Surat, May 20 – A joint seminar focused on direct and indirect taxes was recently organized at Samruddhi Bhavan in Nanpura under the aegis of the Southern Gujarat Chamber of Commerce and Industry (SGCCI) and the Southern Gujarat Income Tax Bar Association (SGITBA). The session aimed to provide entrepreneurs and tax professionals with practical knowledge and updates on the latest income tax and GST regulations.
As per report, the seminar featured in-depth presentations by leading tax experts. Chartered Accountant Jigar Chokshi, speaking in the first session, elaborated on key provisions related to Tax Deducted at Source (TDS) and Tax Collected at Source (TCS). He highlighted a recent amendment to Section 193 (Interest on Securities), effective from April 1, 2025, which now caps the exemption limit at ₹10,000.
Chokshi further explained that TDS is applicable on dividend payouts in mutual fund schemes when investors opt for the dividend payment option. He also clarified that income from online gaming is subject to 30% TDS without any minimum threshold. Additionally, he noted that senior citizens are also required to file returns if their income exceeds the specified exemption limit.
In the second session, CA Anish Goyal discussed the regulatory framework for E-Invoicing and E-Way Bills under the GST regime. He pointed out that commodities such as liquefied petroleum gas, kerosene, and jewelry are exempt from the E-Way Bill requirement. He also stated that if a vehicle is detained, a notice is typically issued within seven days, and the vehicle is released upon timely payment of the applicable tax or penalty.
Goyal emphasized the importance of accurately entering details when generating E-Way Bills, including the supplier and recipient’s information, invoice number and date, HSN code, value, quantity and weight of goods, mode of transport, and vehicle number.
The seminar commenced with a welcome address by Hemant Desai, advisor to the Chamber’s GST Committee. Advocate Tushar Vakilna of SGITBA and Chamber member Advocate Shashank Mithaiwala introduced the guest speakers. The seminar was anchored by Dipesh Shakwala, Co-Chairman of the Income Tax Committee, and concluded with a vote of thanks delivered by former SGITBA President Rekhank Kayasth.
The seminar provided participants with essential updates on tax law and compliance, equipping them with practical tools for better adherence to the evolving regulatory framework.
