank Dhond.

2. Election Committee

Elections are an important aspect of democratic functioning of any organisation. Under Article 17(1) of the Constitution of our Association, an Election Committee was formed to conduct elections for the post of Office Bearers and the members of the Managing Committee for the Year 2017-18. The Committee was headed by our Past President, Shri J. D. Rawal as a Chief Election Officer.

3. Managing Committee

At the first meeting of the Managing Committee Shri Sachin Gandhi, Shri Dhaval Talati, and Shri Milind Bhonde were unanimously co-opted as the members of the Managing Committee for the year 2016-17. With their wealth of experience in the functioning of the Association, they guided the members of the Managing Committee and the Office Bearers in the day-to-day issues arising before them.

The members of the Managing Committee for the year 2016-17 comprising young, enthusiastic and dynamic members performed their functions with

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great zeal throughout the year. During the year, 13 meetings of the Managing Committee were held. The details of attendance are given in Annexure “C”.

4. Law & Representation Committee – VAT

The Law and Representation Committee of the STPAM, has the Hon’ble task of representing around 3,500 members from all across Maharashtra. This year practitioners had to face three main issues. Amnesty Scheme, Automation of Returns and GST Enrollment.

Committee frequently held meetings with CST and other authorities, gave representations and held Study Circle Meetings for the benefit of the members. Apart from that the Committee also held numerous meetings with the Finance Minister of Maharashtra, to represent legal issues or to escalate issues unresolved by the Commissioner. The Finance Minister has appreciated the role of STPAM in bringing upon accountability in the Sales Tax Department.

The Committee actively strove to act for the benefit of the members and ensured that their interests are protected even in the light of some strong opposition by the Sales Tax Department. Following are the list of Representations and the status of the issues represented therein.

Representation to CST on Extension of M.S.A.D. application time was considered and extended vide Circular 31T/2016 to 15.11.2016

Representation made to CST for credit of amount paid prior to Asst. Order under M.S.A.D. Act was considered vide Circular 21T of 2016

Representations were made to C.S.T. for payment made after Asst. Order but before filing of appeal were to be covered u/s. 40 of MVAT Act, at time of making M.S.A.D. Act, was allowed to be adjusted against Tax vide Circular 10T of 2016.

Representation made by STPAM to C.S.T. for submitting proof of appeal withdrawal letter instead of Withdrawal order was accepted by the C.S.T. vide Circular No. 20T of 2016.

Parth Badheka Convenor

Vivekanand Rao, Convenor

Dr. Shashank Dhond

Chairman

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Representations were strongly made for non-submission of monthly returns, which was considered by the C.S.T. and vide Circular 34T extension was granted.

Representation to C.S.T on issue of Circular 5T of 2017 disabling provisional ID of non-compliant Phase 1 & Phase 2 dealers, but needless to say such dealers were not eligible for the benefits of transitional provisions under GST law. It was brought to the notice of the C.S.T. who took prompt action to issue Circular 6T of 2017 – Corrigendum to Circular 5T of 2017.

List of Representations

Sr. No.

Date Representation Authority Status

1 27-07-16 Issues relating to Maharashtra SAD Act

CST Additional clarification issued through circulars

2 30-07-16 Extension of Returns for April to June 16 and issuance of CST Declarations

CST Successful

3 01-09-16 Issues relating to PT Amnesty

CST Resolved

4 02-09-16 Meeting with Commissioner for request for removal of condition for grant of stay for amnesty and extension

CST Ordinance XXIII of 16 issued on 17-9-2016 and CST issued 24T of 2016 and Scheme extended upto 15-11-2016

5 20-09-16 Letter of appreciation for issuance of 24T of 2016

CST

28-09-16 Representation regarding suggestions on Model GST Law

H o n ’ b l e M e m b e r Secretary , Empowered Committee of State Finance M i n i s t e r s , New Delhi

Various suggestions accepted in the final bill

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Sr. No.


6 01-10-16 Representation regarding suggestions on Model GST Law

CC:1. Principal F i n a n c e S e c r e t a r y , Mumbai2. CST

7 09-11-16 R e p r e s e n t a t i o n for Extension of Amnesty Scheme post Demonetization

F i n a n c e Minister of Maharashtra CC: CST

Amnesty extended to 30-11-2017

8 18-11-16 Representation for automation issues, extension of returns filing dates and GSTN

CST Extension promptly granted for returns and GSTN

9 21-11-16 Issues relating to migration to GST Portal

CST GSTN Migration date extended

10 09-12-16 Urgent extension of 1 Quarter returns

CST Successful

11 03-03-17 For wrong GST circular curtailing transitional provisions vide 5T of 2017

CST C o r r i g e n d u m issued on 4-3-17, withdrawing the contentious portions

12 09-03-17 Representation and Pre budget meeting with Finance Minister for smooth revenue collection and ‘Ease of Doing Business’

F i n a n c e Minister of Maharashtra

13 10-03-17 Issues relating to automation and GST Portal

CST CC: Finance Min. Maharashtra

Partly resolved

14 21-03-17 Urgent representation for issues relating to proposed state budget

Finance Min., Maharashtra CC: CST

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Sr. No.


15 20-04-17 Email representation for extension of Q3 and monthly returns

CST Successful

16 24-04-17 Failure of Automation, ambiguous dates of extension, and urgent action by CST

CST Immediate correction of date, District level JC meetings promised by CST

17 27-04-17 Additional issues under Automation and PT

CST Under urgent consideration

5. GST Committee

The GST Committee was chaired by Adv. Vinayak Patkar and the Joint Convenors were CA. Ashit Shah and Adv. Vinod Mhaske. The GST Committee has made various representations and suggestions to Central and the State Government on proposed GST from time to time. The details of the activities during the year 2016-17 are summarized below:

During the year 2016-17, the GST Committee organized Study Circle Meetings, GST Orientation Courses and Seminars to educate the members of the Association on the proposed Model GST Law. Video recording of Study Circle Meetings and Seminars are also placed on the website of the association.

The GST Committee had arranged Study Circle Meeting on 19th August, 2016 addressed by our Vice-President, CA. Pranav Kapadia on the subject of “Overview of GST” and respected members of association were present.

We have organized Two Full Days Seminar on 22nd & 23rd Oct, 2016, at Navin Thakar Hall, Mumbai, on the subject of proposed Model of GST Law (1st Draft). The learned speakers were Adv. P. C. Joshi, CA. Deepak Thakkar, Adv. Nikita Badheka, Adv. Vinayak Patkar, CA. Janak

Ashit Shah, Convenor

Vinod Mhaske, Convenor

Vinayak Patkar Chairman

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Vaghani, Adv. C. B. Thakar, CA. Sujata Rangnekar, CA. Rajat Talati, CA. Kiran Garkar and Adv. Ratan Samal. 452 delegates participated in the said seminar.

We have also organized Seminars at Nashik, Thane, Malvan, Solapur, Nagpur, Amravati, Kolhapur and Kudal on the subject of proposed Model GST Law, in order to update our outstation members with the latest development in the GST law.

During the year 2016-2017, we first time have arranged GST Orientation courses for in-depth analysis on proposed Model GST law. The course has series of 7 lectures of 3 hours and it started from 19/12/2016 to 26/12/2016, at GSTPAM Library, Mumbai. The total 66 delegates was participated from the Profession and Industry in the said GST Orientation Courses.

We also have organized 2nd GST Orientation Course, on 3rd, 4th & 5th May, 2017, at STPAM Library, Mumbai, consisting of 3 days of 5 hours to provide in-depth knowledge of the GST Law for the benefit of members and their office staff at large. The total 127 delegates was participated from the Profession and Industry in the said GST Orientation Courses.

We had organized Two Full Days Seminars on 13th & 14th May, 2017, at Navin Thakar Hall, Mumbai, on GST. The learned speakers were Adv. Nikita Badheka, Adv. Vinayak Patkar, Adv. C. B. Thakar, CA. Sujata Rangnekar, CA. Rajat Talati, CA. Kiran Garkar and Adv. CA. Vikram Mehta, CA. Mayur Parekh and 567 delegates participated in the said seminar.

We had organized jointly with the MCTC Two Full Days Seminar on 2nd & 3rd June, 2017, at Malad, on GST.

Two Books were compiled on 1st Draft Model GST and Final GST Act.

The GST Committee had made representation during the year 2016-17 before the concerned GST Authorities on the following issues.

SR. NO.

Date Topic Submitted

(1) 07/09/2016 Various proposals and representations on the subject of GST.

Hon’ble Finance Minister, State of Maharashtra

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(2) 28/09/2016 Representation on the Proposed Model Goods & Services Tax Law for Centre and State of Maharashtra.

A) Hon’ble Member Secretary empowered Committee of the State Finance Minister New Delhi.

B) Hon’ble Finance Minister, the Principal Secretary of finance and the Commissioner of Sales Tax, Maharashtra State

6. Journal Committee

Our prestigious publication Sales Tax Review, a Monthly Journal and mouthpiece of members was published uninterruptedly, every month under the able Editorship of Smt. Sujata Rangnekar and Associate Editor Shri Vikram Mehta along with the guidance and support of the Editorial Board comprising Shri S. S. Gaitonde, Shri P. V. Surte, Shri P. C. Joshi, Shri R. S. Pathak, Shri C. B. Thakar, Shri D. H. Joshi, Smt. Nikita Badheka, Shri Pravin Shah, Shri Ashvin A. Acharya and Shri Vinayak Patkar.

For the term of F.Y. 2016-17, Smt. Sujata Rangnekar as Chief Editor and Shri Vikram Mehta as Associate Editor of the Sales Tax Review have rendered their esteemed services.

The journal comprising columns, articles, gist of case laws, gist of DDQ’s, recent amendments, etc. continues to be a constant companion of practitioners. The Journal Committee was headed by Shri Mayur Parekh as the Chairman and Shri Dilip V. Nathani and Shri Ishaan Patkar as the Jt. Convenors. The Committee rendered valuable assistance in the publication of the Sales Tax Review.

During the year, in addition to the regular articles and columns on the topics of VAT, CST, Service Tax, Income Tax and Company Law updates, articles of prime importance on burning topics of “Introduction of GST Law” and various

Dilip V. Nathani Convenor

Ishaan Patkar Convenor

Mayur Parekh Chairman

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articles on Model GST and its impact on various Industries as well as the various sections and draft rules were published.

We place on record our grateful thanks to the Editor, Associate Editor, the Editorial Board and all the column writers and contributors of articles for their valuable efforts in sharing their knowledge and experience throughout the year.

7. Library Committee

Association’s utmost priority is to provide the members with the Latest Publications and material on the subjects of various Tax Laws. The libraries situated at the Vikrikar Bhavan, Mazgaon and Suburban Vikrikar Bhavan, Bandra to cater to this important requirement.

The committee was formed under the chairmanship of Mr. Dattatraya V. Phad and convenor Shri Sunil G. Khushalani.

Both the libraries were updated with latest books, Newsletters and Journals. Looking into the GST implementation in near future we had also updated the library with books on GST.

We had also installed “TAXMANN” software at Mazgaon Library to update the members with latest judgments, Amendments/Circulars/Notifications on VAT, Income Tax, Service Tax and Excise Laws.

8. Coaching Class Committee

Coaching Class is an important activity of the Association to provide training to new entrants in the profession through series of interactive sessions addressed by experienced members of our Association. 31st batch of Coaching Class was organised under the able Chairmanship of our Hon. Jt. Secretary Shri Raj Shah and Jt. Conveners Shri Sunil D. Joshi and Shri Aditya S. Surte at our Association’s library at Mazgaon. This year, with the advent of GST, the coaching class consisted lectures focused on significant topics of the Model GST law along with lectures covering the practical aspects of VAT, CST and Profession Tax. The total number of participants was 103 which consisted of new entrants

Raj Shah Chairman

Sunil Khushalani Convenor

Dattatray Phad Chairman

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in the practice of taxation, students who were pursuing professional courses and few of the practising professionals. This batch of Coaching Class was inaugurated by our Past President Smt. Sujata Rangnekar on 22nd November, 2016 and total 12 lectures on VAT, CST and Profession Tax and 10 lectures on the Model GST Law were conducted during the course. Three lectures were conducted every week and the classes were successfully completed in a span of mere 22 days.

Mock Tribunal was organised by the Committee wherein the students of the coaching class actively participated as Appellants and Defendants. Following last year’s practice, the Mock Tribunal was arranged at Bench One of Maharashtra Sales Tax Tribunal. The Mock Tribunal was inaugurated in hands of Hon. Shri Ashwinikumar Deore, President - Maharashtra Sales Tax Tribunal. The session was chaired by Shri. Ashwinikumar Deore, President and Shri V. U. Borse, Member – MSTT as Jury Members.

9. Computer, Website and Online Guidance Committee

This committee was headed by Shri Ashvin Acharya as Chairman and Shri Hiral Shah as Convenor. The website is an important and efficient tool to disseminate information amongst the members all over Maharashtra. It works as a catalyst to strengthen the bond between the Association and Members. Two Computers with few online tools were installed at the Library which can be used by Members for enhancing knowledge.

With the name change approved in the SGM, website www.gstpam.org has also been made functional. Several new concepts and facilities have been introduced. The mass e-mail facility has been re-introduced by the Association to spread awareness about different events organised by the Association. With the Demonetisation arena, the very useful feature of online payment facility for all the members was developed further to facilitate membership application from for new members as well as for renewal of membership. By this, members can pay

Sunil D. Joshi Convenor

Aditya S. Surte Convenor

Hiral Shah Convenor

Ashvin Acharya Chairman

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online and also apply online for membership or for renewal and fill the online form.

Association has got the website designed in the form by which members can access videos of Study Circle Meeting and other important data directly on home page. The handy facility given to members is android application for smart phones.

10. Accounting and Office Administration Committee

The Committee was headed by President Shri Dr. Shashank Dhond as Chairman and Shri Prashant Vora as Convenor. During the year, 3 staff members left the job and in their place new staff members were appointed. The day-to-day issues of Office Administration have been attended by the Committee members regularly along with proper guidance given to office staff as and when required which in turn results into smooth functioning of work of our office.

