MANAGING COMMITTEE MEMBERS 2015-16 · 20. Joint workshop on MVAT and Service Tax jointly with The...

MANAGING COMMITTEE MEMBERS 2015-16

OFFICE BEARERS 2015-16

Seated from L to R : S/Shri Hemant Save, Past President, Deepak Bapat, Past President, Ashvin Acharya, Past President, Pradip Kapadia, Hon. Jt. Secretary, Dr. S. S. Dhond, Vice President, Vijay Sachiv, President, Pranav Kapadia, Hon. Treasurer, D. V. Phad, Hon. Jt. Secretary, Kishor Lulla, Past President, Sachin R. Gandhi, Past President

Standing from L to R : S/Shri Bhaven Mehta, Ajay Talreja, Dharmen Shah, Sunil Khushlani, Dilip Nathani, Mahesh Madkholkar, Aalok Mehta, Ashit Shah, Pravin Shinde, Vinod Mhaske, Sunil Joshi, Prashant Vora, Hemant Walkar, Vivekanand Rao, Satish Boob

Seated from L to R: S/Shri Dr. S. S. Dhond, Vice President, Vijay Sachiv, President, Pranav Kapadia, Hon. Treasurer

Standing from L to R: S/Shri Pradip Kapadia, Hon. Jt. Secretary, D. V. Phad, Hon. Jt. Secretary

Inside 2nd Cover

The Sales 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, Vikrikar Bhavan, Mazgaon, Mumbai–400 010. Tel.: 2373 7153

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

65th ANNUAL REPORT(Report for the year 2015-16)

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The Sales Tax Practitioners’ Association of Maharashtra Sagacity, Service, Solidarity Leads to Success

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

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

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

Auditor’s Report ---------------------------33

Balance Sheet -----------------------------36

Income & Expenditure A/c --------------38

Schedules-----------------------------------42

Annexures ----------------------------------51

--------66

CONTENTS



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


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65th Annual Report

Sagacity, Service, Solidarity Leads to Success



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


65th Annual General MeetingNOTICE TO MEMBERS

NOTICE is hereby given to all the members of the Association that the 65th ANNUAL GENERAL MEETING of the Members will be held on Friday the 15th July, 2016 at 5.00 p.m. at the S.T.P. Association Library Hall, Room, No. 104, 1st Floor, Vikrikar 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 17th

July, 2015.

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, 2016 and the Balance Sheet as on that date and to receive and adopt the Annual Report of the Managing Committee for the year 2015-16 (A copy of the report and accounts would be sent separately).

3. To appoint an Auditor for the year ending 31st March, 2017 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 D. V. PhadDated - 25th April, 2016 Pradip Kapadia Hon. Jt. Secretaries

Resolution : Any member desiring to move any resolution, other than alterations in the Articles of the Constitution of the S.T.P. 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 17th June, 2016.

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.

2. First time we have represented to Chairperson Central Board of Direct Taxes, New Delhi for extension of Due Date for Tax Audit Report in Form 3CD and also Extension for filing Return of Income for A.Y 2015-16.

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

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

5. 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.

6. Mega Guidance Cell meetings at Mazgaon Library on the topic CDA (Computerised Desk Audit),

7. Workshop on MVAT, Service Tax and Allied Laws jointly organised with AIFTP, CTC, BCAS, MCTC and WIRC of ICAI.

8. 40th Residential Refresher Course at Hotel Hyatt, Amritsar with 256 participants.

9. 15th International Study Tour at Canada with 38 participants as conducted, organised and operated by Club 7 Holidays Ltd.

10. Full day seminar on Demonstration on New Automation Module prepared by Sales Tax Department, Amendments in MVAT Act and overview of Model GST Act – 2016 held on 14th December 2015.

11. Full day seminar on Demonstration on New Automation Module prepared by Sales Tax Department, Amendment as per Act No. L. A. Bill No. XVIII of 2016, Dated 4-4-2016, (Excluding Amnesty Scheme) and Overview of Amnesty Scheme under BST Act / MVAT Act / Prof. Tax Act held on 28th April, 2016. The seminar received a record breaking response and was attended by more than 600 participants.

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65th Annual Report


12. Full day Seminar on Mah. Act No. XV of 2016, dated 26th April, 2016, Composition Schemes under MVAT Act & Miscellaneous Amendments under MVAT Rules 2002 Mah. Act No. XVI of 2016 dated 26-4-2016 Practical Aspects of New Auto Returns & New Billing Software Organised jointly with Maharashtra Chamber of Commerce, Industry and Agriculture held on 11th May, 2016.

13. Seminar on Real Estate Development jointly organised with All India Federation of Tax Practitioners and Chamber of Tax Consultants

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

15. Coaching Classes & Mock Tribunal held for the benefit of new as well as experienced members with a view to explain the basics of VAT/CST & other Allied Laws. This year first time Mock Tribunal was conducted at Bench 1 of The Maharashtra Sales Tax Tribunal.

16. Our Website www.stpam.org updated in every respect.

17. Video Streaming of Study Circle Meetings

18. 3rd Specialised batch of Study Course on Service Tax with 32 participants

19. Intensive Study Course with 99 participants

20. Joint workshop on MVAT and Service Tax jointly with The Malad Chamber of Tax Consultants conducted at Malad.

21. Public Meeting on Union Budget 2016 organised jointly with Ghatkopar CPE Study Circle, Forum of Free Enterprises, Chamber of Tax Consultants and various associations.

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The Sales Tax Practitioners’ Association of Maharashtra

65th Annual Report (Report for the year 2015-16)

We have pleasure in presenting the 65th Annual Report of the activities of the Association during the period 2015-16 along with the Audited Statement of Account and Balance Sheet as on 31-3-2016.

1. Election for the year 2014-15

At the 64th Annual general meeting held on 17th July 2015, Shri K. M. Shah, member of the Election committee informed the members present that the election was required for the year 2015-16. He announced the names of the office bearers and managing committee members who were elected unopposed. The baton of the Presidentship was entrusted to the experienced and dedicated member of the Association, Advocate Vijay M. Sachiv.

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 2016-17. The Committee was headed by our senior member, Shri D. N. Parikh as a Chief Election Officer.

3. Managing Committee

At the first meeting of the Managing Committee Shri Ashvin Acharya, Shri Deepak Bapat, and Shri Kishor Lulla were unanimously co-opted as the members of the Managing Committee for the year 2015-16. 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 2015-16 comprising young, enthusiastic and dynamic members performed their functions with

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great zeal throughout the year. Till the date of this report, 12 meetings of the Managing Committee were held. The details of attendance are given in Annexure “C”.

4. Law & Representation Committee – VAT

This Committee of the Association makes valuable representations and suggestions on legal and administrative issues to the Sales Tax Department as well as to the State Government. Besides representations, meetings, discussions with the Sales Tax Department are held and are followed – up on the various issues, which results in better and simplified administration of the Association. The L&R (VAT) Committee for the year, under the Chairmanship of the President, Shri Vijay Sachiv, was headed by the Convenor, Shri. Vinod K. Mhaske. During the year, the Committee made numerous representations and organised various Study Circle Meetings and Seminars in order to update the members with the latest development on MVAT & Allied laws. The details of the activities during the year are summarised below.

During the year 2015-16, the Committee had represented on many matters concerning legal and administrative issues faced by the members of our Association and the dealers. Besides representing the matters before the appropriate forums, Study Circle Meetings and Seminars were organized to educate the members of the Association on the MVAT Laws & Service Tax. Video recording of Study Circle Meetings and Seminars are also placed on the website of the Association, resulting in extension of benefits to all the members of the Association.

We have organized full day seminar on 14-12-2015, at Navin Thakar Hall, Mumbai, on the subject “Demonstration of New Automation Module prepared by Sales Tax Department, “Recent Amendment under MVAT Act 2002”, the learned speaker was Adv. Nikita Badheka and “Overview of GST Act”, the learned speaker was Adv. Deepak Bapat. The said seminar was inaugurated by Hon’ble Commissioner of Sales Tax, Shri Rajiv Jalota and 287 delegates participated in the said seminar.

During the year 2015-16, a second grand full day seminar was held on 28-4-2016 at Navin Thakar Hall, Mumbai, on the subject “New Automation

Vinod Mhaske Convenor

Vijay Sachiv Chairman

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Module, Amendment as per L.A. Bill No. XVIII of 2016”, dated 4-4-2016 and “Overview of Amnesty Scheme under BST Act, MVAT Act and Prof. Tax Act”. The said seminar was inaugurated by Hon’ble Finance Minister, Shri Sudhir Mungantiwar, and Hon’ble Commissioner of Sales Tax, Shri Rajiv Jalota. The seminar was addressed by learned speaker CA. Deepak Thakkar, Adv. Deepak Bapat and being as a Co-ordinator Adv. Amol Mane. The seminar was followed by Brains’ Trust session, Shri P. V. Surte, Sr. Advocate was chairman and Shri Vinayak Patkar, Shri C. B. Thakar, Smt. Nikita Badheka and Smt. Sujata Rangnekar, were trustee’s respectively. More than 587 Delegates participated in the said seminar which is the highest participated ever in the history of STPAM.

It is the prime duty of the STPAM to educate our members. Therefore, we had organized the seminar on 28-4-2016, at Vile Parle, Mumbai. The members overwhelming response to the said seminar, compels us to hold another seminar on 11-5-2016, at Dahanukar Hall, Kala Ghoda, Mumbai, on the subject “Mah. Act No. XV of 2016, dated 26-4-2016, Composition Scheme under MVAT Act & Miscellaneous Amendments, Amendments under MVAT Rule 2002, Mah. Act No. XVI of 2016, dated 26-4-2016 and Practical Aspect of New Auto Returns & New Billing Software. The said seminar was addressed by the learned speaker CA. Mayu Parekh, Shri Satish Boob, Adv. Nikita Badheka and Adv. Amol Mane. Due to the thirst for education by our members, this seminar was also full and 220 delegates participated in the said seminar.

