MANAGING COMMITTEE MEMBERS 2012-13 · under the Chairmanship of the President, Shri Kishor Lulla, was headed by the Convenor, Shri Dinesh M. Tambde. During the year, the Committee

MANAGING COMMITTEE MEMBERS 2012-13

OFFICE BEARERS 2012-13

Seated from left to right: S/Shri Hiten Shah, Imm. Past President; Pravin Shah, Past President; Mrs. Nikita Badheka, Past President; Kishor Lulla, President; Suresh Sanghvi, Sr. Member, Deepak Bapat, Past President, Ashvin Acharya, Past President.

Standing from let to right: S/Shri Pravin Shinde, Pradip Kapadia, Raj Shah, Pranav Kapadia, Ashit Shah, Sachin Gandhi, Aalok Mehta, Pankaj Parekh, Vijay Sachiv, D. V. Phad, Dinesh Tambde, Amol Shirode, Sunil Khushlani, Dr. Shashank Dhond and Sunil Kala.

Seated from left to right: S/Shri Sachin Gandhi, Hon. Treasurer; Kishor Lulla, President, Pankaj Parekh, Vice President.

Standing from Left to right: Shri Vijay Sachiv and Dr. Shashank Dhond, Hon. Joint Secretaries.

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]/[email protected], • Website : www.stpam.org

Library : 1st Floor, 104, Vikrikar Bhavan, Mazgaon, Mumbai–400 010. Tel. : 6991 7321, 2373 7153 Fax : 2378 0483

Library : Suburban Vikrikar Bhavan, Ground Floor, A Wing, Bandra-Kurla Complex, Bandra (East), Mumbai–400 051. Tel. : 6991 7322

62nd ANNUAL REPORT(Report for the year 2012-13)

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

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Notice ----------------------------------------- 2

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

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

Annual Report ------------------------------ 5

Auditor’s Report ---------------------------39

Balance Sheet -----------------------------42

Income & Expenditure A/c --------------44

Schedules-----------------------------------48

Annexures ----------------------------------57

Signifi cant Accounting Policies --------71

CONTENTS





NOTICE

In Continuation of the 62nd Annual General Meeting Notice dated 25th April, 2013 all the Members are hereby informed that the time of the Annual General Meeting to be held on 26th July, 2013, is preponed and changed from 5.00 p.m. to 3.00 p.m. The Venue and Agenda remain the same.

Place : Mumbai Vijay M. SachivDated : 1st July, 2013 Dr. Shashank Dhond Jt. Hon. Secretaries.

62nd Annual Report

Sagacity, Service, Solidiarity Leads to Success

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62nd Annual General MeetingNOTICE TO MEMBERS

NOTICE is hereby given to all the members of the Association that the 62nd ANNUAL GENERAL MEETING of the Members will be held on Friday the 26th July, 2013 at 5.00 p.m. at the S.T.P. Association Library Hall, Room No.104, 1st Floor, Vikrikar Bhavan, Mazgaon, Mumbai – 400 010, wherein the following business will be transacted:

AGENDA1. To read and confirm the minutes of the last Annual General Meeting held on 20th

July, 2012.

2. To receive and adopt the audited statement of accounts of the Association, Sales Tax Review, Books and Bulletin and Contributory Judgment Scheme for the year ended 31st March, 2013 and the Balance Sheet as on that date and to receive and adopt the Annual Report of the Managing Committee for the year 2012-13(A copy of the report and accounts would be sent separately)

3. To appoint an Auditor for the year ending 31st March, 2014 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 Vijay M. SachivDated : 25th April, 2013 Dr. Shashank Dhond 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 26th June, 2013.

Note : 1. 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 year1. Strong representations before various authorities and meetings with the Commissioner of

Sales Tax for clarification and amendments to the MVAT Act, 2002 and various issues in the administration of the Act.

2. Release of book on ‘Digest of Decisions’ compiled by CA. Prem Chatpar

3. Twelve 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. Publication of monthly STPAM News Bulletin for Members; containing Circulars, Short Notes on Tribunal Judgments, Important Judgments on Allied Laws and other information regarding programmes organised by the Association, renewal of membership, etc.

6. Five Mega Guidance Cells at Mazgaon Library on various issues in Sales Tax and allied laws.

7. Successful workshops on Sales Tax and Service Tax jointly organised with AIFTP, CTC, BCAS and MCTC.

8. 37th Residential Refresher Course at Hotel Sitara, Ramoji Film City, Hyderabad with 168 participants.

9. A full day seminar on LBT & amendments to VAT at Mumbai.

10. 12th International Residential Refresher Course at South Africa with 61 participants as conducted, organised and operated by IBTC Pvt. Ltd.

11. Twenty two outstation seminars held at various districts of Maharashtra. during the year.

12. Coaching Classes held for the benefit of new as well as experienced members with a view to explain basics of VAT/CST & other Allied Laws.