The duties of the existing & new staff have been reorganized so as to increase work efficiency among the staff. The rotations of duty of staffs were also carried out during the year. The Committee has taken reports containing details of work completed and work pending from staff on regular basis. Implementation of surprise checks and various check lists have increased efficiency of the staff. We place on record our appreciation to the members of this Committee as well as to our office staff who were instrumental in smooth functioning of the activities of the association & service provided to the members of the association.

11. DDQ Compilation Committee

This Committee undertakes the task of publishing gist of DDQ orders in the Sales Tax Review and preparing and publishing the compilation of orders on calendar year basis. The Committee headed by the President Dr. Shashank Dhond as Chairman and Shri Dilip Nathani as the Convenor, have taken great efforts in preparing the gist of DDQ and published in Sales Tax Review throughout the financial year for the benefits of the members of the Association.

Prashant Vora Convenor

Dr. Shashank Dhond

Chairman

Dilip Nathani Convenor

Dr. Shashank Dhond Chairman

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12. Mega Guidance Cell Committee

Under the Chairmanship of president Dr. Shashank Dhond and convenorship of Shri Dattatray V. Phad 4 Guidance Cell Meetings were conducted during the year 2016-17. Queries raised by the participant members were answered by the Departmental authorities in detail and expressed their views and experience on the subject matter. Inaugural Mega Guidance Cell Meeting was inaugurated by Shri Subhash G. Morale, Addl. Commissioner of Sales Tax on 10th of August 2016.

The details of Mega Guidance Cell Meetings held during the period.

Sr. No.

Date Subject Speaker

1 10th August 2016

Amnesty under Profession Tax Act

Shri Subhash G. Morale Addl. Commissioner of Sales Tax

Shri Pradip Kadu Joint Commissioner of Profession Tax

2 16th September 2016

E-filing under New Automation

Shri Nitin Shaligram Deputy Commissioner Of Sales Tax and his officers

3 6th January 2017

Overview of GST Portal Shri Rajiv Agrawal Senior Vice President of GSTN New Delhi

Shri Rajiv Jalota Hon Commissioner of Sales Tax Maharashtra

Shri L. K. Giri Addl. Commissioner of Sales Tax

4 22nd Feb 2017 E-filing Under New Automation

Shri Nitin Shaligram Deputy Commissioner of sales Tax

Shri Gajanan Khanande Deputy Commissioner Of sales Tax

Dattatray V. Phad

Convenor

Dr. Shashank Dhond

Chairman

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13. Intensive Study Circle Committee We are in the era of welcoming the new law named “Goods

& Services Tax (GST)”. Our members are required to be well equipped with knowledge GST Law along with our normal study on Maharashtra Value Added tax, Central Sales tax and other allied laws.

We all are aware about the practical difficulties we face while applying the rules and procedures of the different Acts during our discussion with the clients or during the assessments proceedings. With the view to update our fellow members on the latest development in law and to discuss the practical issues arising there from, our association has been regularly conducting Intensive Study Circle meetings. The Intensive Study Circle, is designed to enable the members to study and discuss various issues on Indirect Tax Laws such as GST Law, MVAT, Central Sales Tax, Service Tax and such other allied laws.

At the intensive Study Circle, one of the members acts as a group leader and leads the discussion on issues of the relevant subject and one of the senior in the profession, monitors the discussion,. The meetings are generally arranged on 1st and 3rd Saturday of the month (working Saturdays of Sales Tax department), during 10.30 a.m. to 1.00 p.m. at Mazgaon Library. However, this time we have scheduled some meetings of intensive study circle even in week days, to provide benefit of more meetings and more discussion on subjects, in the intensive.

The Intensive Study Circle was inaugurated on auspicious day of first day of Navratri i.e., on Saturday, 1st day of October, 2016 at Mazgaon Library by the hands of Adv. Shri C. B. Thakar, where he has also acted as the Monitor of the first session.

The Intensive Study Circle committee was headed by our Secretary Shri Dinesh Tambde as a Chairman with the Joint Convenors Bhaven Mehta and Ajay Talreja. Total 15 meetings were held starting from 1st October 2016 and ending on 17th of June 2017. Total 129 participants had enrolled for the Intensive Study Circle meetings. This time the conveners were in regular touch with the participants through e-mails and messages and were updating them about the meetings. And at the endeavour’s of the convenors, the study materials were mostly made available to the participants in advance before the start of every meeting.

Ajay Talreja Convenor

Bhaven Mehta Convenor

Dinesh Tambde Chairman

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In the last meeting a new concept of “Your Issues – Your Solutions” was introduced where in 5 junior participants took part as Group Leader and 2 senior participants acted as their monitor. All the participants of Intensive Study Circle meeting were divided in 5 groups, and the issues prepared by the group leaders, were discussed with the participants and guided by the monitors. The meeting of it’s own kind was enjoyed by all.

We express our sincere gratitude to all the monitors and group leaders for providing their insights on various provisions under the MVAT Act, CST Act and GST law. We are also thankful to the participants for their enthusiasm and zeal for intense study and interactive meetings.

14. Referencer Committee

The STPAM Referencer on VAT and Allied Laws has become the most referred & preferred book for the tax professionals practicing in Indirect taxes. This Committee is headed by Vice President Shri Pranav Kapadia as the Chairman along with Shri Ashit Shah and Shri Bhaven Mehta as joint Convenors.

This year, the theme of “MOVING AHEAD” is selected to reflect the onset of GST era and also to reflect the change in name of our association to “THE GOODS & SERVICES TAX PRACTITIONERS’ ASSOCIATION OF MAHARASHTRA”. We at GSTPAM are updating our members and providing best knowledge of indirect tax laws in shortest possible time.

In the move of updating the knowledge, this year we have also added new feather to our Referencer pack, by introducing “GST REFERENCER”. We are confident that members will be benefitted by taking the basket of Referencer related to VAT & allied laws and the on-road GST law.

In the Referencer we have also tried to explain various processes of different Acts through use of “Flow Charts”. Our association has completed 66 years of service, a Ray of this is also included in Referencer.

We hope that the members will like the new features introduced in the Referencer vis-a-vis introduction of GST Referencer.

Bhaven Mehta Convenor

Ashit Shah Convenor

Pranav Kapadia Chairman

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66th Annual Report


15. 41st Residential Refresher Course Committee

Residential Refresher Course is always an eagerly awaited programme of the Association because it provides an atmosphere of learning in relaxed environment. This Committee was headed by Past President Shri Sachin Gandhi as Chairman along with Convenor Shri Pravin Shinde. The 41st Residential Refresher Course was held from 9th February 2017 to 12th February, 2017 at Hotel Radisson Blu, Kochi in pleasant environment of Kerala with inflow of knowledge and outflow of ideas with eminent & versatile personalities. In all, 220 participants attended the R.R.C. The details of papers submitted at the said RRC are as under:

Sr. No.

Subject Paper Writer Chairman

1 Valuation & Job Work Provisions under GST Law

CA Dharmen Shah Adv. Vinayak Patkar

2 Place of supply, Interstate supply and supplies in the course of Import & Export under GST regime vis-à-vis CST Act.

Adv. Milind Bhonde CA Sujata Ranganekar

3 Brains’ Trust Session ChairmanTrustees

P. C. JoshiAdv. C. B. ThakkarAdv. Nikita Badheka.CA Rajat Talati

The R.R.C. was Inaugurated by Shri P. C. Joshi Past President GSTPAM. Shri P. C. Joshi delivered Inaugural speech on the subject of “Impact of Demonetization on Indirect Taxes”. In the presence of Hon’ble Justice Mr. Dama Seshadri Naidu, Justice, Kerala High Court, Dr. Shashank Dhond, President of STPAM felicitated our Past President Shri P. C. Joshi. At this junction Justice Mr. Dama Seshadri Naidu, Justice, Kerala High Court gave marvellous speech to delegates. We specially thank Justice Mr. Dama Seshadri Naidu, for sparing his valuable time.

The participants appreciated the excellent presentation of papers by the paper writers, detailed group discussions and Chairmen’s Important remarks. The paper

Pravin Shinde Convenor

Sachin Gandhi Chairman

20


writers painstakingly highlighted the legal provisions, technical interpretation and the issues arising therefrom. The papers evinced keen interest and lively discussion amongst the participants. The Chairmen of the Technical Sessions provided the participants with their in-depth analysis of the provisions and issues and guided the participants on the subjects. The participants also enjoyed sightseeing program and “ValamKalli” a Traditional Boat race of Kerala and later enjoyed sunset cruise. We take this opportunity to thank all participants in this event for participating in large number. We once again thank Chief Guest, Paper Writers, Chairman, Trustee of Brains’ Trust Session, Past presidents, Office Bearer of our association, all Managing Committee Members, Staff of our Association who have made this RRC Successful.

16. International Residential Refresher Course

The 16th International Residential Refresher Course of our association was organized at United States of America under the Chairmanship of Shri Sachin Gandhi and Convenorship of Shri Aalok Mehta from 24th May, 2017 to 8th June, 2017. The International Residential Refresher Course received a good participation of 47 delegates.

The tour was conducted by Club 7 Holidays Limited and all the delegates appreciated the service provided by the tour operator throughout the tour.

17. Workshop on MVAT & Allied Laws Committee

The Workshop on MVAT, Service Tax & Allied Laws started on 21.01.2017 and ended on 24.03.2017. The Workshop is jointly organized by 6 professional Associations viz., AIFTP (WZ), BCAS, CTC, MCTC, STPAM & WIRC of ICAI. There were 201 participants enrolled for the Joint Workshop. The Workshop comprised of 14 Technical sessions with 14 eminent speakers and 4 eminent speakers as Brains’ trustees in the Mega Brains’ Trust Session.

The topics of the workshop were selected to cover in-depth and practical understanding of GST Law. To understand the challenges to be faced in GST Era,

Aalok Mehta Convenor

Sachin Gandhi Chairman

Dharmen Shah Convenor

Pradip Kapadia Chairman

21

66th Annual Report


Pradip Kapadia Convener

Mahesh Madkholkar

(Thane) Jt. Convener

Mayur Parekh Chairman

Dr. Shashank Dhond - Chairman

Industry wise GST Implications and Comparison of Existing Laws vs. GST Model Law sessions were arranged. A special Mega Brains’ Trust Session was arranged at the end of Seminar to seek views from seniors on issues faced by all members with regards to interpretation of law and practical difficulties to be faced during transition issues. We have also included Works Contract under MVAT Act, 2002, CST Act, 1956, Service tax provisions which have always been matter of litigation in the existing laws.

The Committee was headed by Pradip Kapadia, Chairman and Dharmen Shah, Convenor. The Committee would like to acknowledge efforts taken by the various members of the committee and also all the co-ordinators of various sessions of Workshop.

18. Finance & Accounts Committee

The Committee under the Chairmanship of Shri Mayur Parekh with Convenor Pradip Kapadia, Hon. Treasurer along with President Shri Shashank Dhond, Vice President Shri Pranav Kapadia, Jt. Secretaries Shri Raj P. Shah & Shri Dinesh Tambde and Committee Members Shri U. M. Loonawat, R. S. Pathak, Suresh Sanghavi, Sachin Gandhi, Janak Vaghani, V. R. Ghelani, K. M. Shah, N. V. Pachpute, Hiten Shah, and Pravin Shah met at Periodical Intervals to review finance and accounts of the Association. The audited annual accounts for the year ended 31-3-2017 are printed along with this Annual Report. The Committee is thankful to Chairman Shri Mayur Parekh and all the members of Finance Committee for their continuous guidance and constructive suggestions for financial matters and review of accounts.

19. Regional Centres and Outstation Seminars Committee

We take proud privilege to submit our report of above committee for the year 2016-2017.

We are happy to confirm that the basic goal of the activities of the association to enrich the knowledge of our members and of the general public by conducting seminars all over Maharashtra have been triggered.

22


We are thankful to the President and Managing Committee members of STPAM who had extended their positive co-operation by attendance at various seminars.

We are thankful to all the faculties who had extended extreme support by delivering lecture, updating knowledge and providing notes to the participants.

We also feel gratitude about our all participants who had helped us to make each event a grand success.

We solicit our sincere thanks to other associations like MACCIA, AIFTP and Regional taxation bodies who jointly organised seminars with us.

Last but not the least, we solicit our team members of the committees who had worked hard to enrich the level of the committee in the association.

The list of programme held are as follows–

Sr. No.