(A) Representations before the Sales Tax Department

The L&R (VAT) Committee had made representations during the year before the Sales Tax Department on the following issues:—

Sr. No.

Date Topic Submitted

(1) 28-8-2015 Difficulties faced by the Dealers in relation to E-Registration, Refund cases, Assessment of Builder & Developers, Assessment of alleged Hawala suspicious

Hon’ble Commissioner of Sales Tax.

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65th Annual Report


Sr. No.


& RC Cancelled dealers and restructuring the Sales Tax Department on Nodal system basis.

(2) 14-9-2015 Levy of interest u/s. 30(4) in CDA Compliance for Fin. Year 2012-13.


(3) 19-9-2015 Extension of time limit of CDA 2012-13.


(4) 11-1-2016 Extension of time limit to upload Form-704 for Fin. Year 2014-15.

Hon’ble Finance Minister, Hon’ble Principal Secretary Finance, Hon’ble Commissioner of Sales Tax.

(5) 25-1-2016 Issuance of Trade Circular in respect of extension of due date for uploading 704 and physical submission of acknowledgement of Audit Report for the Fin. Year 2014-15.


(6) 16-2-2016 Pre-Budget Memorandum giving suggestion for amendment to certain section of MVAT Act 2002 and allied laws for the Fin. Year 2016-17.

Hon’ble Finance Minister and Hon’ble Commissioner of Sales Tax.

(7) 30-4-2016 Not to initiate recovery of dues by the Sales Tax Department where Amnesty Scheme is in pipeline.


(8) 4-4-2016 Suggestions regarding proposed Amnesty Scheme 2016.


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Sr. No.


(9) 13-5-2016 Difficulties faced by the Dealers and members in respect of New Automation Module.


(10) 7-6-2016 Extension of date for furnishing and uploading the return for the month of April 2016.


(B) Study Circle Meetings

The L&R (VAT) Committee had arranged the following Study Circle Meetings addressed by renowned personality in the profession. Inaugural Study Circle Meetings was held on 06th August, 2015 on the topic “Intricate Issues in MVAT Appeals” by Sr. Adv. P. V. Surte and meeting was inaugurated by Hon’ble President of M.S.T.T. Shri Ashwinikumar Deore.

Sr. No.


(1) 6-8-2015 Intricate Issues in MVAT Appeals.

Sr. Advocate Shri P. V. Surte

(2) 21-10-2015 High Seas – Inward & Outward. Adv. P. C. Joshi(3) 5-11-2015 ‘122nd Constitution

Amendment Bill, 2014 – its necessity, usefulness & Impact on proposed GST.

Adv. Ratan Samal

(4) 26-11-2015 Intricate Issues under MVAT Audit.

CA Mayur Parekh

(5) 17-12-2015 Works Contract vis-à-vis Branch Transfer.

Adv. N. T. Nirale (Ex-Member, M.S.T.T)

(6) 10-3-2016 Direct Tax Proposals in Union Budget 2016-17.

CA Mukund Chitale

(7) 14-3-2016 Indirect Tax Proposals in Union Budget 2016-17 (Excise & Service Tax)

Adv. Prashant Patankar

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Sr. No.


(8) 11-4-2016 Overview of Maharashtra State Budget – 2016-17.

Adv. Nitin Shah (Pune)

(9) 24-6-2016 Maharashtra Settlement of Arrears in Disputes Act, 2016

CA Sujata Rangnekar

(10) 1-7-2016 Maharashtra Settlement of Arrears in Disputes Act, 2016

Jt. Commissioner Shri Thorat

(C) Service Cell Meetings

The Association was represented during the year, by the members of the Law and Representation Committee, at the Service Cell meetings held by the Sales Tax Department, where various important issues were raised by Law and Representation Committee.

5. Law & Representation Committee – Service Tax

In recent times the scope of practice in indirect tax has widened and one is required to have a thorough knowledge of taxation of goods as well as service i.e., sales tax as well as service tax. As we are marching ahead towards the combined Act of Goods and Services viz. Goods and Service Tax (GST), it is must for a tax practitioner to have knowledge of both.

Our Association, as always, takes lead in spreading and dissemination the knowledge and education amongst the society at large have thought it fit to organise Study Circle Meeting of “Issue based, Industry wise Applicability of Service tax”. It is always observed that Study Circle Meeting always brings leadership quality amongst the participants as well as new breed of monitors and chairman can also be developed.

We had arranged 7 (seven) lectures covering industries such as Construction, Entertainment, Supply of Tangible Goods, Transport Industry, Renting, Hotel & Restaurant Industry and other miscellaneous industry. Each session of lecture was for 2 hours and 26 members were enrolled and take benefit of very interactive 7 (Seven) sessions. All the members had appreciated this new concept and requested for such session again and again.

Ashit Shah Convenor

Pranav Kapadia Chairman

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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 F.Y. 2015-16, Smt. Sujata Rangnekar will continue as Chief Editor & Shri Vikram Mehta will continue as Associate Editor of the Sales Tax Review.

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 Nathani as the Convenor. 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 like Taxability of Intangible or Incorporeal Goods, Taxability of emerging E-commerce transactions, Developers Plight, Copyright transactions, Analysis of various Important High Court Decisions and emerging topics like Analysis of Constitutional Amendment Bill for introducing GST were published. This shows the eagerness for dissemination of knowledge and eagerness to learn amongst the members of the Association.

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

Providing the members with latest publications and material on the subject of tax laws is an important objective of the Association. The libraries situated at Mazgaon and Bandra Sales Tax Offices cater to this important requirement.

Dilip Nathani Convenor

Mayur Parekh Chairman

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The Committee under the Chairmanship of Shri Dattatray V. Phad was headed by Convenor, Shri Sunil G. Khushalani. The said committee did the following work during the year.

We updated the library with latest books, Newsletters and Journals.

Bandra library was renovated with the due permission of the concerned authorities and now library is ready with latest books and Journals.

The library is ready with new seating arrangements and new book selling counter.

The completion of said renovation work of library was not possible without the able efforts of President Shri Vijay Sachiv and Chairman Shri D. V. Phad.

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. 30th batch of coaching classes was organised under the able Chairmanship of our Hon. Jt. Secretary Shri Dattatray Phad and Convener Shri Sunil D. Joshi at our Association’s library. The total numbers of participants were 47 which consists of new entrants in the practice of taxation, students who were pursuing professional courses and few of the practising professionals. This batch of coaching classes was inaugurated by our Past President Shri Deepak Bapat on 24th November, 2015 and total 28 lectures on VAT, CST, Profession Tax and Service Tax were conducted during the course.

Mock Tribunal was organised by the Committee wherein the students of the coaching class actively participated as Appellants and Defendants. First time in coaching classes the Mock Tribunal were arranged at Bench One of Maharashtra Sales Tax Tribunal. The Mock Tribunal was inaugurated with hands of

Sunil Khushalani Convenor

Dattatray Phad Chairman

Sunil D. Joshi Convenor


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Hon. Shri Ashwinikumar Deore President Maharashtra Sales Tax Tribunal. Shri R. R. Gandhi, Smt. Shubhada Tulankar, Smt. A. K. Jadhav – Jagiasi and Shri V. V. Ghuthe members of MSTT were present at Mock Tribunal and chaired the Mock Tribunal as Jury members.

9. Computer and Website Management

This committee was headed by Shri Ashvin Acharya as Chairman and Shri Amol Mane as Convenor. The website is an important and efficient tool to disseminate information amongst the members all over Maharashtra.

This year our website www.stpam.org has reached new heights. Several new concepts and facilities have been introduced. Last year the most important and useful feature of online payment facility for all the members was introduced. This year we are two steps ahead. We have introduced the online membership application form for new members as well as for renewal for membership. By this members can pay online and also apply online for membership or for renewal or can choose any option of payment like by direct cash deposited in bank account, cheque, DD or online payment and fill the online form.

Association has launched website in new 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. This android application can be downloaded on smart phone from play store without any charges. It gives access to website directly from mobile itself. It also gives alerts regarding new notifications, new circulars, due dates, association news etc. Through this android application full text of circulars, notifications etc. can be viewed.

The website is regularly updated. The MSTT Judgments have been uploaded on the website from April, 2000 to March, 2016 with search facility and index.

10. Accounting and Office Administration Committee

The Committee was headed by Past President, Shri Kishore Lulla as Chairman and Shri Prashant Vora as Convenor. The day-to-day issues of

Amol Mane Convenor

Ashvin Acharya Chairman

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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 staff have been reorganised so as to increase work efficiency among the staff. The rotations of duty of staffs were also carried out during the year. New staff members have also been appointed as required. The Committee has taken reports containing details of work completed and works 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 Hon. Vice President Dr. Shashank Dhond as Chairman and Shri Ishaan V. Patkar as the Convenor, have taken great efforts in preparing the gist of DDQs and published in Sales Tax Review throughout the financial year for the benefits of the members of the Association.

12. Mega Guidance Cell Committee

Under the Chairmanship of Secretary, Shri Dattatray V. Phad and Convenorship of Shri Bhaven D. Mehta the Guidance Cell meetings were conducted during the financial year 2015-16. Queries raised by the participant members were answered by the sales tax officers in detail and expressed their views and experience on the

Prashant Vora Convenor

Kishore Lulla Chairman

Ishaan Patkar Convenor

Dr. Shashank Dhond Chairman

Bhaven Mehta Convenor


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subject matter. The Mega Guidance Cell meeting was inaugurated by Shri G. V. Bilolikar, Joint Commissioner of Sales Tax on 25th August, 2015.

