Introduction:

Value Added Tax (VAT) is a very important matter of today’s life. Everybody comes across different aspects of VAT in course of his daily life and professional life. Be it an industry or any business house or any government or non-government office, there lies either the need for paying VAT or deducting VAT at source. All retail buyers require knowing the need for and importance of taking VAT Challan. So, it is important for everyone to obtain basic knowledge on VAT. It is more important for them whose decisions matter for their businesses, industries and offices. Moreover, people dealing with income tax, audit, management, finance, procurement, bills payable etc. sections in different businesses and industries require knowing many things regarding VAT, some of those matters are tricky in nature. Updated knowledge in the area is needed to lead a team in corporate houses. An executive or a corporate team leader not only requires to know the rules and regulations currently in practice but for promoting the purposes of the organizations, they require to know what rules and regulations are in the offing that will impact them. The Value Added Tax and Supplementary Duty Act, 2012 (new VAT law) has been passed by the parliament in 2012 and implemented from 1 July 2019. The executives and corporate leaders require knowing promptly what are the features of the new VAT law. The new VAT law has been implemented through automated system. So, it also requires knowing what shall be the role of the VAT payers in the automated process. VAT deduction at source is a very important aspect of our VAT system today. People serving in the VDS withholding entities require knowing in details the provisions regarding VDS. This program is designed to provide the participants the VAT knowledge in these areas.

How will participants benefit after this workshop?

The purpose of this program is to provide the participants full understanding regarding the features of the new VAT law. Another purpose is to make them understand the features of the automated system through which the new VAT law has been implemented. In addition, providing working knowledge regarding the provisions of the current VDS system is also a purpose of this training. Thus, attending the program, the participants:

— Can develop knowledge regarding the full features of the new VAT Act & Rules;
— Can understand the full features of the automated system through which the new VAT law & Customs law has been implemented;
— Can understand their role to implement the new VAT law;
— Can understand the full provisions of current VDS system;
— Can plan strategies for their organizations ahead to face future challenges;
— Can plan strategies for their organizations ahead to reap the benefits of the provisions of the new VAT law;
— Can further develop their career in VAT, customs, finance and management.

Contents of workshop:

- Online VAT Registration Process

- How to maintain Mushak Challan & all VAT Registers

- Full Process on VAT Deduction at Source

- Online VAT Return Submission