Date City Joint Participants

1 03/07/2016 Amravati Vidarbha Tax Practitioners’ Association and Tax Bar Association, Amravati

2 04/08/2016 Alibaug Tax Practitioners’ Association, Aurangabad3 26/10/2016 Nashik AIFTP (WZ); MACCIA and Tax Practitioners’

Association, Nashik4 05/11/2016 Thane AIFTP (WZ); Bhiwandi Tax Practitioners’

Association; Tax Friends and Tax Practitioners’ Association, Thane

5 05/11/2016 Malvan (Sindhudurg)

Local Trade Organisations

6 10/12/2016 Nagpur AIFTP (WZ); Vidarbha Tax Practitioners’ Association and Sales Tax Bar Association, Nagpur

7 02/12/2016 Solapur The Income Tax and Sales Tax Practitioners’ Association (Library Trust), Solapur and Solapur Branch of WIRC of ICAI

Rajkumar Bhambare -

Parbhni Jt. Convener

Bhonde M. M. (Pune)

Jt. Convener

23

66th Annual Report


8 03/12/2016 Pandharpur Local Trade Organisations9 28/01/2017 Amravati Vidarbha Tax Practitioners’ Association and

Tax Bar Association, Amravati10 25/02/2017 Nashik Tax Practitioners’ Association, Nashik11 26/02/2017 Nanded Tax Practitioners’ Association, Nanded12 21/05/2017

& 22/05/2017

Sangli Taxation Consultants’ Association, Sangli

13 27/05/2017 Kolhapur Chamber of Tax Consultants, Income Tax Bar Association Kolhapur and Tax Consultants’ Association Kolhapur

14 10/06/2017 & 11/06/2017

Amravati Vidarbha Tax Practitioners’ Association and Tax Bar Association, Amravati

15 03/06/2017, 10/06/2017, 17/06/2017 & 24/06/2017

Thane(Proposed)

AIFTP (WZ); Bhiwandi Tax Practitioners’ Association; Tax Friends and Tax Practitioners’ Association, Thane

16 18/06/2017, 19/06/2017, 20/06/2017, 21/06/2017, 22/06/2017, 26/06/2017

Thane(Proposed)

Tax Practitioners’ Association, Thane

17 28/06/2017 Panvel(Proposed)


18 07/07/2017 & 08/07/2017

Goa(Proposed)

AIFTP (WZ) and Western Maharashtra Tax Practitioners’ Association

19 08/07/2017 Malvan (Sindhudurg)(Proposed)


20 09/07/2017 Kudal (Proposed)


21 15/07/2017 Nashik (Proposed)

Tax Practitioners’ Association, Nashik

24


20. STPAM News Bulletin

Under the Chairmanship of Dr. Shashank Dhond and Joint Convenors Shri Aalok Mehta and Shri Ajay Talreja, the Association has regularly published News Bulletins during the year 2016-17

The News Bulletin is uploaded on GSTPAM website on every month. STPAM News Bulletin contains details of all programmes of the Association during the month, Sales Tax Updates, Service Tax Updates, Short Notes on the recent decisions of the Maharashtra Sales Tax Tribunal, Gist of Important Judgments on Service Tax, Goods and Services Tax update which are contributed on a monthly basis by experts and are useful to the members of the association for getting important info at a glance of the news bulletin.

21. Membership and Subscription (Local) Committee

In current year, Membership Committee was working with dual object. Firstly, to increase the membership by reaching out to members who have not renewed recently and secondly to renew the membership of existing members. During the years, details of members like Communication address, phone numbers have changed. This year, calls have been made to members for updating their details and we have attached Member wise Data Updation Forms mentioning individual details for their confirmation, amendment and approval. These details will then be helpful in reaching out to individual members using mass SMS, e-mails, phone calls which will result in fruitful communication. A scheme for advance memberships for a block of three years has been proposed in case of Ordinary Local and Ordinary Outstation Members.

Ajay Talreja Convenor

Pravin Shinde Convenor


Dharmen Shah Convenor

Dr. Shashank Dhond

Chairman

Dinesh Tambde Chairman

25

66th Annual Report


The committee was headed by Chairman Shri Dinesh Tambde and Joint Convenors Shri Dharmen Shah and Shri Pravin Shinde and well supported by President Dr. Shashank Dhond and Vice-President Pranav Kapadia from time to time. The Committee would also like to acknowledge the efforts taken by the various members of the committee. The efforts of the Convenors and members of committee in past one year has resulted in updation of details of many members resulting in effective communication for renewals/new-memberships.

22. Membership and Subscription (Outstation) Committee

The main object of this committee is to increase the membership strength of the Association

This Committee was headed by President Dr. Shashank Dhond as Chairman and Shri Mahesh Madkholkar, Thane; Shri Mahesh Bafna, Dhule; Shri Satish Boob, Nashik and Shri Rajkumar Bhambare, Parbhani as Joint Convenors.

Many new members were enrolled due to the active efforts made by the Convenors. Appeal for membership was made through the seminar held at various districts. During this year due to Outstation Seminars, the strength of new Members has increased which was great achievement for STPAM. Many members converted their Membership from Ordinary to Life Membership. The object of the Association was accomplished in real sense with the inspiration of the President Dr. Shashank Dhond.

Mahesh Madkholkar

Convenor

Satish Boob Convenor

Rajkumar Bhambare Convenor

Dr. Shashank Dhond

Chairman

Mahesh Bafna Convenor

26


23. Non–Residential Refresher Course Committee

Association had organized 19th Non-Residential Refresher Course during the year in Pune at PYC (Poona Young Cricket Club), Off Bhandarkar Road, Deccan Gymkhana, Pune on 11th & 12th November, 2016 under the Chairmanship of Shri Dr. Shashank Dhond and Convenor Mr. Prashant Vora, which was jointly organized by with AIFTP (WZ) and WMTPA.

The NRRC had total 7 Technical Sessions. Delegates from all parts of India had attended and speakers from all over India have shared their views. It was a grand success and beneficial to all delegates.

24. Publication Committee Act, Rules & Short Publication on Amendments

The Publication Committee undertakes task of providing quality reference material at reasonable price to the members. Under the Chairmanship of President Dr. Shashank Dhond and Convenorship of Parth Badheka, short publication on ‘Transitional Provisions under GST’ was released which was compiled by Parth Badheka and Aditya Surte.

25. Sports Committee

Under the Chairmanship of Pradip Kapadia and Convenor Aalok Mehta, First Indoor Box Cricket Tournament (with Tennis Ball) was organized by our Association jointly with The Chamber of Tax Consultants and The Malad Chamber of Tax Consultants on 4th March, 2017 at The Turf Club, Thakur Village, Kandivali, Mumbai. Our Association won the runners up trophy under the captainship of Dinesh Tambde and he also received the Best Fielder Award. We are thankful to all the members who have participated in this tournament. We are also thankful to The Chamber of Tax Consultant and The Malad Chamber of Tax Consultants for their support in organising this mega event.

Prashant Vora Convenor

Parth Badheka Convenor


Dr. Shashank Dhond

Chairman

Dr. Shashank Dhond

Chairman

Pradip Kapadia Chairman

27

66th Annual Report


26. Tribunal Judgment & Short Notes Committee

Committee was headed by Chairman C. B. Thakar and Joint Convenors Amol Mane and Sonali Bapat. We have checked and made listing of all the judgments from last two years. Chronologically we have started working on the same. We have personally along with seniors like Shri Vijay Sachiv, Shri Vivekand Rao, Shri D. V. Phad, Shri Dhaval Talati, Shri Milind Bhonde, Shri Mahesh Madkholkar, Shri Ashit Shah, Shri G. Y. Patwardhan and Shri Mahesh Bhagwat altogether started to work on it and prepared the gist for the purpose of members at large and to display on the website and to publish in the News Bulletin.

27. Foundation Day & Diwali Get-together

17th November being the Foundation Day of STPAM, was celebrated along with Diwali Get together on 17th November, 2016 at 104, Liabrary, Mazgaon, Mumbai. On this day, Vimal Punmiya gave lecture on Demonetization of Currency.

28. Awards

Sr. Prize for Awardee[s] Judge[s] for selection

01 Best Article writer in STR [April 2016 to March 2017]

CA Aalok Mehta Editor - Smt. Sujata Rangnekar & Associate Editor – Shri Vikram Mehta

02 Best Column Writer in STR [April 2016 to March 2017]

CA Ashit Shah Editor - Smt. Sujata Rangnekar & Associate Editor – Shri Vikram Mehta

03 Best Speaker in Study Circle Meetings

Shri Sachin Gandhi Office Bearers

Sonali Bapat Convenor

Amol Mane Convenor

C. B. Thakar Chairman

28


04 Best Paper Writer in 41st Residential Refresher Course.

Advocate Milind Bhonde

Adv D. H. Joshi & Adv Ratan Samal

05 Best Sportsman Adv Dinesh Tambde CA Pranav Kapadia

06 Rajkumar Adukia Foundation Award for Best Group Leader in Intensive Study Course Meetings.

Shri Mayur Momaya CA Bhaven Mehta

07 Best Convenor Shri Pravin Shinde For RRC and Membership

President: Dr. Shashank Dhond

08 Best Convenor Adv Sunil Khushlani For Library Commite, C o n s t i t u t u o n Amendment & Thane Seminar


09 Best Convenor Adv. Vinod Mhaske & CA Ashit Shah For GST Committee


10 Best Convenor CA Bhaven Mehta President: Dr. Shashank Dhond

11 T.B. Lulla Memorial Fund for best Organizer for Outstation Seminar.

Tax Practitioners Association, Nanded & Tax Practitioners Association Solapur


12 Satishchand Laxmichand Memorial Awards for best pleader before the Mock Tribunal & T. B. Lulla Memorial Fund for best Participant at Moot Court Competition.

Shri Vivek Anand Rao & Shri Mayur Doshi

Convenors: Sunil Joshi & Aditya Surte

13 Dr. Bharat D. Vasani Prize for securing highest percentage of marks in C.A. examination.

-

29

66th Annual Report


14 D. M. Gala Prize for excellence in any field/subject/work as may be decided by the President.

Adv Vinayak Patkar,

Shri Sachin Gandhi

For Support and Guidance throughout the year


15 Best paper Writer At NRRC

Adv Dinesh Tambde Adv Chirag Parekh

29. Obituary

With profound grief we record the sad demise of our members:

1) S. S. Gaitonde

2) T. M. Chhatpar

30. Acknowledgements

The various activities of the Association could not have been carried out without the support of the Members, Institutions, Government Officials and other Individuals. We place on record our sincere gratitude to these individuals and organisations for their support throughout the year.

1. Hon’ble Finance Minister, Shri Sudhir Mungantiwarji for giving us patient hearing on various representations on day-to-day issues.

2. Hon’ble Commissioner of Sales Tax, Shri Rajiv Jalota for giving us patient hearing on various issues from time-to-time and for acceding to our suggestions.

3. Hon’ble President of Maharashtra Sales Tax Tribunal Shri Ashwinikumar Deore for Inaugurating the Study Circle Meeting and addressing the members on the occasion. We are also thankful to Hon’ble President of Maharashtra Sales Tax Tribunal for Inaugurating our Mock tribunal & NRRC at Pune and also for granting Permission to use Bench 1 for Mock Tribunal for the benefit of the students.

4. Hon’ble Members of The Maharashtra Sales Tax Tribunal for their Presence at the Inaugural Study Circle meeting.

30


5. Shri Subhash Morale, Additional Commissioner of Sales Tax for Inaugurating Mega Guidance Cell Meeting.

6. Past President Smt. Sujata Rangnekar for Inaugurating the 31st batch of Coaching Class.

7. All the dept. officials for sharing their views at various Guidance Cell Meetings

8. Shri Vimal Punmiya for delivering talk on the eve of Diwali Get-together and Foundation Day of the Association

9. Shri Dhaval Talati for Inaugurating Orientation Course on GST.

10. Past President Shri P. C. Joshi for Inaugurating the 41th RRC at Kochi.

11. Past President Shri D. H. Joshi for releasing Beginners Book.

12. Past President Shri C. B. Thakar for Inaugurating Intensive Study Course.

13. Special thanks to Judge Dama Seshadri Naidu of Kerala High Court for delivering excellent talk at at 41st RRC Kochi.

14. Special thanks to all our Past Presidents and seniors for providing their guidance, support and co-operation throughout the year for carrying out the various activities of our Association.

15. Members of the Editorial Board of the Sales Tax Review, S/Shri S. S. Gaitonde, P. V. Surte, P. C. Joshi, R. S. Pathak, C. B. Thakar, D. H. Joshi, Vinayak Patkar, Pravin R. Shah, Ashvin A. Acharya and Smt. Nikita Badheka for providing valuable inputs and guidance for bringing out the Sales Tax Review.

16. Editor Smt. Sujata Rangnekar & Associate Editor Shri Vikram Mehta of the Sales Tax Review for F.Y. 2016-17 for rendering their selfless services during the year.

17. All the authors of monthly columns and Contributors of Articles and other Reference materials for the Journal.

18. Shri J. D. Rawal, the Chief Election Officer and other members of the Election Committee S/Shri K. M. Shah, R. J. Gandhi, I. A. Shah, Mayur Parekh, Ashvin Acharya & Vijay Sachiv for accepting and discharging the responsibilities judiciously.

31

66th Annual Report


19. Member-in-charge Shri Mayur Parekh and other members of the Accounts and Finance Committee for their continuous guidance and constructive suggestions for financial matters & preparing and finalising accounts of the STPAM

20. CA Shailesh Ghedhia for co-ordinating meetings with Finance Minister Maharashtra State.

21. Trustees for Brains’ Trust Sessions, Chairmen, Paper Writers, Speakers, Mentors, Group Monitors and Group Leaders, who have readily accepted our invitation to deliver Lecture at various Seminars, Workshops, Coaching Classes, RRC, Orientation Courses and the Intensive Study Course Meetings.

22. Regional Tax Practitioners’ Associations for holding Joint seminars.

23. Office Bearers and Members of Managing Committee of :

• Chamber of Tax Consultants (CTC)

• Bombay Chartered Accountants’ Society (BCAS)

• All India Federation of Tax Practitioners [West Zone]

• The Malad Chamber of Tax Consultants (MCTC)

• Western India Regional Council (WIRC) of ICAI

• Maharashtra Chamber of Commerce, Industry and Agriculture

• Outstation Tax Practitioners’ Associations

• Various Trade Organisations

24. Judges for the various awards for selecting awardees.

25. All Senior Members, Editor and Compilers of the Referencer for checking and compiling the same.

26. Our statutory auditor Sheth Doshi and Associates, Chartered Accountants for Auditing the Accounts of our Association for the year 2016-17.

27. Management of the Hotel Radisson Blu, Kochi for excellent arrangements provided for 41st Residential Refresher Course.

28. Shri Rajesh Bist of Club 7 Holidays Ltd. for excellent arrangement of International Study Tour at USA.

32


29. Management of Navinbhai Thakkar Auditorium, Mumbai for excellent arrangement for Seminars.

30. Management of Dahanukar Hall, Kala Ghoda for excellent arrangement for Full Day Seminar.

31. Printers M/s. Finesse Graphics Pvt. Ltd. for printing of Sales Tax Review, Referencer and RRC Paper and other publications.