The details of Mega Guidance Cell Meetings are as under:

Sr. No.

Date Subject Speakers

1 25th August, 2015

Introduction & Training on CDA Module (Computerised Desk Audit under section (7) of Section 63 in relation to specific issues)

Shri G. V. Bilolikar Joint Commissioner of Sales Tax Economic Intelligence unit.Shri Pramod Dumre, Dy. Commr. of Sales Tax.

13. Intensive Study Course Committee

The field of indirect taxation has assumed importance in recent times. The provisions of law are being applied by the revenue very harshly and authoritatively. It is imperative therefore to keep ourselves abreast with the latest developments and intricacies of law.

The Intensive Study Course is designed to enable the members to study and discuss various issues on Indirect Tax Laws such as MVAT, Central Sales Tax, Profession Tax and Service Tax. The course helps the participants to update and sharpen their knowledge on the subjects deliberated during the course. The participants get an opportunity to lead the discussion either as a group leader or otherwise and raise various issues on the subjects. One of the members of the course acts as a group leader and leads the discussion while one of the seniors the profession monitors the discussion.

The meetings are generally arranged on 1st and 3rd Saturdays of the month (Working Saturdays of The Sales Tax Department) during 10.30 a.m. to 1.00 p.m. at Mazgaon Library. The total enrollment for the Intensive Study Course was 99.

The course was devised to study the current topics and generate discussions on various issues concerning assessments & refund, registration, MVAT Audit, input tax credit, declaration under CST Act, interest, penalties, prosecution, CENVAT Credit, Reverse charge mechanism, sale in transit and branch transfer, GST draft rules, appeal and stay proceedings etc.

Pravin Shinde Convenor

Pradip Kapadia Chairman

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Under the Chairmanship of Joint Secretary Shri Pradip Kapadia and Convenor, Shri Pravin Shinde, the course was inaugurated on 3rd October, 2015 by the worthy President Shri Vijay Sachiv and eminent faculty and monitor of the session Adv. C. B. Thakar. A large number of participants took advantage of the course.

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, Service tax and Profession Tax Acts. 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 Sales Tax and Allied Laws has become a must for all concerned practicing in Sales Tax and Allied Laws. This Committee is headed by Treasurer Shri Pranav Kapadia as the Chairman along with Shri Ashit Shah and Shri Bhaven Mehta as Convenors.

This year as per the request and suggestion of the members we have once again restored to the earlier format of Referencer with part I & part II. Part I consists of Referencer, Planner and CD and part II consists of pocket diary.

This year we have chosen the theme of “AUTOMATION’’, as various departments including VAT department has also moved ahead in the era of Automation. In the Referencer we have also tried to explain various process of different Acts through use of “Flow Charts”. Our association has completed 65 years of services, a ray of this is also included in Referencer.

We expect that the reintroduction of earlier format of Referencer with introduction of new features will be welcomed by the members.

15. 40th 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

Bhaven Mehta Convenor

Ashit Shah Convenor

Pranav Kapadia Chairman

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as Chairman along with Convenor Shri Aalok Mehta The 40th Residential Refresher Course was held from 20th February 2016 to 23th February, 2016 at Hotel Hyatt in pleasant environment of Amritsar with inflow of knowledge and outflow of ideas with eminent & versatile personalities. In all, 256 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 Intricacies under CST Transaction qua High Seas/Sales In Transit u/s 6(2) and Branch Transfer

Adv. Parth Badheka Adv. C. B. Thakkar

2 Assessment Under MVAT Act

Adv. Pradeep Kshatriya Adv. Deepak Bapat

3 Brains Trust Session Trustees :Adv. C. B. ThakkarAdv. Nikita Badheka.CA Sujata Rangnekar,CA Rajat TalatiAdv. Deepak Bapat

The R.R.C. was inaugurated by Shri S. S. Gaitonde Past President STPAM.

The participants appreciated the excellent presentation of papers by the paper writers, detailed group discussions and Chairmen’s important remarks. The paper 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 visiting the Golden Temple, Jalianwala Baug and Wagha Border. We take this opportunity to thank all you for overwhelming response from all of you who have participated in this event in large number along with Chief

Aalok Mehta Convenor

Sachin Gandhi Chairman

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Guest, Paper Writers, Chairman, Trustee of Brain 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 15th International Residential Refresher Course of our association was organized at Canada under the Chairmanship of Shri Sachin Gandhi and Convenorship of Shri Aalok Mehta from 23rd May 2016 to 5th June, 2016. The International Residential Refresher Course received a good participation of 38 delegates. Advocate Shri C. B. Thakkar has presented paper on Amnesty Scheme, 2016 and Maharashtra Settlement of Arrears in Disputes Act, 2016 in masterly manner. The Participants appreciated the efforts taken by paper writer Advocate C. B. Thakkar.

The tour was conducted by CLUB 7 Holiday 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 were started from 5-12-2015 which ended on 16-4-2016 The Workshop is jointly organised by 6 professional Associations viz. AIFTP, BCAS, CTC, MCTC, STPAM & WIRC of ICAI. There are 40 participants enrolled for the Joint Workshop. It compromised 12 Technical sessions with 12 eminent speakers It was a great learning experience under Pradip Kapadia, Chairman Vivekanand Rao, Convenor the MVAT, CST, Service Tax & Allied Laws This Committee is headed by Hon Jt Secretary Shri Pradip Kapadia, as Chairperson and Shri Vivekanand Rao as Convenor.

The Workshop was inaugurated on 5-12-2015 by heads of all 6 professional Associations jointly.

Aalok Mehta Convenor

Sachin Gandhi Chairman

Vivekanand Rao Convenor

Pradip Kapadia Chairman

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This Year we also conducted Jt Workshop on MVAT and Service Tax Jointly with The Malad Chamber of Tax Consultants organized at Malad. Total enrollment for workshop was 99 delegates. The Joint workshop was inaugurated by Jt Commissioner of Sales Tax Shri Prasad Joshi and his team on 14-5-2015.

18. Finance & Accounts Committee

The Committee under the Chairmanship of Shri Mayur Parekh with Pranav Kapadia Treasurer along with President Shri Vijay Sachiv, Vice President Dr. Shashank Dhond, Jt. Secretaries, Pradip Kapadia D. V. Phad, and committee members S/Shri U. M. Loonawat, R. S. Pathak, Suresh Sanghavi, Sachin Gandhi, Janak Vaghani, V. R. Ghelani and K. M. Shah met at periodical intervals to review finance and accounts of the Association. The audited annual accounts for the year ended 31-3-2016 are printed along with this Annual Report. The Committee thanks 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 2015-16.

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.

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.

Pranav Kapadia Treasurer

Mayur Parekh Chairman

Mahesh Bafna Convenor

Dr. Shashank Dhond Chairman

21

65th Annual Report


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, & other regional taxation bodies and branch of ICAI 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 programmes held are as follows—

Sr. No.

Date City Joint Participants

1 15-06-2015 Nashik Along with MACCIA, Tax Practitioners Association, Nashik

2 12-09-2015 Pune Western Maharashtra Tax Practitioners Association, Pune

3 21-11-2015 Thane AIFTP (WZ), Thane Branch of WIRC, Ulhasnagar Tax Consultants Association, Bhiwandi Tax Practitioners Association and Tax Friends

4 23-01-2016 Nashik Tax Practitioners Association, Nashik

5 05-03-2016 Sangli Tax Practitioners Association, Sangli

6 12-3-2016 & 13-3-2016

Nashik AIFTP, Tax Practitioners Association Nashik, WIRC Nashik Branch

7 13-03-2016 Solapur Income Tax and Sales Tax Practitioners Association (Library Trust) Solapur.

8 11-05-2016 Mumbai Along with MACCIA

9 2-7-2016 (Proposed)

Amravati Tax Bar Association Amravati and Vidarbha Tax Practitioners Association Nagpur.

Amol Mane Convenor

Satish Boob Convenor

22


20. STPAM News Bulletin

Under the Chairmanship of Shri Vijay Sachiv and Convenor Shri Ajay Talreja, the Association has regularly published News Bulletins during the year 2015-16

The News Bulletin is being sent every month through e-mail and also uploaded on STPAM website. Few printouts of the News Bulletin are also kept at Mazgaon Library for ready reference of the members if required.

The STPAM News Bulletin contains details of the 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, Income tax updates etc. 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.

We have also successfully obtained RNI certificate for publication of News Bulletin.

21. Core Committee on GST

This committee was chaired by Adv. Deepak Bapat and Convenor was CA Dharmen Shah. The Convenor held committee meetings at regular intervals and furnish various suggestions to Central Government and State Government on GST from time to time.

22. Membership and Subscription (Local) Committee

The main object on this committee is to increase the membership and to renew the membership of the existing members and strengthen the Association. The committee was headed by Hon. Jt. Secretary, Shri D. V. Phad and Convenor Shri Dharmen Shah. The efforts of the Convenor

Ajay Talreja Convenor

Vijay Sachiv Chairman

Dharmen Shah Convenor

Deepak Bapat Chairman

Dharmen Shah Convenor

D. V. Phad Chairman

23

65th Annual Report


brought in many new members to the Association and also renewed the maximum members by sending mass SMS, e-mails and phone calls.

23. Membership and Subscription (Outstation) Committee

The main object of this committee is to increase the Membership and strength of the Association.

This Committee was headed by Hon. Secretary Shri Shashank Dhond as Chairman and Shri Mahesh Bafna, Dhule, Shri Satish Boob, Nasik and Shri Amol Mane, Sangli 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 Shri Vijay Sachiv.

