An enriching session on ‘Introduction of GST in India & it’s likely impact on business’ was given by Ms Vidhya Srinivasan, Executive Director & Chief Finance Officer, Puma India on 9th February 2017 under the Vaarta series at VGSoM, IIT Kharagpur. Ms Srinivasan is an alumnus of Indian Institute of Ahmedabad and has over 19 years of experience at various leading Corporate & MNC organisations like A.T. Kearney, Glenmark Pharmaceuticals, Aditya Birla Retail Limited in the areas of Strategy, Business Planning, Commercial, Finance & Accounting Management. As a member of the leadership team, Ms.Srinivasan helps in understanding business environment, develop a clear business strategy and execution plans and a comprehensive business plan.
Considering the current status of the Indian economy and hysteria around GST, students were completely engrossed in the energetic lecture. From the very need to bring GST to changes expected in the tax structure, the crisp explanations of each aspect related to the topic were very instructive. Explaining the facts and meanings around GST from scratch helped elucidate the audience.
With the GST to be incorporated in the very near future, Ms Srinivasan went on to explain the tectonic shift expected in the tax regime. Considering the pros of the same, ease of doing business will not be limited to excise free zones or limited areas. With the inclusion of combined tax structure, companies shall enjoy manufacturing hub freedom and simplified logistics with the provision of tracking goods all over the country.
Considering the intense IT requirement in order to successfully implement the GST, Ms Srinivasan explained the vital role of various tech firms. Considering the positive impact on service sector, traders and manufacturers, the government counts on GST to take the nation forward and take the Make in India scheme a step ahead.
The session ended with a Q&A round and was filled with extensive questions to which Ms.Srinivasan gladly poured insights and registered new curiosities and interests in the economics and financial structure of India.