32 We also thank all those Individuals and organisations who directly or indirectly helped us in organising various activities of the Association.

33. Our Special thanks to Past Presidents Shri Vinayak Patkar and Shri Sachin Gandhi for helping in organizing various activities of our association and providing guidance from time to time.

34. All Staff Members of the Association for their wholehearted support and co-operation extended throughout the year.

35. Last but not least, the Office Bearers and Managing Committee thank all the members of the STPAM Family for giving opportunity to serve the profession and the professional fraternity and also for their full co-operation.

31. Thanks

We take this opportunity to thank all the members of our Association for their continued encouragement and constructive suggestions as well as for their full support and co-operation which enable us to render better services to our members. However, we sincerely apologise if we have, inadvertently, missed anyone’s name or hurt anyone’s feelings.

We do hope that the efforts put in by this Managing Committee under the experienced leadership of Dr. Shashank S. Dhond were satisfactory and seek your constructive suggestions for further improvement by the incoming team.

Place : Mumbai Dinesh Tambde & Raj ShahDate : 14th June, 2017 Hon. Jt. Secretaries

33

66th Annual Report


Annexure A

Membership Chart

Type of Membership 31-3-2015 31-3-2016 31-3-2017

Donor Members 3 3 3

Patron Members 4 4 4

Life Members 1,037 1,080 1,173

Ordinary Local Members 1,429 1,338 1,270

Ordinary Outstation Members 999 953 894

Total 3,472 3,378 3,344

Life Members Opening : 1080

Less : Deceased during the year : 0

Add : Admission during Year : 93

Balance Life Members as on 31-3-2017 : 1173

34


Annexure B Managing Committee Meeting Attendance

Record During July, 2016 to June, 2017

Name Designation Total Meetings

Meetings attended

Leave of absence

Dr. Shashank S. Dhond President 13 13

Pranav P. Kapadia Vice-President 13 13 _

Pradip R. Kapadia Hon. Treasurer 13 12 1

Dinesh M. Tambde Hon.Jt. Secretary 13 11 2

Raj P. Shah Hon.Jt. Secretary 13 13 _

Vijay M. Sachiv Ex.Off. Member 13 12 1

Sujata Rangnekar Editor, STR 13 _ _

Amol T. Mane Member 13 8 5

Sonali Bapat Member 13 8 5

Parth Badheka Member 13 7 6

Dharmen R. Shah Member 13 11 2

Ishaan V. Patkar Member 13 6 7

Mahesh Madkholkar Member 13 10 3

Aalok K. Mehta Member 13 12 1

Bhaven D. Mehta Member 13 13 _

Pravin V. Shinde Member 13 13 _

Aditya Surte Member 13 9 4

Ashit K. Shah Member 13 10 3

Dilip V. Nathani Member 13 11 2

Sunil G. Khushlani Member 13 9 2

Vinod K. Mhaske Member 13 12 1

Sunil Joshi Member 13 12 1

Co-opted Members

Sachin R. Gandhi Member 13 11 2

Dhaval Talati Member 13 7 6

Milind Bhonde Member 13 3 10

35

66th Annual Report


Report of an Auditor relating to Accounts Audited under sub-section (2) of sections 33 & 34 and Rule 19 of the Bombay Public Trusts Act.

Registration No. F-2522 (BOM)

Name of the Public Trust

The Goods & Services Tax Practitioners’ Association of Maharashtra, Mumbai

For the year ending 31st March, 2017

(a) Whether accounts are maintained regularly and in accordance with the provisions of the Act and the rules;

: YES

(b) Whether receipts and disbursements are properly and correctly shown in the accounts;

: YES

(c) Whether the cash balance and vouchers in the custody of the manager or trustee on the date of audit were in agreement with the accounts;

: YES

(d) Whether all books, deeds, accounts, vouchers or other documents or records required by the auditor were produced before him;

: YES

(e) Whether a register of movable and immovable properties is properly maintained, the changes therein are communicated from time to time to the regional office, and the defects and inaccuracies mentioned in the previous audit report have been duly complied with;

: YES

(f) Whether the manager or trustee or any other person required by the auditor to appear before him did so and furnished the necessary information required by him;

: YES

(g) Whether any property or funds of the Trust were applied for any object or purpose other than the object or purpose of the Trust;

: NO

(h) The amounts of outstandings for more than one year and the amounts written off, if any;

: NIL

(i) Whether tenders were invited for repairs or construction involving expenditure exceeding ` 5,000/-

: YES

(j) Whether any money of the public trust has been invested contrary to the provision, of Section 35;

: NO

(k) Alienations, if any, of the immovable property contrary to the provisions of Section 36 which have come to the notice of the auditor;

: NO

36


(l) All cases of irregular, illegal or improper expenditure, or failure or omission to recover monies or other property belonging to the public trust or of loss or waste of money or other property thereof, and whether such expenditure, failure, omission, loss or waste was caused in consequence of breach of trust or misapplication or any other misconduct on the part of the trustees or any other person while in the management of the trust;

: NO

(m) Whether the budget has been filed in the form provided by rule 16A;

: YES

(n) Whether the maximum and minimum number of the trustees is maintained;

: YES

(o) Whether the meetings are held regularly as provided in such instrument;

: YES

(p) Whether the minute books of the proceedings of the meeting is maintained;

: YES

(q) Whether any of the trustees has any interest in the investment of the trust;

: NO

(r) Whether any of the trustees is a debtor or creditor of the trust; : NO

(s) Whether the irregularities pointed out by the auditors in the accounts of the previous year have been duly complied with by the trustees during the period of audit;

: YES

(t) Any special matter which the auditor may think fit or necessary to bring to the notice of the Deputy or Assistant Charity Commissioner.

: NO

As per our report of even date For Sheth Doshi and Associates Chartered Accountants Firm No. 110052W

B. M. Doshi Place : Mumbai Proprietor Dated : 14.06.2017 Mem. No. 017370

66th Annual Report


37

Audited Statements of Account

and

Balance Sheet

for the period

1-4-2016 to 31-3-2017


38

The Goods & Services Tax Practitioners' The Bombay Public Trusts Rules, 1951.

Balance Sheet


B. M. Doshi Place : Mumbai Proprietor Dated : 14-6-2017 Mem. No. 017370

As at 31-3-2016

`

Funds & Liabilities Sche-dule

Page No.

As at 31-3-2017

`TRUST FUND OR CORPUS :

i) Admission Fees: I 44 1,492,878 Balance as per last Balance Sheet 1,596,078

103,200 Add : Received during the year 153,200 1,749,278 ii) Donor Membership Fees :

23,002 Balance as per last Balance Sheet 23,002 - Add : Received during the year - 23,002

iii) Patron Membership Fees : 26,506 Balance as per last Balance Sheet 26,506

- Add : Received during the year - 26,506 iv) Life Membership Fees : II 44

4,807,301 Balance as per last Balance Sheet 5,257,301 450,000 Add : Received during the year 720,000 5,977,301

v) Employees Provident Fund 76,096

EARMARKED & OTHER FUNDS : 6,291,087 New Office Premises Fund 6,291,087

- Add : Received during the year - 6,291,087

OTHER FUNDS : 1,033,112 i) Felicitation / Memorial and Award Fund IIIA 45 1,091,838

182,802 ii) Library Fund / Other Fund IIIB 45 175,272 1,267,110

2,975,764 GENERAL RESERVE 2,975,764

LIABILITIES : 718,976 For Expenses IVA 46 113,611 757,100 Advances & Deposits IVB 46 1,331,673 1,445,284

INCOME & EXPENDITURE A/C : 9,356,729 Balance as per last Balance Sheet 10,651,660 1,294,931 Add : Surplus/(Deficit) as per Income 863,292 11,514,951

& Expenditure A/c

29,513,388 Total 31,346,379

66th Annual Report


39

Association of MaharashtraSchedule VIII {Vide Rule 17(1)} Registration No. F-2522 (BOM)as at 31st March, 2017

Dr. Shashank Dhond Pranav P. Kapadia Pradip R. Kapadia Dinesh Tambde President Vice-President Hon. Treasurer Raj Shah Hon. Jt. Secretaries

As at 31-3-2016

`

Property & Assets Sche- Dule

Page No. As at 31-3-2017

`

1,641,382 IMMOVABLE PROPERTIES V 47 1,477,244

3,656,882 OTHER FIXED ASSETS VI 47 3,258,770

21,660,000 INVESTMENTS VII 48 23,625,022

50,558 CLOSING STOCK VIII 50 40,769

1,642,210 ADVANCES & DEPOSITS IX 51 1,734,401

CASH & BANK BALANCES :

807,886 SAVING & CURRENT BANK ACCOUNT XA 52 1,132,311

54,470 CASH & COURT FEES STAMPS BALANCES XB 52 77,862

29,513,388 Total 31,346,379


40

The Goods & Services Tax Practitioners' Income and Expenditure Account

Year ended 31-3-2016

`

Expenditure Annexure Page No. Year ended 31-3-2017

` Establishment Expenses :

1,458,653 a) Expenses on Human Resources A 53 1,451,268

b) Administrative Expenses : 89,152 Electricity Charges 108,775 71,641 Telephone Charges B 53 70,917

104,193 Printing & Stationery 137,786 117,999 Postal & Courier Charges 111,330

26,544 Xerox and Printing Charges 28,576 27,378 Conveyance Charges 26,016 48,163 Sundry Expenses 67,076

109,306 Administrative & Contractual Service Charges 406,378 8,605 Prize Distribution Expenses 14,320

18,846 SMS Expenses - General 22,857

c) Professional Fees : 28,197 Legal & Professional Fees – 39,620 28,625 Audit Fees 28,750 44,456 d) Repairs & Maintenance Charges 181,808

e) Financial Charges : 3,635 Bank Charges 12,410

f) Expenditure in respect of Property : 42,916 Society Charges (Mazgaon Tower) 41,607 34,520 Library Expenses (Mazgaon Library) -

342,379 Library Repairs (Bandra Library) 1,820 3,791 Insurance Charges 4,109

Mazgaon Tower Repairs 209,570

Expenditure on the Objects of the Association :Educational Expenses :

1,237,527 i Journal (Sales Tax Review) C 54 1,344,850 ii Publications :

157,569 Own Publications D 55 208,229 77,986 Other Publications DI 55 78,236

1,640,013 iii Referencer Printing Charges E 56 1,955,712 86,606 iv Study Circle Meetings 91,501

160,595 v Library Expenses F 57 137,698 23,815 vi News Bulletin 11,250

5,993,110 c/f Total 6,792,469

66th Annual Report


41

Association of Maharashtrafor the year ended 31st March, 2017


`

Income Annexure Page No.


` 3,198,250 Membership Fees M 68 3,066,500

Income From Investments : 240,000 a) Interest on Company Deposits and

Bonds1,33,872

1,730,402 b) Interest on Bank Fixed Deposits - BOI 15,15,010Interest on Bank Fixed Deposits - SBI 1,48,035

1,970,402 Total 17,96,917Less:-i) Trans. To Felicitation/

79,294 Memorial and Award Fund. 82,649 14,438 ii) Trans to Library Fund 14,624

1,876,670 Total 97,273 1,699,644

13,069 c) Interest on I.Tax Refund 13,891

i. Income From Educational Activities : 814,979 Journal (Sales Tax Review) C 54 785,986

ii. Income from Sale of Publications : 183,708 a) Sale of Own Publications D 55 242,535 101,638 b) Sale of Other Publications DI 55 101,348

1,673,390 c) Publication of Referencer E 56 1,943,086

iii. Income from Refresher Courses & Seminars :

2,735,985 a) 40th Residential Refresher Courser at Amritsar

305,500 b) Full Day Seminar on 14.12.2015 at Navin Thakkar Auditorium

105,500 c) Specialised Course on Service Tax - 2014-15

d) Full Day Seminar on 28.04.2016 at Navin Thakkar Auditorium

GI 58 775,800

e) Full Day Seminar on 11.05.2016 at Kala Ghoda

GII 59 315,200

f) 2 Full Day Seminar - 22rd & 23rd Oct 2016 at Navin Thakkar Auditorium

GIII 60 1,094,704

g) 41st Residential Refresher Course at Kochi

L 67 2,789,061

11,008,689 Total 12,827,755


42

The Goods & Services Tax Practitioners' Income and Expenditure Account




`

Expenditure Annexure Page No.


` 5,993,110 b/f 6,792,469

vii Expenditure on Refresher Courses & Seminars : 2,560,914 a) 40th Residential Refresher Course At Amritsar

295,116 b) Full Day Seminar on 14.12.2015 at Navin Thakkar Auditorium

c) Full Day Seminar on 28.04.2016 at Navin Thakkar Auditorium

GI 58 530,412

d) Full Day Seminar on 11.05.2016 at Kala Ghoda GII 59 224,256 e) 2 Full Day Seminar - 22nd & 23rd Oct 2016 at Navin

Thakkar AuditoriumGIII 60 914,987

49,948 g) Specialised Course on Service tax 2014-15 - h) 41st Residential Refresher Course at Kochi L 67 2,637,107

17,673 viii) Outstation Seminar 33,188 ix) Expenditure on other Educational Activities :

28,842 a) 29th Batch of Coaching Class - 2014-15 49,645 b) 30th Batch of Coaching Class - 2015-16 - 12,529 c) Intensive Study Course - 2014-15 16,990 d) Intensive Study Course - Service Tax - 2015-16 54,102 e) Intensive Study Course - 2015-16 -

f) Intensive Study Course - 2016-17 H 64 56,224 g) 31st Batch of Coaching Class 16-17 I 65 127,859 h) Orientation Course on Model GST Law 2016-17 J 65 38,200 Social Events :a) Triangular Box Cricket Tournament 2016-17 K 66 12,030

25,021 b) Foundation Day Celebration and Diwali Get-to-gether 14,759 30,891 c) AGM Meeting Expenses 59,600

d) SGM Meeting Expenses 9,511 190,773 e) Election Expenses 145,819

13,857 f) Mega Guidance Cell 25,415 75,607 g) Committee Meetings 62,543 34,224 h) Website Expenses 61,037

2,288 i) Interest - Service Tax 5,870 j) Interest on TDS 4,940 k) T.D.S. PAID A.Y. 2008-09 3,410 l) T.D.S. PAID A.Y. 2010-11 960 m) T.D.S. PAID A.Y. 2011-12 3,060 n) TDS PAID A.Y. 2013-14 250

689,071 o) Depreciation 646,367 12,410,273

1,294,931 Excess of Income over Expenditure 863,292 11,435,532 Total 13,273,565

66th Annual Report


43

Association of Maharashtrafor the year ended 31st March, 2017

Note : Previous years figures have been re-grouped/re-arranged wherever found necessary.