24. Foundation Day & Diwali Get-together

17th November being the Foundation Day of STPAM, was celebrated along with Diwali Get together on 17th November, 2015 at 104, Liabrary, Mazgaon, Mumbai. On this day HASYA-KAVI Shri Mahesh Dubye entertained the audience in masterly manner. Members present very much enjoyed the poems etc., presented by the said poet.

25. Awards

Awards recognise and promote talent and create a competitive environment, which encourages all to put in their best efforts. Our Association has also instituted various awards in order to promote healthy competition amongst members. The awards/prizes for various achievements are mentioned below. Some of the awards are given from the interest received from the various

Mahesh Bafna Convenor

Shashank Dhond Chairman

Amol Mane Convenor

Satish Boob Convenor

24


funds. Such funds are created from donation received from well-wishers of the Association.

For the year 2015-16

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

1 Best Article writer in STR [April 2015 to March 2016]

Smt. Rupa Gami.

Article: Section 93 – 93A Whether Just?

Ref. – STR Aug. 2015.

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

2 Best Column Writer in STR [April 2015 to March 2016]

Advocate Dinesh Tambde

Colum: Tax Digest

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

3 Best Speaker in Study Circle Meetings

Shri Prashant Patankar.

Subject: ‘Indirect Tax Proposals in Union Budget – 2016-2017 [Excise & Service Tax]’

Dr. Shashank Dhond

4 Best paper writer in 40th Residential Refresher Course.

Advocate Parth Badheka.

Subject: ‘Intricacies under the CST transactions qua High Seas, Branch Transfer & Sale in Transit u/s. 6[2]’

Smt. Sujata Rangnekar

5 Best Sportsman Shri Ashwin Tanna Shri D. V. Phad

25

65th Annual Report


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

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

Shri Dinesh Kumar Tiwari

Subject: Issues of Interests & Penalties under the MVAT Act & the CST Act

Mr. Pravin Shinde

7 Best Convenor Shri Vinod Mhaske for Law & Representation Committee

President: Shri Vijay M. Sachiv

8 Best Convenor Shri Bhaven Mehta for Referencer Committee.


9 Best Convenor Shri Aalok Mehta for Residential Refresher Course Committee


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

Tax Practitioners Association, Sangli


11 Satishchand Laxmichand Memorial Awards for best pleader before the Mock Tribunal

&

T. B. Lulla Memorial Fund for best Participant at Moot Court Competition.

* Shri Bhaven Mehta

* Smt. Sonali Bapat

Hon’ble Judges/Members of the M.S.T.T.

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

Shri Kushal Shah –

26


Sr. Prize for Awardee[s] Judge[s] for selection13 D. M. Gala Prize for

excellence in any field/subject/work as may be decided by the President

* Shri Deepak Bapat for guiding in formulating policy of every matter during the year 2015-2016


* Shri Sachin R. Gandhi for offering his expertise in every event of the STPAM during the year 2015-2016

* Shri Mayur R. Parekh for efforts taken for smoothing the work of election process 2016-2017 of the STPAM

26. Obituary

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

1. Shri Anilkumar Krishnakumar Asher.

2. Shri A. B. Ghanekar.

3. Shri P. O. Sodha

4. Shri Prakashchandra Agrawal.

27. 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. We are also

27

65th Annual Report


thankful to Hon’ble Finance Minister for accepting our invitation as chief guest and inaugurating our full day seminar at Mumbai held on 28th April, 2016.

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. We are also thankful to Hon’ble Commissioner for accepting our invitation as Chief Guest and Inaugurating our Full Day Seminar at Mumbai held on 14th December, 2015.

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 thankfull to Hon’ble President of Maharashtra Sales Tax Tribunal for Inaugurating our Mock tribunal and also for granting Permission to use Bench 1 for Mock tribunal for the benefits of the students.

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

5. Shri V. V. Bilolikar, Joint Commissioner of Sales Tax for Inaugurating Mega Guidance Cell Meeting.

6. Past President Shri. C. B. Thakar for inaugurating the Intensive Study Circle Meeting and Workshop on MVAT Act, Service Tax & Allied Laws jointly with AIFTP (WZ), BCAS, CTC, STPAM, WIRC of ICAI and MCTC.

7. Joint Commissioner of Sales Tax Shri Prasad Joshi and his team for inaugurating our Joint workshop with MCTC on MVAT and Service Tax Laws held at Malad.

8. Shri Maheshji Dube, winner of Mega Final of “Hasya Kavi Samelan” for delivering talk on the eve of Diwali Get together and Foundation Day of the Association.

9. Past President Shri Deepak Bapat for Inaugurating the 30th Batch of Coaching Classes.

10. Past President Shri S. S. Gaitonde for addressing & Inaugurating the 40th RRC at Hotel Hyatt, Amritsar.

28


11. 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.

12. 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.

13. Editor Smt. Sujata Rangnekar & Associate Editor Shri Vikram Mehta of the Sales Tax Review for F.Y. 2015-16 for rendering their selfless services during the year.

14. All the authors of Monthly columns and Contributors of Articles and other Reference materials for the Journal.

15. Shri D. N. Parikh, the Chief Election Officer and other members of the Election Committee S/Shri K. M. Shah, Suresh Gaitonde, V. V. Khare, J. D. Rawal, R. J. Gandhi and I. A. Shah for accepting and discharging the responsibilities judiciously.

16. 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.

17. MLA Shri Madhav Bhandari for gracing the full day seminar on 28th April 2016 with his presence.

18. Trustees for Brain 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 and the Intensive Study Course Meetings.

20. All the Speakers who have readily accepted our invitation and delivered lectures at the Study Circle Meetings at STPAM Library, Mazgaon.

21. Outstation Tax Practitioners’ Associations for holding joint seminars at their places.

29

65th Annual Report


22. 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

23. Judges for the various awards for selecting awardees.

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

25. Our statutory auditor Sheth Doshi and Associates, Chartered Accountants for Auditing the Accounts of our Association for the year 2015-16.

26. Management of the Hotel Hyatt, Amritsar for excellent arrangements provided for 40th Residential Refresher Course held at Amritsar.

27. Shri Rajesh Bist of Club 7 Holidays Ltd. for excellent organising of International Study Tour at Canada.

28. Management of Navinbhai Thakkar Auditorium, Mumbai for the excellent arrangements for Full Day Seminars.

29. Management of Dahanukar Hall, Mumbai for the excellent arrangements for Full Day Seminar.

30. Management of SNDT College, Malad for excellent arrangements for Joint Workshop on MVAT and Service Tax.

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

30


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 Deepak Bapat 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.

28. 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 Shri Vijay M. Sachiv were satisfactory and seek your constructive suggestions for further improvement by the incoming team.

Place : Mumbai Pradip Kapadia & D. V. PhadDate : 16th June, 2016 Hon. Jt. Secretaries

31

65th Annual Report


Annexure A

Membership Chart

Type of Membership 31-3-2014 31-3-2015 31-3-2016

Donor Members 3 3 3

Patron Members 4 4 4

Life Members 1000 1037 1080

Ordinary Local Members 1391 1429 1338

Ordinary Outstation Members 955 999 953

Total 3353 3472 3378

Life Members Opening : 1037

Less : Deceased during the year : 0

Add : Admission during Year : 43

Balance Life Members as on 31-3-2015 1080

32


Annexure B Managing Committee Meeting Attendance Record

During July, 2015 to June, 2016

Name Designation Total Meeting

Meeting attended

Leave of absence

Vijay M. Sachiv President 12 12 -

Dr. S. S. Dhond Vice-President 12 11 1

Pranav P. Kapadia Hon. Treasurer 12 11 1

Pradip R. Kapadia Hon. Jt. Secretary 12 12 -

Dattatray V. Phad Hon. Jt. Secretary 12 10 2

Sachin R. Gandhi Ex. Off. Member 12 9 3

Sujata Rangnekar Editor, STR 12 - 12

Parth Badheka Member 12 4 8

Mahesh Baafna Member 12 4 8

Satish Boob Member 12 10 2

Sunil D. Joshi Member 12 10 2

Sunil G. Khushlani Member 12 10 2

Mahesh madkholkar Member 12 6 6

Amol T. Mane Member 12 7 5

Aalok K. Mehta Member 12 11 1

Bhaven D. Mehta Member 12 10 2

Vinod Mhaske Member 12 11 1

Ishaan Patkar Member 12 4 8

Ashit K. Shah Member 12 9 3

Dharmen Shah Member 12 6 6

Pravin Shinde Member 12 11 1

Prashant Vora Member 12 9 3

Co-opted Members

Deepak Bapat Member 12 9 3

Kishor Lulla Member 12 4 8

Ashvin Acharya Member 12 9 3

33

65th 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 Sales Tax Practitioners’ Association of Maharashtra, Mumbai

For the year ending 31st March, 2016

(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

34


(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 fact 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 : 16th June, 2016 Mem. No. 017370

65th Annual Report


35

Audited Statements of Accounts

and

Balance Sheet

for the period

1-4-2015 to 31-3-2016


36

The Sales Tax Practitioners' The Bombay Public Trusts Rules, 1951.

