DIPR Manipur

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Published on Sun, 02 Jul, 2017 Press Release

Imphal, July 01, 2017 (DIPR): Chief Minister Shri N. Biren said that Chartered Accountants not only monitor wrongdoings in financial matters but also help maintain financial discipline of the Government and people.

            He was speaking as the chief guest at the 68th Chartered Accountants’ Day celebration organised by the Institute of Chartered Accountants of India (ICAI), Manipur at Hotel Classic Grande, Chingmeirong today.

Shri N. Biren also urged the Chartered Accountants of the State to help educate the masses on the Goods and Services Tax, which has been rolled out from last midnight all over the country.

The Chief Minister said, “I believe that ICAI will continue to play an effective as well as constructive role in creating awareness about the benefits that GST will have in terms of fiscal discipline.”

He urged the CAs to organise workshops and seminars to sensitize the common people on the regulations and compliance requirements of the new tax regime.

“There are many who are not aware or confused about the implications of GST. CAs’ guidance on the matter is the need of the hour”, he observed.

Shri N. Biren stated that despite small in number, CAs in Manipur have been providing yeoman service to the people of the State in the fields of audit, taxation, finance and consultancy.

Assuring that the Government would always welcome the suggestions and recommendations from the CA fraternity on business and financial matters, the Chief Minister observed that it is the duty and obligation of the CAs to help the Government and people in delivering inclusive economic growth.

The Chief Minister said that ICAI was established with the objective of regulating accountancy profession in India and it is the second largest professional accounting body in the world in terms of membership with over 2,65,000 members as on date.

Apart from its regulatory role, which includes prescribing standard auditing procedures, laying down ethical standards, monitoring quality, ensuring standards of performance of members and exercising disciplinary jurisdiction, the other primary function of the institute is to administer the education and examination of CA course.

In his speech, Union Minister of State for Railways Shri Rajen Gohain termed rolling out of GST as a path breaking moment for the entire country. He observed that the new tax regime would not only improve the rate of tax collection but also reduce prices of most of the commodities and services.

Stating that prices of almost all the goods and services would be equal across the country under GST, the Union Minister contended the ultimate beneficiaries of the new tax regime would be the common people.

Chief Secretary Shri O. Nabakishore, Manipur Chamber of Commerce Vice-President Shri Basudeva and Chartered Accountants Shri KN Agarwal and Ksh Kunjabi also attended the celebration as presidium members.(DIPR)