`

Income Annexure Page No.


` 11,008,689 b/f 12,827,755

Surplus from Seminar Jointly held 30,852 a) Joint Workshop On MVAT, Service Tax & Allied

Laws - 2014-2015 9,700 b) Joint Workshop On MVAT, Service Tax & Allied

Laws - 2015-16GIV 61 4,203

31,335 c) Joint Seminar on Real Estate Transactionsd) Joint Workshop on MVAT at Malad 2015-16 GV 62 25,747e) Joint Workshop On GST, MVAT, and Service Tax

2016-17GVI 63 38,266

Income From other Educational Activities : 28,278 a) 29th Batch of Coaching Class - 2014-15 75,700 b) 30th Batch of Coaching Class - 2015-16 46,827 c) Intensive Study Course - 2014-15

101,400 d) Intensive Study Course -2015-16 33,750 e) Intensive Study Course on Service Tax - 2015-16

f) Intensive Study Course 2016-17 H 64 95,627 g) 31st Batch of Coaching Class 2016-17 I 65 148,928 h) Orientation Course on Model GST Law 2016-17 J 65 99,000

39,339 Profit on Sale of Assets -

29,662 Miscellaneous Income 34,039

11,435,532 Total 13,273,565

Dr. Shashank Dhond Pranav P. Kapadia Pradip R. Kapadia Dinesh Tambde President Vice-President Hon. Treasurer Raj Shah Hon. Jt. Secretaries


44

Schedules to Balance Sheet as at 31-3-2017

Schedule I

31.03.2017`

Balance as per last balance sheet 1,596,078

Admission Fees :

Received during the year

1 Life Members Local 46 X 800 = 36,800

Life Members Outstation 8 X 800 = 6,400

2 Ordinary Members Local 125 X 500 = 62,500

Ordinary Members Outstation 95 X 500 = 47,500 153,200

Total 1,749,278

Schedule II

31.03.2017`

Balance as per last balance sheet 5,257,301

Life Membership Fees :

Received during the Year 72 X 10,000 = 720,000 720,000

Total 5,977,301

66th Annual Report


45

Schedule IIIA : Felicitation, Memorial & Awards Funds & Students Prize FundsSr. No.

Name Op. Balance

1-4-2016

Received during

the year

Add Interest

@8%

Less Prize given

Closing Balance

31-3-2017` ` ` ` `

1 Past President Memorial Fund 58,133 - 4,651 2,900 59,883

i) Created out of Association Fund (For Best Speaker in Study Circle Meeting, Best Writer of Article for "Sales Tax Review" and Championship in all Sports activities.)ii) Contribution from Mr.Arvind Thakkar (For Conducting Lecture Series)

122,837 - 9,827 3,405 129,259

2 V. G. Varde & M. S. Sane & K. B. Kayastha Memorial Fund (For Best Article in "Sales Tax Review")

48,990 - 3,919 1,100 51,809

3 Satishchand Laxmichand Memorial Fund (For Best Pleader in Mock Tribunal)

27,001 - 2,160 1,620 27,541

4 M. D. Ranade & R. S. Bapat (Best Paper writer RRC & Best Column Writer in STR)

28,588 - 2,287 1,200 29,676

5 Bharat D. Vasani Prize Fund (For Best Paper Writer in NRRC)

99,970 - 7,998 - 107,967

6 Smt. Bhanuben Vora Education Fund (For securing highest percentage of marks in the M. Com Examination)

27,892 - 2,231 - 30,123

7 Pourana & Gala & Gala Memorial Prize 30,838 - 2,467 - 33,305

i) For securing highest percentage of marks in the B. Com Examinationii) For securing highest marks in the paper of Accountancy in the B.Com. Examination

8 Bharat D. Vasani Prize Fund(For C.A.- Final Exam. )

69,456 - 5,556 3,000 72,012

9 T.B.Lulla Memorial Prize Fund(For Best Participant of Moot Court Competition)

143,160 - 11,453 - 154,612

10 T.B.Lulla Memorial Prize Fund(for Best Outstation Seminar)

125,754 - 10,060 2,600 133,215

11 D. M. Gala Prize Fund 98,315 - 7,865 5,898 100,282

12 Other Funds (Combined) 152,179 - 12,174 2,200 162,154

Total (A) 1,033,112 - 82,649 23,923 1,091,838

Schedule III BSr. No.

Name Op. Balance

1-4-2016

Received during the

year

Add Interest

@8%

Less Books

Purchase

Closing Balance

31-3-2017` ` ` ` `

1 Library Fund (B) 182,802 - 14,624 22,154 175,272

Total (A + B) 1,215,914 - 97,273 46,077 1,267,110


46

Schedule IV : Liabilities

Schedule IVA : Liabilities for Expenses

Sr. No.

Particulars 31-3-2017 31-3-2016

` `1 Sheth Doshi & Associates (Audit & Professional Charges) 31,500 31,350 2 Outstanding Telephone Charges 6,212 8,022 3 Outstanding Exp Website Maintenance Charges 2,950 2,577 4 Outstanding Creditors for Electricity (Mazgaon Tower & Library) 5,000 11,112 5 Provision for TDS 3,288 3,286 6 Provision for Swachh Bharat Cess 2015-16 - 90 7 Provision for Swachh Bharat Cess 2016-17 5,444 - 8 Provision for Moot Tribunal 2015-16 (Coaching Class) - 18,786 9 Refund for 40th RRC at Amritsar - 136,165 10 Staff Leave Encashment 2015-16 - 47,315 11 Staff Leave Encashment 59,217 - 12 Jt.Workshop on MVAT, Service Tax Allied Law 2015-16 - 9,701 13 Shandar Interior Pvt. Ltd. - Library Renovation - 450,572

Total 113,611 718,976

Schedule IVB : Liabilities for Advances & Deposits Received

Sr. No.

Particulars 31-3-2017 31-3-2016

` `1 Deposit for Lockers - 73,125 2 Advance Service Charges 174,900 78,600 3 Advance Subscription 139,000 65,000 4 Advance Membership Fees (Outstation) 285,000 253,750 5 Advance Membership Fees (Local) 698,000 271,500 6 Intensive Study Course 2016-17 34,773 - 7 Receipt - Workshop 2015-16 - 15,125

Total 1,331,673 757,100

66th Annual Report


47

Fixed Assets

Schedule V : Immovable Properties

Particulars of Assets WDV as on 1-4-2016

Addition Deduction during the

year

Total Rate of depre-ciation

%

Depreciation up to

31-3-2017

Balance as on

31-3-2017on or before

30-9-2016on or after 1-10-2016

` ` ` ` ` ` ` Òffice Premises (A) 1,641,382 - - - 1,641,382 10% 164,138 1,477,244

Schedule VI : Other Fixed AssetsFurniture & Fixtures 1,916,739 - - 1,916,739 10% 191,674 1,725,065 (Mazgaon Library)Furniture & Fixtures - (Office) 178,414 - - 178,414 10% 17,841 160,572 Furniture & Fixtures - 519,656 - - 519,656 10% 51,966 467,690 (Bandra Library)Electric Fittings 146,283 - - 146,283 15% 21,942 124,341 Air Conditioners (Maz.Tower) 20,294 - - - 20,294 15% 3,044 17,250 Air Conditioners (Maz. Library) 301,408 - - - 301,408 15% 45,211 256,197 EPBX System (Maz. Tower) 1,520 - - - 1,520 15% 228 1,292 EPBX System (Maz. Library) 15,083 - - 15,083 15% 2,262 12,821 Amplifier & Loudspeaker 36,632 - - 36,632 15% 5,495 31,137 Water Cooler 17,001 - - 17,001 15% 2,550 14,451 Water Purifier (Maz.Library) 11,084 - - 11,084 15% 1,663 9,421 Water Purifier (Maz. Tower) - 8,990 - 8,990 15% 674 8,316 Computer & Accessories 58,512 30,500 25,500 - 114,512 60% 61,057 53,455 Signage Boards(Maz.Library ) 143,197 3,938 - - 147,135 10% 14,714 132,422 Camera 3,408 - - - 3,408 15% 511 2,896 CCTV Camera (Maz.Tower) 14,259 - - - 14,259 15% 2,139 12,120 CCTV Camera (Maz.Library) 60,963 - - - 60,963 15% 9,144 51,818 Cleaning Machine 671 - - - 671 15% 101 570 Fax Machine 3,045 - - - 3,045 15% 457 2,589 LCD Projector 40,859 - - - 40,859 15% 6,129 34,730 Software Package 1 - - - 1 60% 1 Mass E-Mail Software 1 - - - 1 60% 1 Mass SMS Software 1 - - - 1 60% 1 Account Software Package 642 - - - 642 60% 385 257 Attendance Recording 10,399 15,188 - - 25,587 15% 3,838 21,749 System Web Site 156,810 - - 156,810 25% 39,203 117,608

(B) 3,656,882 49,626 34,490 - 3,740,998 482,229 3,258,770

Total (A + B) 5,298,264 49,626 34,490 - 5,382,380 646,367 4,736,014


48

Sr.

No.

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1-4-20

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The P

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Up To

31

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20.10

.2016

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- 13

3,872

-

17,26

7 -

133,8

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A 3,

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38,79

5 -

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133,8

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210

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21.05

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21.05

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1,37

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98

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1,37

0,000

-

17,28

6 -

- -

- -

17,28

6 3

1099

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.05.20

1522

.05.20

16 1,

370,0

00

98,19

3 1,

370,0

00

- 17

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- -

- -

- 17

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411

002

23.05

.2015

23.05

.2016

600,0

00

42,87

2 60

0,000

-

7,86

3 -

- -

- -

7,86

3 5

1100

425

.05.20

1525

.05.20

16 72

0,000

51

,134

720,0

00

- 9,

785

- -

- -

- 9,

785

611

005

25.05

.2015

25.05

.2016

450,0

00

31,95

8 45

0,000

-

6,11

6 -

- -

- -

6,11

6 7

1100

625

.05.20

1525

.05.20

16 55

0,000

39

,060

550,0

00

- 7,

475

- -

- -

- 7,

475

811

018

27.05

.2015

27.05

.2016

500,0

00

35,29

2 50

0,000

-

7,03

7 -

- -

- -

7,03

7 9

1101

927

.05.20

1527

.05.20

16 50

0,000

35

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500,0

00

- 7,

037

- -

- -

- 7,

037

1011

021

28.05

.2015

28.05

.2016

500,0

00

35,18

2 50

0,000

-

7,41

6 -

- -

- -

7,41

6 11

1102

228

.05.20

1528

.05.20

16 50

0,000

35

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500,0

00

- 7,

416

- -

- -

- 7,

416

1211

160

01.07

.2015

01.07

.2016

550,0

00

34,47

5 55

0,000

-

14,09

6 -

- -

- -

14,09

6 13

1116

101

.07.20

1501

.07.20

16 55

0,000

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550,0

00

- 14

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- -

- -

- 14

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1411

162

01.07

.2015

01.07

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650,0

00

40,74

3 65

0,000

-

16,65

9 -

- -

- -

16,65

9 15

1116

301

.07.20

1501

.07.20

16 65

0,000

40

,743

650,0

00

- 16

,659

- -

- -

- 16

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1609

200

07.04

.2014

07.04

.2017

650,0

00

116,0

73

- -

- -

71,71

8 65

0,000

-

187,7

91

837,7

91

71,71

8 17

0929

125

.04.20

1425

.04.20

17 50

0,000

87

,011

- -

- -

54,95

4 50

0,000

-

141,9

65

641,9

65

54,95

4 18

0929

225

.04.20

1425

.04.20

17 50

0,000

87

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- -

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54,95

5 50

0,000

-

141,9

65

641,9

65

54,95

5 19

0400

712

.08.20

1513

.08.20

16 40

0,000

20

,832

400,0

00

- 14

,655

- -

- -

- 14

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2004

008

12.08

.2015

13.08

.2016

400,0

00

20,83

2 40

0,000

-

14,65

5 -

- -

- -

14,65

5 21

1135

920

.08.20

1520

.08.20

16 60

0,000

30

,253

600,0

00

- 22

,177

- -

- -

- 22

,177

2211

360

20.08

.2015

20.08

.2016

600,0

00

30,25

3 60

0,000

-

22,17

7 -

- -

- -

22,17

7 23

0401

603

.09.20

1504

.09.20

16 25

0,000

11

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250,0

00

- 9,

524

- -

- -

- 9,

524

2411

497

15.09

.2015

15.09

.2016

200,0

00

8,72

6 20

0,000

-

7,85

4 -

- -

- -

7,85

4 25

1161

207

.10.20

1507

.10.20

16 30

0,000

11

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300,0

00

12,64

2 -

- -

- -

12,64

2 26

1169

328

.10.20

1528

.10.20

16 20

0,000

6,

636

200,0

00

9,32

0 -

- -

- -

9,32

0 27

1214

714

.03.20

1614

.03.20

17 3,

000,0

00

10,00

8 3,

000,0

00

215,0

60

- -

- -

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5,060

28

1214

814

.03.20

1614

.03.20

17 60

0,000

2,

002

600,0

00

43,01

2 -

- -

- -

43,01

2 29

1218

622

.03.20

1622

.03.20

17 50

0,000

88

3 50

0,000

36

,628

- -

- -

- 36

,628

3012

187

22.03

.2016

22.03

.2017

500,0

00

883

500,0

00

36,62

8 -

- -

- -

36,62

8 31

1218

622

.03.20

1722

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18 53

7,511

91

0 53

7,511

91

0 53

8,421

91

0

Sch

edu

le V

II :