Balance Sheet


B. M. Doshi Place : Mumbai Proprietor Dated : 16-6-2016 Mem. No. 017370

As at 31-3-2015

`

Funds & Liabilities Sche-dule

As at 31-3-2016

`Trust Fund Or Corpus :

i) Admission Fees : I1,365,878 Balance as per last Balance Sheet 1,492,878

127,000 Add : Received during the year 103,200 1,596,078ii) 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 - 26,506iv) Life Membership Fees : II

4,427,301 Balance as per last Balance Sheet 4,807,301380,000 Add : Received during the year 450,000 5,257,301

Earmarked & Other Funds :6,291,087 New Office Premises Fund 6,291,087

- Add : Received during the year - 62,91,087Other Funds :

991,180 i) Felicitation / Memorial and Award Fund III-A 1,033,112180,476 ii) Library Fund / Other Fund III-B 182,802 12,15,914

2,975,764 General Reserve 29,75,764

Liabilities : 1,048,927 For Expenses IVA 718,976

476,433 Advances & Deposits IVB 757,100 14,76,076Income & Expenditure A/c :

6,925,270 Balance as per last Balance Sheet 9,356,7292,431,459 Add : Surplus/(Deficit) as per Income & 1,294,931 10,651,660

Expenditure A/c

27,670,283 Total 29,513,388

65th Annual Report


37

Association of MaharashtraSchedule VIII {Vide Rule 17(1)} Registration No. F-2522 (BOM)as at 31st March, 2016

Vijay M. Sachiv Dr. Shashank Dhond Pranav P. Kapadia Pradip R. Kapadia President Vice-President Hon. Treasurer D. V. Phad Hon. Jt. Secretaries

As at 31-3-2015

`

Property & Assets Sche- Dule

As at 31-3-2016

`

1,823,758 Immovable Properties V 1,641,382

2,973,844 Other Fixed Assets VI 3,656,882

20,400,000 Investments VII 21,660,000

50,955 Closing Stock VIII 50,558

1,340,788 Advances & Deposits IX 1,642,210

Cash & Bank Balances :

1,029,175 Saving & Current Bank Account XA 807,886

51,763 Cash & Court Fees Stamps XB 54,470

27,670,283 Total 29,513,388


38

The Sales Tax Practitioners' Income and Expenditure Account

Year ended 31-3-2015

`

Expenditure Annexure Year ended 31-3-2016

` Establishment Expenses :

1,115,082 a) Expenses on Human Resources A 1,458,653b) Administrative Expenses :

87,190 Electricity Charges 89,15275,810 Telephone Charges B 71,641

102,264 Printing & Stationery 104,19353,124 Postal & Courier Charges 117,99920,929 Xerox and Printing Charges 26,54424,400 Conveyance Charges 27,37846,985 Sundry Expenses 48,163

157,611 Administrative & Contractual Service Charges 109,30615,073 Prize Distribution Expenses 8,60514,000 Contributory Judgment Scheme -

- SMS Expenses General 18,846c) Professional Fees :

5,618 Legal & Professional Fees 28,19728,090 Audit Fees 28,62579,540 d) Repairs & Maintenance Charges 44,456

e) Financial Charges :6,306 Bank Charges 3,635

f) Expenditure in respect of Property :45,196 Society Charges (Mazgaon Tower) 42,916

- Library Expenses (Mazgaon Library) 34,520Library Repairs (Bandra Library) 3,42,379

3,719 Insurance Charges 3,791Expenditure on the Objects of the Association :Educational Expenses :

1,358,647 i Journal (Sales Tax Review) C 1,237,527ii Publications :

188,867 Own Publications D 157,569121,993 Other Publications DI 77,986

2,160,550 iii Referencer Printing Charges E 1,640,01393,386 iv Study Circle Meetings 86,606

148,484 v Library Expenses F 160,59552,894 vi News Bulletin 23,815

6,005,758 c/f Total 5,993,110

65th Annual Report


39

Association of Maharashtrafor the year ended 31st March, 2016


`

Income Annexure Year ended 31-3-2016

`3,392,250 Membership Fees K 3,198,250

Income From Investments :446,774 a) Interest on Company Deposits and Bonds 240,000

1,545,525 b) Interest on Bank Fixed Deposits 1,730,40230,363 c) Interest on I. Tax Refund 13,069

2,022,662 Total 1,983,471

Less:– i) Trans. to Felicitation/Memorial and 75,137 Award Fund 79,29413,389 ii) Trans. to Library Fund 14,438

1,934,136 Total 93,732 1,889,739

Income From Educational Activities :913,121 i. Journal (Sales Tax Review) C 814,979

ii. Income from Sale of Publications :190,410 a) Sale of Own Publications D 183,708156,205 b) Sale of Other Publications DI 101,638

2,430,910 c) Publication of Referencer E 1,673,390

iii. Refresher Courses & Seminars :2,830,409 a) 39th Residential Refresher Course at New Delhi -

- b) 40th Residential Refresher Course at Amritsar G 2,735,985- c) Full Day Seminar on 14-12-2015 at Navin

Thakkar AuditoriumGI 305,500

68,011 d) Specialised Course on Service Tax 2014-15 GII 105,500

11,915,452 Total 11,008,689


40

The Sales Tax Practitioners' Income and Expenditure Account




`

Expenditure Annexure Year ended 31-3-2016

`6,005,758 b/f 5,993,110

vii Expenditure on Refresher Courses & Seminars :2,734,389 a) 39th Residential Refresher Course at New Delhi

- b) 40th Residential Refresher Course at Amritsar G 2,560,914- c) Full Day Seminar on 14.12.2015 at Navin Thakkar Auditorium GI 295,116- d) Specialised Course on Service Tax - 2014-15 GII 49,948

51,288 viii) Outstation Seminar 17,673ix) Expenditure on other Educational Activities :

25,516 a) 28th Batch of Coaching Class – 2013-14 -75,044 b) 29th Batch of Coaching Class – 2014-15 H 28,842

- c) 30th Batch of Coaching Class – 2015-16 HI 49,6454,855 d) Intensive Study Course – 2013-14 -

27,017 e) Intensive Study Course – 2014-15 I 12,529- f) Intensive Study Course – 2015-16 II 54,102- g) Intensive Study Course – Service Tax - 2015-16 J 16,990

Social Events :241,391 a) Picnic at Lords Resorts,Silvassa 2014-15 -205,603 b) Foundation Day Celebration and Diwali Get together 25,021

29,944 c) AGM Meeting Expenses 30,891

- Election Expenses 190,77315,105 Mega Guidance Cell 13,85777,872 Committee Meetings 75,607

141,841 Website Expenses 34,22443 Interest – Service Tax 2,288

24,819 Written Off – Service Tax Receivable from Members – 2012-13 -

297 Written Off – Fixed Assets -449,148 Depreciation 689,071

10,140,6012,431,459 Excess of Income over Expenditure 1,294,931

12,541,389 Total 11,435,532

65th Annual Report


41

Association of Maharashtrafor the year ended 31st March, 2016

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

Vijay M. Sachiv Dr. Shashank S. Dhond Pranav P. Kapadia Pradip R. Kapadia President Vice-President Hon. Treasurer D. V. Phad Hon. Jt. Secretaries


`

Income Annexure Year ended 31-3-2016

`11,915,452 b/f 11,008,689

Surplus from Seminar Jointly held11,874 a) Joint Workshop on MVAT, Service Tax & Allied

Laws - 2014-15GIII 30,852

- b) Joint Workshop on MVAT, Service Tax & Allied Laws - 2015-16

GIV 9,700

112,665 c) 18th NRRC held on 23rd & 24th August, 2014 at Nagpur

-

- d) Joint Seminar on Real Estate Transactions GV 31,335

Income from other Educational Activities :98,972 a) 29th Batch of Coaching Class – 2014-15 H 28,278

- b) 30th Batch of Coaching Class – 2015-16 HI 75,70017,673 c) Intensive Study Course – 2013-14 -40,973 d) Intensive Study Course – 2014-15 I 46,827

- e) Intensive Study Course – 2015-16 II 101,400- f) Intensive Study Course on Service Tax – 2015-16 J 33,750

Social Events245,373 a) Picnic at Lords Resort, Silvassa 2014-15 -

90,100 b) Foundation Day Celebration and Diwali Get together

-

Profit on sale of assets 39,339

8,307 Miscellaneous Income 29,662

12,541,389 Total 11,435,532


42

Schedules to Balance Sheet as at 31-3-2016

Schedule I

31.03.2016`

Admission Fees :

Received during the year

1 Life Members 32 x 800 = 25,600

11 x 500 = 5,500

2 x 300 = 600

2 Ordinary Members 143 x 500 = 71,500 103,200

Total 103,200

Schedule II

31.03.2016`

Life Membership Fees :

Received during the Year 45 x 10,000 450,000

Total 450,000

65th Annual Report


43

Schedule IIIA : Felicitation, Memorial & Awards Funds & Students Prize Funds

Sr. No.

Name Op. Balance

1-4-2015

Received during the

year

Add Interest

@8%

Less Prize given

Closing Balance

31-3-2016` ` ` ` `

1 Past President Memorial Fund 55,781 - 4,462 2,110 58,133i) 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 113,738 - 9,099 0 122,837(For Conducting Lecture Series)

2 V. G. Varde & M. S. Sane & K. B. Kayastha 46,012 - 3,681 703 48,990Memorial Fund(For Best Article in "Sales Tax Review")

3 Satishchand Laxmichand Memorial Fund 26,460 - 2,116 1,575 27,001(For Best Pleader in Mock Tribunal)

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

28,588 - 2,287 2,287 28,588

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

93,867 - 7,509 1,406 99,970

6 Smt. Bhanuben Vora Education Fund 27,770 - 2,222 2,100 27,892(For securing highest percentage ofmarks in the M.Com Examination)

7 Pourana & Gala & Gala Memorial Prize 30,498 - 2,440 2,100 30,838i) For securing highest percentage ofmarks in the B.Com Examinationii) For securing highest marks in the paperof Accountancy in the B.Com. Examination

8 Bharat D. Vasani Prize Fund 69,456 - 5,556 5,556 69,456(For C.A.- Final Exam.)

9 T. B. Lulla Memorial Prize Fund 134,014 - 10,721 1,575 143,160(For Best Participant of Moot Court Competition)

10 T. B. Lulla Memorial Prize Fund 117,897 - 9,432 1,575 125,754(for Best Outstation Seminar)

11 D. M. Gala Prize Fund 95,407 - 7,633 4,725 98,31512 Other Funds (Combined) 151,692 - 12,136 11,650 152,178

Total (A) 991,180 0 79,294 37,362 1,033,112

Schedule III BSr. No.