In

vest

men

ts

66th Annual Report


49

3212

187

22.03

.2017

22.03

.2018

537,5

11

910

537,5

11

910

538,4

21

910

3341

2230

.05.20

1631

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31

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31,19

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31

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3441

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31

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31,19

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31

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3541

2430

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0,000

31

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500,0

00

31,19

2 53

1,192

31

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3641

2530

.05.20

1631

.05.20

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0,000

49

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800,0

00

49,90

8 84

9,908

49

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3741

2630

.05.20

1631

.05.20

17 50

0,000

31

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500,0

00

31,19

2 53

1,192

31

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3841

2730

.05.20

1631

.05.20

17 60

0,000

37

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600,0

00

37,43

1 63

7,431

37

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3941

2830

.05.20

1631

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17 1,

500,0

00

93,57

7 1,

500,0

00

93,57

7 1,

593,5

77

93,57

7 40

4129

30.05

.2016

31.05

.2017

1,50

0,000

93

,577

1,50

0,000

93

,577

1,59

3,577

93

,577

4141

3030

.05.20

1631

.05.20

17 70

0,000

43

,669

700,0

00

43,66

9 74

3,669

43

,669

4241

3130

.05.20

1631

.05.20

17 60

0,000

37

,431

600,0

00

37,43

1 63

7,431

37

,431

4341

3230

.05.20

1631

.05.20

17 60

0,000

37

,431

600,0

00

37,43

1 63

7,431

37

,431

4441

3330

.05.20

1631

.05.20

17 60

0,000

37

,431

600,0

00

37,43

1 8

37,43

1 45

4134

30.05

.2016

31.05

.2017

600,0

00

37,43

1 60

0,000

37

,431

637,4

31

37,43

1 46

1269

229

.09.20

1629

.09.20

17 70

0,000

26

,068

700,0

00

26,06

8 72

6,068

26

,068

4712

694

29.09

.2016

29.09

.2017

500,0

00

18,62

0 50

0,000

18

,620

518,6

20

18,62

0 48

1269

529

.09.20

1629

.09.20

17 50

0,000

18

,620

500,0

00

18,62

0 51

8,620

18

,620

4912

696

29.09

.2016

29.09

.2017

500,0

00

18,62

0 50

0,000

18

,620

518,6

20

18,62

0 50

1269

729

.09.20

1629

.09.20

17 50

0,000

18

,620

500,0

00

18,62

0 51

8,620

18

,620

5110

6319

.10.20

1627

.01.20

17 2,

000,0

00

2,00

0,000

36

,986

- -

- -

36,98

6 52

1311

930

.03.20

1730

.03.20

18 70

0,000

13

2 70

0,000

13

2 70

0,132

13

2 53

1312

131

.03.20

1731

.03.20

18 1,

000,0

00

- 1,

000,0

00

- 1,

000,0

00

- 54

1312

231

.03.20

1731

.03.20

18 1,

000,0

00

- 1,

000,0

00

- 1,

000,0

00

- 55

1312

331

.03.20

1731

.03.20

18 1,

000,0

00

- 1,

000,0

00

- 1,

000,0

00

- B

18

,660,0

00

1,09

7,295

18

,975,0

22

19,01

0,000

-

638,2

29

876,7

81

18,62

5,022

-

1,16

6,875

19

,154,4

74

1,51

5,010

IN

VEST

MENT

IN B

ANK

DEPO

SITS,

WIT

H ST

ATE B

ANK

OF IN

DIA

5636

1839

5743

017

.10.20

1617

.02.20

18 50

0,000

14

,984

500,0

00

1,66

5 14

,984

514,9

84

16,64

9 57

2618

3975

562

17.10

.2016

17.02

.2018

500,0

00

14,98

4 50

0,000

1,

665

14,98

4 51

4,984

16

,649

5836

1839

8332

417

.10.20

1617

.02.20

18 50

0,000

14

,984

500,0

00

1,66

5 14

,984

514,9

84

16,64

9 59

3618

3985

015

17.10

.2016

17.02

.2018

500,0

00

14,98

4 50

0,000

1,

665

14,98

4 51

4,984

16

,649

6036

1840

7298

817

.10.20

1617

.02.20

18 50

0,000

14

,984

500,0

00

1,66

5 14

,984

514,9

84

16,64

9 61

3642

9982

176

17.11

.2016

17.03

.2018

1,00

0,000

23

,324

1,00

0,000

2,

592

23,32

4 1,

023,3

24

25,91

6 62

3642

9965

138

17.11

.2016

17.03

.2018

1,00

0,000

23

,324

1,00

0,000

2,

592

23,32

4 1,

023,3

24

25,91

6 63

3642

9983

419

17.11

.2016

17.03

.2018

500,0

00

11,66

2 50

0,000

1,

296

11,66

2 51

1,662

12

,958

C -

- 5,

000,0

00

- -

- 13

3,230

5,

000,0

00

14,80

5 13

3,230

5,

133,2

30

148,0

35

TOTA

L A+

B+C

21,66

0,000

1,

136,0

90

23,97

5,022

19

,010,0

00

- 77

2,101

1,

010,0

11

23,62

5,022

32

,072

1,30

0,105

24

,287,7

04

1,79

6,917

CLOS

ING

BALA

NCES

OF

PRIN

CIPA

L AM

OUNT

AC

CRUE

D IN

TERE

ST

IN

TERE

ST R

ECEI

VED

A GO

I AXI

S B

ANK

BOND

S

0

A

- A

INTE

REST

ON

GOI A

XIS

BANK

BON

DS

133

,872

B

BANK

OF

INDI

A FD

1

8,62

5,02

2

B

1,1

66,8

75

B B

ANK

OF IN

DIA

1

,515

,010

C

STAT

E BA

NK O

F IN

DIA

5,0

00,0

00

C

133,

230

C

STAT

E BA

NK O

F IN

DIA

14

8,03

5

TOTA

L IN

VEST

MEN

T 2

3,62

5,02

2

1,3

00,1

05

TOTA

L IN

TERE

ST IN

COM

E 1

,796

,917


50

Schedule VIII : Closing Stock As On 31-3-2017

Sr. No

Particulars Opening Stock

Sale QTY

QuantityMazgaon

Tower

QuantityMazgaonCounter

QuantityBandraCounter

Total Rate Closing Stock Value

` ÒWN PUBLICATION

1 Compilation of MVAT Rule C.D 305 0 300 5 0 305 0 1 2 Compilation of Gazette & Notification CD 152 0 152 0 0 152 0.00 1 3 C.J. (CD) New 55 6 49 0 0 49 84 4,116 4 Letter of Authority 11250 502 10500 0 248 10748 0.41 4,407 5 Circular & DDQ CD - 2011 215 0 215 0 215 0 1 6 DDQ CD - 2012 146 0 146 0 0 146 0 1 7 DDQ CD - 2013 2 0 0 2 0 2 0 1 8 37th RRC Papers (Hyderabad) 1 0 1 0 0 1 0 1 9 38th RRC Paper (Jaipur) 53 0 28 25 0 53 0 1 10 39th RRC Paper (New Delhi) 35 0 35 0 0 35 0 1 11 40th RRC Paper (Amritsar) 53 23 30 0 0 30 0 - 12 40th RRC Queries Paper (Amritsar) 48 0 48 0 0 48 0 1 13 Recent Amendments (2013) 22 0 13 9 0 22 0 1 14 Beginners Book - 2013-14 190 8 154 15 13 182 0 1 15 Beginners Book - 2014-15 5 1 4 0 0 4 0 1 16 17th NRRC 1 0 1 0 0 1 0 1 17 MSTT Digest 2009-14 100 50 25 25 0 50 286.98 14,349 18 Seminar Booklet-14.12.2015 7 0 7 0 0 7 0 - 19 Short Publication - LBT 188 0 188 0 0 188 0 1 20 Short Publication - Service Tax 116 45 10 61 0 71 27.77 1,972 21 18th NRRC 21 0 0 21 0 21 - 22 Table Referencers 2015-16 216 211 186 613 0 - 23 Pocket Referencers 2015-16 660 20 40 720 0 - 24 Seminar Booklet-11.05.2016 0 41 0 41 145.31 5,958 25 Seminar Booklet-28.04.2016 3 0 0 3 84.4 253 26 Seminar Booklet 22nd & 23rd Oct 225/- 3 0 0 3 217.45 652 27 Seminar Booklet 22nd & 23rd Oct 150/- 32 0 0 32 103.77 3,321 28 Table Referencers 2016-17 58 171 146 375 308.48 1 29 Pocket Referencers 2016-17 1 13 54 68 84.40 1 30 41st RRC Paper 250/- 0 0 43 43 133.33 5,733

12,965 635 12,879 619 730 14,228 1,476 40,769 Other Publication

1 AIFTP - 2-Day National Tax Conference 0 0 0 0 0 0 0 - 2 V.G. Mehta Ready Reckoner 0 0 0 0 0 0 0 - 3 Law Times MVAT Act 0 0 0 0 0 0 0 - 4 NBC Central Budget 0 0 0 0 0 0 0 - 5 NBC CST Acts 0 0 0 0 0 0 0 - 6 NBC Entry Good Act 0 0 0 0 0 0 0 - 7 NBC Entry of motor vehicle 0 0 0 0 0 0 0 - 8 NBC GST bill 0 0 0 0 0 0 0 - 9 NBC Luxuries Act 0 0 0 0 0 0 0 - 10 NBC Module GST Act 2016 0 0 0 0 0 0 0 - 11 NBC Module GST Law 0 0 0 0 0 0 0 - 12 NBC M-VAT Act 0 0 0 0 0 0 0 - 13 NBC M-VAT Act Marathi 0 0 0 0 0 0 0 - 14 NBC PT 0 0 0 0 0 0 0 - 15 NBC Stamp Act & Rules 0 0 0 0 0 0 0 - 16 The Indian Partnership Act 0 0 0 0 0 0 0 -

0 0 0 0 0 0 0 - Total 40,769

66th Annual Report


51

Sr. No.

Particulars 31-3-2017 `

31-3-2016 `

1 BEST Deposit 17,610 17,610

2 G.P.O. Deposit 22,174 22,174

3 MTNL (Telephone Deposit) 24,591 24,591

4 TDS On Interest Income 83,712 294,879

5 Accrued Interest Receivable 1,300,105 1,136,089

6 Service Tax 2015-16 (CENVAT) 82,041 33,411

7 Prepaid Expenses for SMS 46,608 275

8 Prepaid Expenses for Repairs and Renewals - 27,066

9 40th RRC – Kinjal Foods - 19,000

10 40th RRC – IRCTC - Refund Receivable 8,479 35,615

11 Receivable from Club7 Holidays (Advertisement Charges)

- 31,500

12 LIC of India (Group Gratuity surrender value) 149,081

Total 1,734,401 1,642,210

Schedule IX : Advances, Receivable and Deposits (Assets)


52

Schedule X : Cash & Bank Balances

Schedule XA : Saving & Current Bank A/c

31-3-2017

`

31-3-2016

`

1 With Bank of India – Mazgaon Branch - C/A No. – 1816 886,499 592,350

2 With Bank of India – Mazgaon Branch - C/A No. – 1817 129,081 114,208

3 With Bank of India – Mazgaon Branch - S/B A/C No. – 22635 106,364 101,328

4 With State Bank of India – Mazgaon Branch – C/A No. - 36138179257

10,368 -

Total 1,132,311 807,886

Schedule XB : Cash and Court Fee Stamps Balances

31-3-2016

`

31-3-2015

`

1 Cash on Hand 35,862 17,470

2 Court Fee Stamps 42,000 37,000

Total 77,862 54,470

66th Annual Report


53

Annexure B : Telephone Charges


31-3-2016 `

1 Mazgaon Tower 38,708 41,917

2 Mazgaon Library 27,936 25,765

3 Bandra Library 4,273 3,959

Total 70,917 71,641

The Goods & Services Tax Practitioners' Association of Maharashtra

Annexure A : Expenses on Human Resources


31-3-2016 `

1 Salaries 951,113 922,020

2 Staff Leave Encashments 59,217 216,780

3 Bonus to Staff 58,306 79,085

4 Employers Cont. to P.F. 73,768 76,074

5 Medical Allowance 89,133 79,085

6 Gratuity Paid 180,717 57,561

7 Staff Welfare 39,014 28,048

Total 1,451,268 1,458,653


54

Annexure C : Journal (Sales Tax Review) A/c for the Year Ended 31-3-2017

Year Ended

31-3-2016 `

Expenditure Year Ended 31-3-2017

`

Year Ended 31-3-2016

`

Income Year Ended 31-3-2017

`

1,107,470 Paper & Printing Charges of Journal

1,223,874 401,000 Subscription from 356,000

Non-Members (356 x 1000)

334,800 Subscription Charges for 356,400

130,057 Postal & Courier Charges

120,976 S.T.R. from Life Members (594 x 600)

75,000 Advertisements Receipts 64,500

3,579 Interest on Saving A/c 4,136

with bank

600 Retail Sales 4,950

1,237,527 Total Expenses 1,344,850 814,979 Total Income 785,986

422,548 Excess of Expenses over 558,864

Income

1,237,527 Total 1,344,850 1,237,527 Total 785,986

66th Annual Report


55

Statement of Books as on 31-3-2017

Annexure D

Own Publication A B C D E

Op. Stock`

Purchases`

Sales`

Cl. Stock `

Surplus`

Books & Bulletin A/c 40,875 158,122 200,065 32,248 33,316

CJCD 4,620 - 1,200 4,116 696

Sale of Forms (L. A.) 4,613 - 500 4,407 294

Total 50,108 158,122 201,765 40,770 34,306

Opening Stock A 50,108 Sales C 201,765

Add:- Purchase B 158,122 Add:- Closing Stock D 40,770

208,229 242,535

Surplus 34,306

Total 242,535 242,535

Annexure D-I

Own Publication A B C D E

Op. Stock`

Purchases`

Sales`

Cl. Stock `

Surplus`

New Book Corporation - 22,706 30,208 - 7,502

Law Times Bombay - 4,860 6,480 - 1,620

V.G.Mehta I.T.R.R. 450 25,500 34,600 - 8,650

MCTC - Budget Book - 4,200 4,200 - -

All India Fed. TP (17th Convention) - 20,520 25,860 - 5,340

Total 450 77,786 101,348 - 23,112

Opening Stock A 450 Sales C 101,348

Add:- Purchase B 77,786 Add:- Closing Stock D -

78,236 101,348

Surplus 23,112

Total 101,348 101,348


56

An

nex

ure

E :

Acc

oun

ts f

or R

efer

ence

r 20

16-1

7

Expe

nditu

reAm

ount

`

Inco

me

Amou

nt

`ST

PAM

Ref

eren

cer

STPA

M R

efer

ence

r :—

6045

x30

8.47

= 1

,864

,726

Sa

le75

x30

8.48

= 2

3,13

6 Sa

le18

09x

350

= 6

33,1

50

Sale

3730

x32

0 1

,193

,600

56

14 1

,849

,886

1

,849

,886

Po

cket

Ref

eren

cer

1000

x84

.4=

84,

400

Pock

et R

efer

ence

r :—

Am

ount

pai

d to

Fin

esse

Gra

phic

s Pr

ints

Pvt

. Ltd

. & F

ines

se M

ultim

edia

1,9

49,1

26 S

ale

932

x10

0=

93,

200

1,9

49,1

26

932

93,

200

93,

200

Clos

ing

Stoc

k Re

fere

ncer

SM

S Ch

arge

s 6

,586

Ref

eren

cers

375

x30

8.48

= -

Pock

et R

efer

ence

rs37

5x

308.

48=

- -

1,9

55,7

12

1,9

43,0

86

Com

plim

enta

ry R

efer

ence

r :—

56x

308.

48=

17,

275

Com

plim

enta

ry P

ocke

t Re

fere

ncer

:–0

x0.

00=

- De

ficit

12,

626

Tota

l 1

,955

,712

Tot

al 1

,955

,712

66th Annual Report


57

Annexure F : Details of Library Expenses

Sr. No.


31-3-2016 `

1 Newspapers & Periodicals & STC Online 65,739 63,860

2 Electricity Charges 41,849 67,992

3 Bandra Office Expenses 9,052 7,666

4 Book Binding Charges - -

5 Library Cleaning Charges 13,205 10,300

6 Subscription Membership (IMC) 8,000 3,648

7 Misc. Expenses & Cleaning Materials 918 8,279

138,763 161,745

Less : Sale of Raddi 1,065 1,150

Total 137,698 160,595


58

Annexure GI : Account for full Day Seminar on 28th April, 2016 Navin Thakkar Auditorium, Vile Parle, Mumbai

Expenditure Amount ` Income Amount Àuditorium Charges 64,121 Delegate Fees 481 x 1250 601,250

1 x 1300 1,300 A.C & Electricity Charges 19,590

Non Members 105 x 1650 173,250 Catering Charges 328,185 587 775,800 775,800

Xerox Charges 263

Memento to DelegatesFolder (530 x 15.19) 8,049 Pen (525 x 7.91) 4,154 Writing Pad (544 x 5) 2,720

14,923 14,923

Memento to Speaker 17,100

Photo Charges & Video Shooting 19,925

Printing Charges of BooksThe Goods & Services Tax Act, 2016 (587*84.40)

49,543

SMS Charges 4,428

Misc. Expenses 12,334 530,412 775,800

Surplus 245,388

Total 775,800 Total 775,800

Expenditure Amount ` Income Amount `Cost of Balance Paper 1,097 Sale of Papers 1,200 (13 x 84.40) (10 x 120)Surplus Stock of Papers(Trs to Books & Bulletin A/c) 356 (3 x 84.40) 253

1,453 1,453

66th Annual Report


59

Annexure GII : Account for full Day Seminar on 11th May, 2016 Maharashtra Chamber of Commerce, Kala Ghoda, Mumbai

Expenditure Amount `

Income Amount `

Delegates FeesAuditorium Charges 14,560 (Excluding Service Tax)

Members 194 x 1250 242,500 Catering Charges 130,350

Non Members 38 x 1650 62,700 Xerox Charges 1,200 232 305,200 305,200 Memento to Delegates Advertisement Fees 10,000 Folder (237 x 15.19) 3,600 (DDP Consultancy Pvt Ltd)Pen (237 x 9.63 ) 2,282 Writing Pad (228 x 5) 1,140

7,022 7,022 Closing Stock - Pen 13 x 9.63 125

Memento to Speaker 4,165 Folder 15 x 15.19 227 352

Photo Charges & Video Shooting 17,005 LESS:- Transferred to Printing & Stationery

Printing Charges of Books Pen 13 x 9.63 125 The Goods & Services Tax Act, 2016 (237*145.31)

34,438 Folder 15 x 15.19 227

352 SMS Charges 7,497 Misc. Expenses 8,018

224,256 315,200 Surplus 90,944 Total 315,200 Total 315,200

Expenditure Amount ` Income Amount `

Cost of Balance Paper 12,061 Sale of Papers 7,560 (83 x 145.31) (42 x 180)Surplus Stock of Papers(Trs to Books & Bulletin A/c) 1,457 (41 x 145.31) 5,958

13,518 13,518


60

Annexure GIII : Account for Two full Day Seminar on 22nd & 23rd Oct, 2016 Navin Thakkar Auditorium, Vile Parle, Mumbai

Expenditure Amount `

Income Amount `

Delegate FeesAuditorium Charges 126,470 (Excluding Service Tax)

Members 388 x 2348 911,024 A.C & Electricity Charges 25,709

Non Members 64 x 2870 183,680 Catering Charges 517,500 452 1,094,704 1,094,704 Xerox Charges 432 Kit to DelegatesFolder (Del 452 x 32.916 ) 14,878 Complementary (Del 3 x 32.916) 99 Pen (Del 452 x 10.07) 4,552 Balance of Stationery - Complementary (Del 3 x 10.07) 30 Folder 45 x 32.916 1,481 Writing Pad (Del 452 x 16) 7,232 Pen 45 x 10.07 453 Complementary (Del 3 x 16) 48 Pad 45 x 16.00 720

26,839 26,839 2,654 LESS: Transferred to

Memento to Speaker 9,566 Printing & StationeryFolder 45 x 32.916 1,481

Photo Charges & Video Shooting 37,000 Pen 45 x 10.07 453 Pad 45 x 16.00 720

Printing Charges of Books The Goods & Services Tax Act, 2016

147,735 2,654

GST Law @ 150/- (460 X 103.773)

47,736

Module GST Law @ 225/- (460 X 217.391) 99,999 SMS Charges 11,961 Misc Expenses 11,774

914,987 1,094,704 Surplus 179,717 Total 1,094,704 Total 1,094,704

Expenditure Amount ` Income Amount `Cost of Balance Paper 137,764 Sale of Papers 146,275 (123*103.773) 12,764 (157*250) 39,250 (575*217.391) 125,000 (415*225) 93,375

(91*150) 13,650

Surplus Stock of Papers 3,973 (Trs to Books & Bulletin A/c) 12,484 (32*103.773) 3,321

(3*217.39) 652

150,248 150,248

66th Annual Report


61

An

nex

ure

GIV

: P

rop

orti

onat

e A

ccou

nts

for

Joi

nt

Wor

ksh

op o

n M

vat,

Ser

vice

Tax

an

d A

llie

d L

aws

for

the

year

20

16-1

7

Expe

nditu

reST

PAM

B

CAS

CTC

A

IFTP

M

CTC

WIR

C T

OTA

L In

com

eST

PAM

B

CAS

CTC

C

TC

AIFT

P M

CTC

WIR

C T

OTA

L

Del

egat

e Fe

es M

embe

r

Tea

Bill

/ Sn

acks

2,2

99

- -

- -

2,2

99 D

eleg

ates

(Nos

) 2

4 6

1

4

Fees

Per

Mem

ber

(Exc

. S.

T.)

2,0

00

1,9

91

2,0

00

1,9

91

Xero

x Ch

arge

s 2

85

- -

- -

285

Tot

al F

ees

48,

000

11,

946

2,0

00

7,9

64

Fees

for

F Y

2016

-17

(A)

Mem

ento

to

Spea

ker

270

-

- -

- 2

70 (

2 ou

t 8 L

ectu

res)

12,

000

2,9

87

500

1

,991

1

7,47

8

SMS

Char

ges

- -

- -

- -

Dele

gate

s Fe

es

Non

Mem

bers

Dele

gate

s (N

os)

5

8

4

-

Fees

Per

Mem

ber

(Exc

. S.

T.)

2,5

00

2,4

89

2,4

89

-

Tota

l Fee

s 1

2,50

0 1

9,91

2 9

,956

-

Fees

for

FY 2

016-

17

(B)

(2 o

ut 8

Lec

ture

s) 3

,125

4

,978

2

,489

-

10,

592

Tota

l Exp

ense

s 2

,854

-

- -

- -

2,8

54 T

otal

Inco

me

(A+

B) 1

5,12

5 7

,965

2

,989

1

,991

-

- -

28,

070

Part

icu

lars

ST

PAM

B

CA

S

CT

C

AIF

TP

M

CT

C

WIR

C

Tot

al

No.

of

Del

egat

es 2

9 1

4 9

-

-

-

5

2

Tota

l In

com

e 1

5,12

5 7

,965

4

,980

-

-

-

2

8,07

0

Tota

l E

xpen

ses

2,8

54

-

-

-

-

-

2,8

54

Rec

eiva

ble/

Paya

ble

12,

271

7,9

65

4,9

80

-

25,

216

Sh

are

of T

otal

Su

rplu

s 4

,203

4

,203

4

,203

4

,203

4

,202

4

,202

2

5,21

6

Net

Pay

able

/ R

ecei

vabl

e 8

,068

3

,762

7

77

(4,

203)

(4,

202)

(4,

202)

25,

214

Rou

nd

ing

Off

2

Tota

l 8

,068

3

,762

7

77

(4,

203)

(4,

202)

(4,

202)

25,

216


62

Annexure GV : Proportionate Accounts for Joint Workshop on MVAT at Malad 2016-17 Accounts For the year 2016-17

Expenditure STPAM MCTC TOTAL Income STPAM MCTC TOTAL

Delegate Fees -

Hall Booking Chgs SNDT

- 44,800 44,800 Member - 98

Fees Per Member 1,750

Pen/Pad/Folder - 6,308 6,308 Total Fees 171,500 171,500

Memento to Speaker - 5,523 5,523 Delegates Fees

Non Member - 1

Photographer Exps - 11,000 11,000 Fees Per Member - 2,500

Total Fees 2,500 2,500

Snacks Exps. - 49,770 49,770

Misc. Exps. - 5,106 5,106

SMS Charges - - -

Total Expenses - 122,507 122,507 Total Income - 174,000 174,000

Particulars STPAM MCTC Total

No. of Delegates - 99 99

Total Income - 174,000 174,000

Total Expenses - 122,507 122,507

Receivable/Payable - 51,493 51,493

Share of Total Surplus 25,747 25,747 51,493

Net Payable/ Receivable (25,747) 25,747 -

66th Annual Report


63

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64

Annexure H : Proportionate Accounts for Intensive Study Circle Meeting 2016-17 From 1st October, 2016 to 31st March, 2017

Expenditure Amount Income Amount

Tea Bill / Snacks 39,881 Delegates Fees Received 95,627

(Excluding Service Tax)

11 Lectures out of 15

Members : 110

Xerox Charges 6,346 Fees per Member 1,000

Total Fees 110,000

Memento to Speaker 5,200 Fees for FY 2016-17 80,667

SMS Charges 4,797 Non Members : 17

Fees per Non Member 1,200

Total Fees 20,400

Fees for FY 2016-17 14,960

TOTAL 56,224

Surplus 39,403

Total 95,627 Total 95,627

66th Annual Report


65

Annexure I : Accounts for 31st Batch of Coaching Class 2016-17

Expenditure Amount Income Amount

Tea Bill / Snacks 14,019 Delegates Fees Received

148,928

(Excluding Service Tax)

Xerox Charges 19,401 Members :

82 x 1304 = 106,928

Memento to Speaker 14,307 Non-Members :

21 x 2000 = 42,000

Misc. Charges 30 103 148,928

Photo Charges 3,000

SMS Charges 3,320

Printing books for students 46,000

(Qty 100 x 460)

Printing of Certificates (105 x 42.4)

4,452

Courier Charges 195

Referencer 16-17 Complementary

75 x 308.47 23,135

TOTAL 127,859 148,928

Surplus 21,069

Total 148,928 Total 148,928

Annexure J : Accounts for Orientation Course On Model GST Law 2016-17

Expenditure Amount Income AmountTea Bill / Snacks 29,498 Delegates Fees Received 99,000

Members :Xerox Charges 501 66 X 1500 = 99,000

Non Members :Memento to Speaker 3,500 0 X 0 = -

0 99,000

Misc. ChargesPhoto Charges 1,500 SMS Charges 3,201

TOTAL 38,200 Surplus 60,800 Total 99,000 Total 99,000


66

Annexure K: Accounts for Triangular Box Cricket Tournament 2016-17

Expenditure STPAM MCTC CTC TOTAL Income STPAM MCTC CTC TOTAL

Delegate Fees:

Rent of Ground & Cleaning

20,000 8,400 - 28,400 (Excluding Service Tax )

Food & Others - 26,460 - 26,460

Delegates (Nos.) 22 22 24

Umpire & Scorer - 5,500 - 5,500 Fees per Member 521 600 521

Total Fees 11,462 13,200 12,504 37,166

Banners - - 4,746 4,746

Sale of Food Coupons - 4,000 174 4,174

Trophy 4,131 - - 4,131

Mandap Decorator & Lights

- 3,000 - 3,000

Photographer Charges - - 2,500 2,500

Bat & Balls & Caps - 1,700 - 1,700

Tips/Conveyance/Xerox etc.