Name Op. Balance

1-4-2015

Received during the

year

Add Interest

@8%

Less Books

Purchase

Closing Balance

31-3-2016` ` ` ` `

1 Library Fund (B) 180,476 0 14,438 12,112 182,802

Total (A + B) 1,171,656 0 93,732 49,474 1,215,914

Note :- Interest & Prize distribution taken proportionately


44

Schedule IV : Liabilities

Schedule IVA : Liabilities for Expenses

Particulars 31-3-2016 31-3-2015` `

1 Sheth Doshi & Associates (Audit & Professional Charges) 31,350 33,7082 Outstanding Telephone Charges 8,022 9,5323 Outstanding Exp Website Maintenance Charges 2,577 2,8094 Outstanding Xerox & Printing Charges – 3255 Outstanding Courier Charges – 8,7016 Outstanding Creditors for Electricity (Mazgaon Tower & Library) 11,112 13,1507 Provision for TDS 3,286 2068 Provision for Interest on Service Tax 2014-15 – 439 Provision for Swachh Bharat Cess 2015-16 90 –10 Provision for Moot Tribunal 2015-16 (Coaching Class) 18,786 –11 Refund for 40th RRC at Amritsar 136,165 –12 Outstanding Creditors for Repairs & Maintenance – 67413 Staff Group Gratuity Policy Premium – 96,32014 Staff Leave Encashment – 2015-16 47,315 –15 Jt. Workshop on MVAT, Service Tax Allied Laws 2015-16 9,701 –16 Shakti Technovations – Air Conditioners – Mazgaon Library – 68,34917 Shandar Interior Pvt. Ltd. – Library Renovation 450,572 815,110

Total 718,976 1,048,927

Schedule IVB : Liabilities for Advances & Deposits Received

Particulars 31-3-2016 31-3-2015` `

1 Deposit for Lockers 73,125 73,1252 Advance Service Charges 78,600 44,6003 Advance Subscription 65,000 116,3294 Advance Membership Fees (Outstation) 253,750 61,3755 Advance Membership Fees (Local) 271,500 77,2176 New Membership – 6,1827 Receipt – 29th Batch of Coaching Class – 2014-15 – 28,2788 Receipt – Intensive Study Course 2015-16 – 46,8279 Receipt – Intensive Study Course on Service Tax – 2015-16 – 12,50010 Receipt – Joint Workshop – 2015-16 15,125 10,000

Total 757,100 476,433

65th Annual Report


45

Fixed Assets

Schedule V : Immovable Properties

Particulars of Assets WDV as on 1-4-2015

Addition Deduction during the

year

Total Rate of depre-ciation

%

Depreciation up to

31-3-2016

Balance as on

31-3-2016on or before

30-9-2015on or after 1-10-2015

` ` ` ` ` ` ` `Office Premises (A) 1,823,758 0 0 0 1,823,758 10% 182,376 1,641,382

Schedule VI : Other Fixed AssetsFurniture & Fixtures 2,027,837 101,873 0 0 2,129,710 10% 212,971 1,916,739(Mazgaon Library)Furniture & Fixtures - 182,488 15,750 0 0 198,238 10% 19,824 178,414(Office)Furniture & Fixtures - 11,187 0 536,408 0 547,595 10% 27,939 519,656(Bandra Library)Steel Lockers 3,661 0 0 3,661 7,322 15% 0 0Electric Fittings 167,172 4,926 0 0 172,098 15% 25,815 146,283Air Conditioners (Maz.Tower) 23,875 0 0 0 23,875 15% 3,581 20,294Air Conditioners (Maz. Library) 354,598 0 0 0 354,598 15% 53,190 301,408EPBX System (Maz. Tower) 1,788 0 0 0 1,788 15% 268 1,520EPBX System (Maz. Library) 0 17,745 0 0 17,745 15% 2,662 15,083Amplifier & Loudspeaker 24,233 18,863 0 0 43,096 15% 6,464 36,632Water Cooler 20,001 0 0 0 20,001 15% 3,000 17,001Water Purifier (Maz. Library) 13,040 0 0 13,040 15% 1,956 11,084Computer 18,130 52,500 25,150 0 95,780 60% 49,923 45,857Signage Boards (Maz. Library ) 0 159,108 0 0 159,108 10% 15,911 143,197Camera 4,010 0 0 0 4,010 15% 602 3,408CCTV Camera (Maz. Tower) 16,775 0 0 0 16,775 15% 2,516 14,259CCTV Camera (Maz. Library) 30,640 41,081 0 0 71,721 15% 10,758 60,963Cleaning Machine 790 0 0 0 790 15% 119 671Fax Machine 3,582 0 0 0 3,582 15% 537 3,045LCD Projector 42,570 5,500 0 0 48,070 15% 7,211 40,859Printers 2,234 0 16,800 0 19,034 60% 6,380 12,654Scanner 1 0 0 0 1 60% 0 1Software Package 1 0 0 0 1 60% 0 1Mass E-Mail Software 1 0 0 0 1 60% 0 1Mass SMS Software 1 0 0 0 1 60% 0 1Account Software Package 1,605 0 0 0 1,605 60% 963 642Attendance Recording 7,454 0 0 0 7,454 15% 1,118 6,336System (Maz. Tower)Attendance Recording 4,780 0 0 0 4,780 15% 717 4,063System (Maz. Library)Web Site 24,430 184,650 0 0 209,080 25% 52,270 156,810

(B) 2,973,844 615,036 578,358 3,661 4,170,899 506,695 3,656,882Total ( A + B ) 4,797,602 615,036 578,358 3,661 5,994,657 689,071 5,298,264


46

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3

Sch

edu

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II :

In

vest

men

ts

65th Annual Report


47

2511

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48

Schedule VIII : Closing Stock As On 31-3-2016

Sr. No

Particulars Opening Stock

Quantity Mazgaon Counter

Quantity Bandra Counter

Quantity Mazgaon

Tower

Total Rate Closing Stock Value

` `

OWN PUBLICATION

1 Compilation of MVAT Rule CD 305 300 5 0 305 114.75 1

2 Compilation of Gazette & Notification CD 152 152 0 0 152 94.50 1

3 C.J. (CD) New 68 55 0 0 55 84 4,620

4 Letter of Authority 12,750 10,750 250 250 11,250 0.41 4,612

5 Circular & DDQ CD - 2011 215 215 0 215 105 1

6 DDQ CD - 2012 146 146 0 0 146 131.25 1

7 DDQ CD - 2013 18 0 2 0 2 105 1

8 37th RRC Papers (Hyderabad) 1 1 0 0 1 57.63 1

9 38th RRC Paper (Jaipur) 55 28 25 0 53 120 1

10 39th RRC Paper (New Delhi) 62 35 0 0 35 140.62 1

11 40th RRC Paper (Amritsar) 52 1 0 53 152.17 8,064

12 40th RRC Queries Paper (Amritsar) 48 0 0 48 60.48 1

13 Recent Amendments (2013) 24 13 9 0 22 75.71 1

14 Beginners Book – 2013-14 194 157 20 13 190 190.47 1

15 Beginners Book – 2014-15 62 5 0 0 5 309.09 1

16 17th NRRC 2 1 0 0 1 190 1

17 MSTT Digest 2009-14 25 75 0 100 286.98 28,698

18 Seminar Booklet – 14-12-2015 7 0 0 7 125.8 880

19 Short Publication - LBT 196 188 0 0 188 32.58 1

20 Short Publication - Service Tax 193 106 10 0 116 27.77 3,220

21 Table Referencers 2015-16 226 337 94 657 0 0

22 Pocket Referencers 2015-16 662 58 4 724 0 0

50,108

Other Publication

23 V. G. Mehta Ready Reckoner 0 1 0 1 450 450

Total 50,558

65th Annual Report


49

Sr. No.

Particulars 31-3-2016 `

31-3-2015 `

1 BEST Deposit 17,610 7,610

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

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

4 TDS on Interest Income 294,879 333,863

5 Accrued Interest Receivable 1,136,089 850,981

6 Expenses – Specialised Course on Service Tax 2014-15 - 207

7 Expenses – Workshop 2014-15 - 3,063

8 Service Tax 2015-16 (CENVAT) 33,411 98,299

9 Mass SMS – Advance 275 -

10 Prepaid Expenses for Repairs and Renewals 27,066 -

11 40th RRC – Kinjal Foods 19,000 -

12 40th RRC – IRCTC – Refund Receivable 35,615 -

13 Receivable from Club 7 Holidays (Advertisement Charges) 31,500

Total 1,642,210 1,340,788

Schedule IX : Advances, Receivable and Deposits (Assets)


50

Schedule X : Cash & Bank Balances

Schedule XA : Saving & Current Bank A/c

31-3-2016

`

31-3-2015

`

1 With Bank of India – Mazgaon Branch – C/A No. – 1816 592,350 594,669

2 With Bank of India – Mazgaon Branch – C/A No. – 1817 114,208 343,757

3 With Bank of India – Mazgaon Branch – S/B A/c No. – 22635 101,328 90,749

Total 807,886 1,029,175

Schedule XB : Cash and Court Fee Stamps Balances

31-3-2016

`

31-3-2015

`

1 Cash on Hand 17,470 14,763

2 Court Fee Stamps 37,000 37,000

Total 54,470 51,763

65th Annual Report


51

Annexure B : Telephone Charges


31-3-2015 `

1 Mazgaon Tower 41,917 39,539

2 Mazgaon Library 25,765 32,826

3 Bandra Library 3,959 3,445

Total 71,641 75,810

The Sales Tax Practitioners' Association of Maharashtra

Annexure A : Expenses on Human Resources


31-3-2015 `

1 Salaries 922,020 797,887

2 Staff Leave Encashments 216,780 -

3 Bonus to Staff 79,085 66,635

4 Employers Cont. to P.F. 76,074 64,368

5 Medical Allowance 79,085 60,135

6 Group Gratuity Policy Premium 57,561 96,320

7 Staff Welfare 28,048 29,737

Total 1,458,653 1,115,082


52

Annexure C : Journal (Sales Tax Review) A/c for the Year Ended 31-3-2016

Year Ended 31-3-2015

`

Expenditure Year Ended 31-3-2016

`

Year Ended 31-3-2015

`

Income Year Ended 31-3-2016

`

1,152,340 Paper & Printing Charges of Journal

1,107,470 458,000 Subscription from Non-Members

401,000

206,307 Postal & Courier Charges

130,057 328,800 Service Charges for S.T.R. from Life Members

334,800

114,700 Advertisements Receipts 75,000

8,171 Interest on Saving A/c with bank

3,579

3,450 Retail Sales 600

1,358,647 Total Expenses 1,237,527 913,121 Total Income 814,979

445,526 Excess of Expenses over Income

422,548

1,358,647 Total 1,237,527 1,358,647 Total 1,237,527

65th Annual Report


53

Statement of Books as on 31-3-2016

Annexure D

Own Publication A B C D E

Op. Stock`

Purchases`

Sales`

Cl. Stock `

Surplus`

Books & Bulletin A/c 40,014 106,615 130,450 40,876 24,697

CJ CD 5,712 0 2,400 4,620 1,308

Sale of Forms (L. A.) 5,228 - 750 4,612 134

Total 50,954 106,615 133,600 50,108 26,139

Opening Stock A 50,954 Sales C 133,600

Add:— Purchase B 106,615 Add:— Closing Stock D 50,108

157,569 183,708

Surplus 26,139

Total 183,708 183,708

Annexure D-I

Own Publication A B C D E

Op. Stock`

Purchases`

Sales`

Cl. Stock `

Surplus`

New Book Corporation 0 34,119 45,532 0 11,413

Law Times Bombay 0 8,187 10,916 0 2,729

V. G. Mehta I.T.R.R. 0 22,500 29,400 450 7,350

MCTC - Budget Book 0 1,300 1,300 0 0

All India Fed. TP (17th Convention) 0 11,880 14,040 0 2,160

Total 0 77,986 101,188 450 23,652

Opening Stock A 0 Sales C 101,188

Add:— Purchase B 77,986 Add:— Closing Stock D 450

77,986 101,638

Surplus 23,652

Total 101,638 101,638


54

An

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65th Annual Report


55

Annexure F : Details of Library Expenses


31-3-2015 `

1 Newspapers & Periodicals & STC Online 63,860 68,665

2 Electricity Charges 67,992 56,980

3 Bandra Office Expenses 7,666 4,587

4 Book Binding Charges - -

5 Library Cleaning Charges 10,300 7,400

6 Subscription Membership (IMC) 3,648 3,200

7 Misc. Expenses & Cleaning Materials 8,279 8,432

161,745 149,264

Less : Sale of Raddi 1,150 780

Total 160,595 148,484


56

Annexure G : Account for 40th RRC at Amritsar, between 20th February, 2016 and 23rd February, 2016

Expenditure Amount ` Income Amount `Hotel Charges 2,035,425 Delegates Fees 2,856,247Pre-Visit Expenses 38,649Bus Charges 105,000 Less :- Refund of Delegates 84,647

CancelledTrain Ticket Charges 93,632 Less :- Refund of Train 35,615Less :- Train Cancelled Receivable from IRTC

35,615 58,017 Tickets 120,262 2,735,985

Memento to Chief Guests/Speakers

15,010

Train - Tea & Snacks 78,120Sight Seeing Charges 1,060Gala Dinner 5,219Banner 2,035RRC Folder, Pen & Writing Pad and Delegates Mementos

144,940

I-card Charges Delegates 8,568SMS Charges 7,955RRC Misc. Expenses 18,040RRC Paper Printing Charges (175*156) 33,135Xerox Charges 2,567Courier Charges 7,174Total Expenses 2,560,914Surplus 175,071

2,735,985 2,735,985

Expenditure Amount ` Income Amount `Cost of Balance Paper Sale of Papers 40th RRC Paper (74*152.17) 11,261 40th RRC Paper (18*250) 4,500Brain's Trust Queries ( 49*60.48) 0 Complimentary

40th RRC Paper (3*250)Brain's Trust Queries ( 1*60.48)Stock of Books

Surplus 1,304 40th RRC Paper (53*152.17) 8,065( Trf to Books & Bulletin A/c) Brain's Trust Queries ( 48*60.48) 0

12,565 12,565

65th Annual Report


57

Annexure GI : Account for full Day Seminar at Navin Thakkar Auditorium on 14th December, 2015

Expenditure Amount ` Income Amount `Auditorium Charges 35,156 Delegates Fees 261 x 1,000 261,000A.C & Electricity Charges 8,040 Non-Members 25 x 1,500 37,500

286 298,500Catering Charges 165,000 298,500Xerox Charges 200Memento to DelegatesFolder (300 x 14.06) 4,219 Advertisement Charges 7,000Pen (300 x 7.87) 2,362 (Sonal Infosystem)Writing Pad (300 x 5) 1,500

8,081 8,081Memento to Speaker 9,010Photo Charges & Video Shooting 13,065SMS Charges (25014 x .35) 8,755Printing Charges of BooksThe Goods & Service Tax Act, 2016For Delegates - 286*125.80 35,981Complimentary - 5*125.80 629 36,610Misc Expenses 11,199

295,116

Surplus 10,384

Total 305,500 Total 305,500

Expenditure Amount ` Income Amount `Cost of Balance Paper 2,390 Sale of Papers 1,800(19 x 125.80) (12 x 150)Surplus 291 Stock of Papers 881(Trs to Books & Bulletin A/c) (7 x 125.80)

2,681 2,681


58

Annexure GII : Proportionate Account for Specialised Course on Service Tax 2014-15

Expenditure Amount `

Income Amount `

Delegates Fees :-

Tea Bill / Snacks 32,859

Members 57 X 1,500 = 85,500

Xerox Charges 8,853 Non-Members 10 X 2,000 = 20,000

67 105,500 105,500

Memento to Speakers 5,051

Misc. Charges 0

Photographer Charges 225

SMS Charges (8456 * 0.35) 2,960

49,948

Surplus 55,552

Total 105,500 Total 105,500

65th Annual Report


59

An

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65th Annual Report


61

Annexure - GV – Seminar on Real Estate Development Dated 7th & 8th August, 2015

Venue : Terrace Hall, West End Hotel, New Marine Lines, Mumbai Joint Income & Expenditure Account

INCOME

AIFTP CTC STPAM Total

Particulars Members Fees Members Fees Members Fees Members Fees

Delegate Fees:

Fees from Members before 10-07-2015 @ 2750/-

11 30,250 28 77,000 0 0 39 107,250

Fees from Non – Members before 10-07-2015 @ 3250/-

1 3,250 4 13,000 0 0 5 16,250

Fees from Members after 10-07-2015 @ 3000/-

16 48,000 28 84,000 8 24,000 52 156,000

Fees from Non - Members after 10-07-2015 @ 3500/-

3 10,500 14 49,000 1 3,500 18 63,000

Total Fees 31 92,000 74 223,000 9 27,500 114 342,500

0 0

Less : Refund to Delegates: 0 4 11,000 0 4 11,000

0 1 3,500 0 1 3,500

Total Refund 0 0 5 14,500 0 0 5 14,500

Total Income 31 92,000 69 208,500 9 27,500 109 328,000


62

Annexure - GV – Seminar on Real Estate Development Dated 7th & 8th August, 2015

Venue : Terrace Hall, West End Hotel, New Marine Lines, Mumbai Joint Income & Expenditure Account

EXPENSES

Particulars AIFTP CTC STPAM Total

1 Venue Charges 162,396 162,396

2 Memento 9,240 9,240

For Speakers - Pens - 11

3 Photography Charges 6,100 6,100

4 For Delegates:

Folders 6,946 6,946

Pads 4,410 4,410

Pens 1,575 1,575

Xerox Copies of Study Material 23,707 23,707

5 Audio Visual Charges 14,850 14,850

6 Miscellaneous Expenes

Committee Meeting Exp 143 143

Hall / Catering Tips 1,000 1,000

Bislery, Mintos, Conveyance, Snacks & Xerox 479 479

FLEX Printing 2,174 2,174

7 SMS Charges 975 975

Total Expenses 0 233,020 975 233,995

SUMMARY

PARTICULARS AIFTP CTC STPAM TOTAL

INCOME 92,000 208,500 27,500 328,000

LESS EXPENSES 0 233,020 975 233,995

SURPLUS / DEFICIT 92,000 -24,520 26,525 94,005

PROFIT SHARING 31,335 31,335 31,335 94,005

DIFFERENCE 60,665 -55,855 -4,810

65th Annual Report


63

Annexure H : Proportionate Accounts for 29th Batch of Coaching Class from April, 2015 to June, 2015

Expenditure Amount Income AmountTea Bill / Snacks 7,951 Delegates Fees Recd. 28,278Xerox Charges 1,530 (Proportionate - 4 Lectures out of 18)Memento to Speaker 1,490 Members :–