- 250 310 560

First Aid & Energy Drink

145 288 433

SMS Charges -

Total Expenses 24,131 45,455 7,844 77,430 Total Income (A + B) 11,462 17,200 12,678 41,340

Particulars STPAM MCTC CTC Total

No. of Delegates 22 22 24 68

Total Income 11,462 17,200 12,678 41,340

Total Expenses 24,131 45,455 7,844 77,430

Receivable/Payable (12,669) (28,255) 4,834 (36,090)

Share of Loss of Each Association (12,030) (12,030) (12,030) (36,090)

Net Payable/ Receivable (639) 16,225) 16,864 -

66th Annual Report


67

Annexure L: Account for 41st RRC at Kochi, between 9th February, 2017 to 12th February, 2017

EXPENDITURE AMOUNT INCOME AMOUNT

Hotel Charges 1,886,759 Delegates Fees (Excluding Service Tax) 2,928,675

Pre-Visit Expenses 48,971 Less :- Refund of Delegates Cancelled 92,958

Less :- Refund of Train Tickets 51,656

Xerox Charges 100 144,614 2,784,061

RRC Misc. Expenses 44,940

RRC Folder , Pen & Writing Pad

SMS Charges 5,616 Folder ( 14 x 42.4 ) 594

Pen ( 14 x 25.5 ) 357

Train Ticket Charges 2,400 Pad ( 24 x 6.50 ) 156

Less : Train Cancelled Receivable from IRTC

- 2,400 Cotton Caps ( 7 x 47.7 ) 334

1,441

Bus Charges 143,630 LESS :- Transferred to Printing & Stationry A/c

Folder ( 14 x 42.4 ) 594

Boat Ticket Charges 40,000 Pen ( 14 x 25.5 ) 357

Pad ( 24 x 6.50 ) 156

Events Charges 398,221 Cotton Caps ( 7 x 47.7 ) 334

1,441

Memento to Chief Guests/Speakers

Pendrive (16 x 636) 10,176 Advertisment 5,000

Trofee 12,774 22,950

RRC Folder , Pen & Writing Pad

& Delegates Mementos

Folder (156 x 42.4) 6,614

Pen (156 x 25.5) 3,978

Pad (156 x 6.50) 1,014

Cotton Caps (233 x 47.7) 11,114 22,721

RRC Paper Printing Charges (156*133.33)

20,800

Total Expenses 2,637,107

Surplus 151,954

2,789,061 2,789,061

Expenditure Amount ` Income Amount `

Cost of Balance Paper 7,200 Sale of Papers 2,750 (54 x 133.33) (11 x 250)Surplus Stock of Papers(Trs to Books & Bulletin A/c) 1,283 (43 x 133.33) 5,733

8,483 8,483


68

ANNEXURE M : ORDINARY MEMBERSHIP FEES

31.03.2017 31.03.2016

` `

Local - Ordinary

` 1500 x 1282 Members 1,921,500

` 1500 x 1338 Members (Prev. Year) 2,007,000

Outstation - Ordinary

` 1250 x 916 Members 1,145,000

` 1250 x 953 Members (Prev. Year) 1,191,250

Total 3,066,500 3,198,250

66th Annual Report


69

The Goods & Services Tax Practitioners' Association of Maharashtra

A. Significant Accounting Policies

Statement of Significant Accounting Policies:

1 Method of Accounting

Accounts are maintained on accrual basis.

2 Fixed Assets and Depreciation

Fixed assets are stated at cost. Depreciation is provided on fixed assets on written down value method as prescribed under the Income Tax Rules.

3 Investments

Investments are stated at cost of acquisition.

4 Inventories

Own Publication issued during the year are valued at cost. Obsolete stock of Compilation of MVAT Rule C.D., Compilation of Gazette & Notification C.D., Circular DDQ CD-2011, DDQ CD - 2012, DDQ CD - 2013, 37th RRC Paper (Hyderabad), 38th RRC Paper (Jaipur), 39th RRC Paper (New Delhi) 40th RRC Queries Paper (Amritsar), Recent Amendments-2013, Beginners Book - 2013-14, Beginners Book - 2014-15, 17th NRRC, Short Publication - LBT, are written off and valued at token value ` 1/-each.

5 Admission Fees, Donor Membership Fees, Patron Membership Fees and Life Membership Fees

All these fees are capitalised and transferred to respective Fees a/c.

6 Previous year figures have been regrouped/ recast wherever necessary.

Signature to Schedules 'I' to 'XB' and Annexure 'A' to ' K '

The Schedules/Annexures referred to above form an integral part of the Balance Sheet as at 31st March, 2017 and Income and Expenditure Account for the year ended 31st March, 2017.

As per our report of even date For Sheth Doshi and Associates (Regd.) Chartered Accountants Firm No. 110052W



70

Speaker of Study Circle

Past President Adv. P. C. Joshi – Speaker addressing the delegates at the Inaugural Study Circle Meeting

3rd August, 2016

Pranav Kapadia Vice President

19th August, 2016 16th September, 2016

Shri Punit Mehta – Speaker addressing members on the

topic of ‘Use of Tally Software in preparing VAT Annexures’

Shri Pramod Kudtarkar – Speaker addressing members on the

topic of ‘Use of Tally Software in preparing GST Annexures’

15th December, 2016

CA Atul Bheda, Speaker addressing members at ‘Arvind Thakkar Memorial Lecture’

Arvind Thakkar Memorial Lecture held on 18th October, 2016

Shri Mukund Chitale Speaker addressing the delegates

Shri Suhas Padhye Speaker addressing the delegates

6th February, 2017

14th June, 2017

Shri Sachin Gandhi

66th Annual Report


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Seen from L-R : S/Shri Jt. Secretary Raj P. Shah, Treasurer Pradip Kapadia, Vice President Pranav Kapadia, President Dr. Shashank Dhond, Deputy Commissioner of Sales Tax Nitin Shaligram, Deputy Commissioner of Sales Tax Gajanan Khanande, Assistant Commissioner of Sales Tax Chandrakant Kumbhare and Sachin Gandhi - Speaker

Mega Guidance Cell held on 6th January, 2017

Seen from left to right: Treasurer Pradip Kapadia; Shri S. G. Morale, Additional Commissioner of Sales Tax; Shri L. K. Giri, Additional Commissioner of Sales Tax; Shri Rajiv Jalota, Commissioner of Sales Tax; President Dr. Shashank Dhond; Shri V. C. Pichad, Joint Commissioner of Sales Tax; Shri Rajeev Agrawal, Senior Vice President, GSTN; Vice President Pranav Kapadia; Mega Guidance Cell Committee Convenor

D. V. Phad; Jt. Secretary Raj Shah

Inaugural Mega Guidance Cell Meeting 10th August, 2016

Shri Subhash Gopinath Morale – Additional Commissioner of Sales Tax inaugurating 1st Mega Guidance Cell Meeting by lighting lamp

Mega Guidance Cell-cum-Study Circle Meeting, held on 16th September, 2016


72

Two Day Seminar on GST held on 22nd and 23rd October, 2016 at Mumbai

Seen from L/R: Treasurer Shri Pradeep Kapadia, Past President P. C. Joshi, President Dr. Shashank Dhond, Vice-President Shri Pranav Kapadia, Jt. Secretary Shri Raj Shah, Jt. Convenor of GST Committee Ashit Shah

Two Days Seminar on GST held on 13th-14th May, 2017 at Navin Thakkar Hall, Mumbai

From L to R: Jt. Convenor GST Committee Vinod Mhaske, Jt. Secretary Raj Shah, Jt Convenor GST Committee Ashit Shah, Past President P. V. Surte, Past President S. S. Gaitonde, President Dr. Shashank Dhond, Vice-President Pranav Kapadia, Treasurer Pradip Kapadia, Jt. Secretary Dinesh Tambde

Group Photo of all delegates

1st Outstation Seminar at Alibaug 4th August, 2016

66th Annual Report


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Full Day Seminar on GST held on 5th November, 2016 at Thane

Seen from L/R: Shri Vijay Kewalramani, President of Tax Friends; Shri Pranav Kapadia, Vice-President, STPAM; Shri Chagan Bhanushali, President, Tax Practitioners’ Association, Thane; Dr. M. V. K. Moorthy, National President, All India Federation of Tax Practitioners; Shri Chirag Parekh, Chairman, All India Federation of Tax Practitioners (Western Zone) and Shri A. K. Ansari, President of Bhiwandi Tax Practitioners’ Association

Full Day Seminar on GST held on 26th October, 2016 at Nashik

Seen from L/R: Shri Satish Boob; Shri Chirag Parekh, Chairman, All India Federation of Tax Practitioners (Western Zone); Shri Santosh Mandlecha, Vice-President, Maharashtra Chamber of Commerce, Industry and Agriculture; Past President Shri J. D. Nankani; Dr. Shashank Dhond, President, The Sales Tax Practitioners’ Association of Maharashtra

Full Day Seminar on GST, VAT and Income Tax held on 5th November, 2016 at Malvan

Seen from L/R: Dr. Shashank Dhond, President, STPAM; Shri Ishaan Patkar, Speaker; Shri Girish Samant; Shri Vinayak Patkar, Past President


74

Full Day Seminar on GST jointly with Income Tax and Sales Tax Practitioners' Association (Library Trust) along with Solapur Branch of WIRC of ICAI held on

2nd December, 2016 at Solapur

President Dr. Shashank Dhond inaugurating Seminar by lighting the lamp

Full day seminar on GST jointly with Vidarbha Tax Practitioners' Association along with All India Federation of Tax Practitioners (WZ)

held on 10th December, 2016 at Nagpur

Seen from left to right S/Shri Narendra Jha, President, VTPA; Pranav Kapadia, Vice President, STPAM; Santosh Gupta, Chief Guest Hon. Justice Shri P. B. Varale, Judge, Bombay High Court; Guest of Honour Shri P. K. Agrawal, Joint Commissioner of Sales Tax (Nagpur Division); Mahendra Jain, President, STBA Nagpur; M. Srinivasa Rao, Secretary General, AIFTP

66th Annual Report


75

19th NRRC was held on 11th & 12th November, 2016 at Pune

Seen from left to right S/Shri Dr. Shashank Dhond, President, STPAM; Samir Jani, Vice President, AIFTP; Milind Bhonde; Chirag Parekh, Chairman, AIFTP (WZ); Vijay Kewalramani, Hon. Secretary, AIFTP (WZ); Dr. M. V. K. Moorthy, National President, AIFTP; Hon’ble Mr. Ashwinikumar P. Deore, President, Maharashtra Sales Tax Tribunal; Hon’ble Mrs. Sushma Chowla, Judicial Member, ITAT, Pune; Prakash Joglekar; Pranav Kapadia, Vice President, STPAM and Deepak Godse, President, WMTPA

Shri C. B. Thakar, Past President inaugurating Intensive Study Course by lighting lamp

Intensive Study Course held on 1st October, 2016


76

On dais seen from L to R: S/Shri Adarsh Parekh, President, Malad Chamber of Tax Consultants; Kamlesh Saboo, Secretary of WIRC of ICAI; Hitesh Shah, President, Chamber of Tax Consultants; Chirag Parekh, Chairman, All India Federation of Tax Practitioners’ (WZ); Dr. Shashank Dhond, President, STPAM; Rajat Talati; Pradip Kapadia, Chairman, Joint Workshop Committee

Joint Workshop on GST, MVAT and Service Tax held on 21st January, 2017

31st Batch of Coaching Class on VAT and GST was held on 22nd November, 2016

Seen from L/R: Coaching Class Committee Jt. Convenor Shri Sunil Joshi; President Dr. Shashank Dhond; Smt. Sujata Rangnekar; Jt. Secretary Shri Raj Shah; Coaching Class Committee Jt. Convenor Shri Aditya Surte

Mock Tribunal held on 18th March, 2017

Shri Ashwinikumar Deore, President of Maharashtra Sales Tax Tribunal inaugurating Mock Tribunal by lighting the lamp

Last inside Cover

Orientation Course on GST held on 19th December, 2016 at STPAM Library Hall, Mumbai

Seen from left to right: GST Committee Jt. Convenor Vinod Mhaske; Jt. Secretary Raj Shah; President

Dr. Shashank Dhond; Shri Dhaval Talati; GST Committee Jt. Convenor Ashit Shah

Seen from L to R: S/Shri Jt. Secretary Raj Shah; Treasurer Pradip Kapadia; President Dr. Shashank Dhond; Chairman of Constitution Amendment Committee P. C. Joshi; Vice President Pranav Kapadia; Jt. Secretary Dinesh Tambde

Special General Meeting held on 17th march 2017

Foundation Day held on 17th November, 2016

Past Presidents and Office Bearers on the occasion of Foundation Day

Last Cover

Representation letter regarding extension of due date of Amnesty Scheme on 21-9-2016

41st Residential Refresher Course, at Hotel Radisson Blu, Kochi from 9th February, 2017 to 12th February, 2017

International Study Tour Organised by Club 7 Holidays Ltd. At USA

Team STPAM gave representation letter regarding extension of due date of Amnesty Scheme to Hon’ble Finance Minister of Maharashtra State Shri Sudhir Mungantiwar at Devgiri Bungalow on 21-9-2016

Hon’ble Mr. Dama Sheshadri Naidu, Justice, Kerala High Court with Managing Committee Members of STPAM and Past Presidents

Seen from L to R : Shri C. B. Thakkar, Dr. Shashank Dhond, President

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