Memento to Mock Tribunal 7,612Participants 57 x 1,250 = 71,250Photo Charges 555Student Certificate 4,725 Non-Members :-Projector Hire Charges 2,000 32 x 1,750 = 56,000Misc-Charges 207SMS Charges 2,772 127,250TOTAL 28,842

Deficit -564Total 28,278 Total 28,278

Annexure HI : Accounts for 30th Batch of Coaching Class From April, 2015 to March, 2016)

Expenditure Amount Income Amount

Tea Bill / Snacks 16,746 Delegates Fees Received 75,700

Xerox Charges 5,861

Memento to Speaker 13,870 Members :–

Misc-Charges 1,270 29 X 1,300 = 37,700

Photo Charges 1,380 Non Members :–

SMS Charges 8,297 19 X 2,000 = 38,000

Printing of Certificate for Students

2,221 48 75,700

TOTAL 49,645

Surplus 26,055

Total 75,700 Total 75,700


64

Annexure I : Proportionate Accounts for Intensive Study Course Meeting 2014-15 (From April, 2015 to June, 2015)


Tea Bill / Snacks 8,927 Delegates Fees Recd 46,827

Xerox Charges 3,058 8 Lectures out of 15

Memento to Speaker 350 Members :–

Misc-Charges 0 71 x 1,000 = 71,000

SMS Charges 194 Non Members :–

14 x 1,200 = 16,800

TOTAL 12,529 87,800

Surplus 34,298


Annexure II : Accounts for Coaching Classes – 2014-15 (From April, 2015 to March, 2016)



Xerox Charges 3,689

Memento to Speaker 9,950 Members :-

Misc-Charges 260 87 X 1,000 = 87,000

Photo Charges 480 Non Members :-

SMS Charges 7,358 12 X 1,200 = 14,400

99 101,400

TOTAL 54,102

Surplus 47,298

Total 101,400 Total 101,400

65th Annual Report


65

Annexure J : Accounts for Intensive Study Course on Service Tax 2015-16 (From April, 2015 to March, 2016)



Xerox Charges 1,461

Memento to Speaker 3,500 Members :–

Misc-Charges 30 25 X 1,000 = 25,000

SMS Charges 3,774 Non Members :–

7 X 1,250 = 8,750

TOTAL 16,990 32 33,750

Surplus 16,760


Annexure K : Ordinary Membership Fees

31-3-2016 `

31-3-2015 `

Local — Ordinary

` 1,500 x 1,338 Members 2,007,000 2,143,500

` 1,500 x 1,429 Members (Prev Year)

Outstation — Ordinary

` 1,250 x 953 Members 1,191,250 1,248,750

` 1,250 x 999 Members (Prev. Year)

Total 3,198,250 3,392,250


66

The Sales 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

Obsolete stock of Compliation 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 Annexures 'A' to 'K'

The Schedules/Annexures referred to above form an integral part of the Balance Sheets as at 31st March, 2016 and Income and Expenditure Account for the year ended 31st March, 2016.



65th Annual Report


67

Speakers at the Study Circle Meetings 2015-16 6th August, 2015

Adv. P. V. Surte

5th November, 2015

Adv. Ratan Samal

21st October, 2015

Adv. P. C. Joshi

26th November, 2015

CA Mayur R. Parekh

17th December, 2015

Adv. N. T. Nirale

10th March, 2016

CA. Mukund Chitale

14th March, 2016

Shri Prashant Patankar

11th April, 2016

Shri Nitin Shah

Inaugural Mega Guidance Cell Meeting held on 25th August, 2015On the dais from L to R: S/Shri D. V. Phad, Hon. Jt. Secretary, Pranav Kapadia, Hon. Treasurer, V. V. Bilolikar, Jt. Commissioner of Sales Tax (SCS–EIU), Vijay Sachiv, President, Pramod Dumre, Dy. Commissioner of Sales Tax (SCS–EIU), Dr. Shashank Dhond, Vice President, Bhaven Mehta, Convenor, Mega Guidance Cell Meeting

1st Inaugural Intensive Study Circle Meeting held on 3rd October, 2015

On the dais L to R : S / Shri Pradip Kapadia, Hon. Jt. Secretary, CA. Bharat Gosar – Group Leader for the session, Vijay M. Sachiv, President STPAM, Adv. C. B. Thakkar – Monitor for the session, Dr. S. S. Dhond, Vice-President, D. V. Phad, Hon. Jt. Secretary, Pravin Shinde, Convenor - Intensive Study Circle Meeting.


68

65th Foundation Day and Diwali Get-together Celebration held on 17th November, 2015

On the dais L to R : S/Shri Pradip R. Kapadia, Hon. Jt. Secretary, Pranav Kapadia - Hon.Treasurer, Vijay M. Sachiv, President, Maheshji Dube, Hasya Kavi, Speaker for the session, Dr. S. S. Dhond, Vice President, D. V. Phad, Hon. Jt. Secretary, at the 65th Foundation Day and Diwali get-together Celebration

Workshop on MVAT Act, Service Tax & Allied Laws organised Jointly by AIFTP (WZ), BCAS, CTC, STPAM, WIRC of ICAI & MCTC held on 5th December, 2015

On the dais at the Inaugural Joint Workshop from L to R : S/ Shri. Pradip Kapadia Hon. Jt. Secretary, Jayprakash Tiwari, President, MCTC, Shardul Shah, Council Member, WIRC of ICAI, Adv. C. B. Thakar, Speaker for the session, Vijay M. Sachiv, President STPAM, Chirag Parekh, Vice President AIFTP(WZ), Avinash Lalwani, President CTC, V. R. Rao, Convenor of Joint Workshop, STPAM.

Inaugural 30th Coaching Class Meeting held on 24th November, 2015

Full Day Seminar Demonstration on New Automation Module prepared by Sales Tax Department, Recent Amendment under MVAT Act and Overview of Model GST Act – 2016 held on 14th December, 2015

On the dais at the Inaugural 30th Coaching Class Meeting from L to R : S/ Shri Pradip Kapadia, Hon. Jt. Secretary, Adv. Deepak Bapat, Speaker for the session, Vijay Sachiv, President, D. V. Phad, Hon. Jt. Secretary, Sunil Joshi, Convenor - Coaching Class Committee.

On the dais L to R : S/Shri Vinod Mhaske, Convenor, L & R – VAT Committee, Harshad Kunwar, Assistant Commissioner of Sales Tax, Nitin Shaligram, Deputy Commissioner of Sales Tax, Vijay Sachiv, President, Pramod Dumre, Deputy Commissioner of Sales Tax, Gajanan Khanande, Deputy Commissioner of Sales Tax, Chandrakant Kumbhare, Assistant Commissioner of Sales Tax.

Last inside Cover

65th Annual Report


Public Meeting on Union Budget, 2016 organized Jointly with Ghatkopar CPE Study Circle, Forum of Free Enterprises, CTC and other various Association

on 3rd March, 2016

From L to R : S/Shri Chetan Suchak, Lions Club of Bombay uptown, Smt. Swati Kapadia, Forum of Free Enterprises, Dr. CA Kishor Gada, Convenor, Ghatkopar CPE Study Circle-WIRC, CA Mehul Shah, Faculty, Direct Tax, CA Pravin Navandar, Meeting Co-ordinator, CA Rajiv Luthia, Faculty, Service Tax, CA Arun Tawde, Faculty, Economics affairs, Adv. Vijay Sachiv, President, STPAM, CA Hitesh Shah, Vice President, CTC.

40th Residential Refresher Course at Hotel Hyatt, Amritsar from 20th February, 2016 to 23rd February, 2016

On the dais from L to R : S/Shri D. V. Phad, Hon. Jt. Secretary, Pranav Kapadia, Hon. Treasurer, Dr. Shashank Dhond, Vice President, Vijay Sachiv, President, S. S. Gaitonde, Past President of STPAM, Sachin R. Gandhi, Chairman, RRC Committee, Pradip Kapadia, Hon. Jt. Secretary, Aalok Mehta, Convenor, RRC Committee

Last Cover

Hon’ble Shri Ashwinkumar Deore, President of MSTT, lighting the lamp at the Inaugural of Mock Tribunal. Also seen from L to R: S/Shri Vjiay Sachiv, President, Dr. Shashank S. Dhond, Vice-President, Aalok Mehta, Member, Managing Committee, Pradip Kapadia, Hon. Jt. Secretary, Pranav Kapadia, Hon. Treasurer, Sunil Joshi, Convenor, Coaching Class, R. R. Gandhi, Member of MSTT, D. V. Phad, Hon. Jt. Secretary, Shubhada Tulankar, Member of MSTT, A. K. Jadhav, Jagiasi, Member of MSTT.

Entire Group at Canada

International Study Tour Organised by Club 7 Holidays Ltd. at Canada

Mock Tribunal of 30th Batch of Coaching Class held on 2nd April, 2016

Full Day Seminar on New Automation Module, Amendment as per Act No. L.A. Bill No. XVIII of 2016, dated 4-4-2016, (Excluding Amnesty Scheme) and Overview of Amnesty Scheme under BST Act / MVAT

Act / Prof. Tax Act – 2016 held on 28th April, 2016, at Navin Thakar Hall, Mumbai

Seen from L to R : S/Shri Vinod Mhaske, Convenor, L & R – VAT Committee, Pradip Kapadia, Hon. Jt. Secretary, Hon’ble Finance Minister, Shri Sudhir Mungantiwar, Vijay Sachiv, President, Hon’ble Commissioner of Sales Tax, Shri Rajiv Jalota, Dr. Shashank Dhond, Vice President, Pranav Kapadia, Hon. Treasurer.

MANAGING COMMITTEE MEMBERS 2015-16 · 20. Joint workshop on MVAT and Service Tax jointly with The...

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