13. 16th Non-Residential Refresher Course at Hotel Express Inn, Nashik from 13th October, 2012 to 14th October, 2012 jointly organised with Tax Practitioners’ Association, Nashik.

14. STPAM website updated in every respect.

15. Meetings with Trading Organisations at State Level & District Level to solve various issues under MVAT Act & LBT.

16. Release of short publications on “Sale by Transfer of Documents of Title to Goods u/s 6[2] of CST Act, 1956” and “Branch Transfer/Consignment Transfer under CST Act” written by Advocate C. B. Thakar.

17. Compilation of DDQ, Gazette, circulars and notifications from 2005 to 2012 & CJ from 2000 to 2012 in CD form compiled by Dr. Shashank Dhond.

18. Diwali Get-together, Foundation day of the STPAM & Blood donation camp were arranged on 3rd December, 2012.

19. Picnic at Doodhsagar.

20. The Tower office of the STPAM was renovated at the instance of initiative taken by the President Mr. Kishor Lulla. The R.C. Kale Committee Room was also extended so meetings of Managing Committee & others can be conveniently conducted.

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The Sales Tax Practitioners’ Association of Maharashtra

62nd Annual Report (Report for the year 2012-13)

We have pleasure in presenting the 62nd Annual Report of the activities of the Association during the period 2012-2013 along with the Audited Statement of Accounts and Balance Sheet as on 31-3-2013.

1. Election for the year 2012-13:

At the 61st Annual General Meeting held on 20th July, 2012, Shri Indubhai Shah, the Chief Election Officer informed the members present that exact number of valid nominations had been received for the various posts. Accordingly no election was required for the year 2012-13. 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 young and dynamic outstation member of the Association from Sangli Mr. Kishor Lulla – Advocate.

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 2013-14. The Committee was headed by our senior member, Shri Indubhai Shah as a Chief Election Officer.

3. Managing Committee:

At the first meeting of the Managing Committee Mrs. Nikita Badheka, Deepak Bapat and Tushar Joshi were unanimously co-opted as members of the Managing Committee for the year 2012-13. With their wealth of experience in the functioning of the Association, they guided the members of Managing Committee and the Office Bearers in the day to day issues arising before them.

The members of the Managing Committee for the year 2012-13 comprised young, enthusiastic and dynamic members who performed their functions with great zeal throughout the year. Up to the date of this report, 12 meetings of the Managing Committee were held. The details of attendance are given in Annexure “C”.


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4. Law & Representation Committee:

This Committee represents the Association in making valuable representations and suggestions on legal and administrative issues to the Sales Tax Department as well as to the Government. Besides representations, meetings, discussions with the Sales Tax Department and follow-up on the issues, it resulted in better and simplified administration of the law, thus achieving an important objective of the Association. The Committee for the year, under the Chairmanship of the President, Shri Kishor Lulla, was headed by the Convenor, Shri Dinesh M. Tambde. During the year, the Committee made numerous representations and organised various Study Circle meetings 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.

(A) Representations

The representations on the following subjects/matters were made during the year to the Sales Tax Authorities including the Commissioner of Sales Tax, the Principal Secretary, Finance Department and the Finance Minister.

SR. NO. DATE SUBJECT ADDRESSED TO

1 27/07/2012 Problems faced by the non-audit dealers in uploading last return and annexures for the year 2011-12.

The Joint Commissioner of Sales Tax

2 06/08/2012 Suggestions for amendment to MVAT and Allied Laws as per Previous representations.

The Commissioner of Sales Tax

3 10/09/2012 Gist of discussion and conclusion of meeting held on 27th August, 2012 with reference our letter of representation dated 6th August, 2012 in respect of extension of due date for filing VAT Audit Report


Dinesh Tambde Convenor

Kishor LullaChairman

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4 10/09/2012 Time barring provision for Existing E.C. holders under Profession Tax Act.


5 10/09/2012 Opportunity of hearing in case of :1. Application for declarations under C.S.T. Act.2. Application for cancellation of registration certificate under MVAT Act, CST Act, P.T. Act.3. Application for grant of R.C. /E.C. under MVAT Act, CST Act, P.T. Act.4. Application in form 316, 501 under MVAT Act. 5. Application for amendments in R.C.


6 15/09/2012 Provide Internal Circulars after Internal Circular No. 7A dt. 20th July, 2011

State Public Information Officer

7 20/09/2012 In case of builders and developersrepresentation for :(i) not to levy Late fee u/s 20(6) or penalty u/s. 29(8) (ii) not to recover Interest u/s 30(2)

The Joint Commissioner of Sales Tax

8 10/10/2012 Web-site (www.mahavat.gov.in) of Sales Tax Department of Maharashtra should be updated regularly.


9 10/10/2012 Problems in registration and issuance CST declarations (Ref. to discussion with departmental officers)


10 10/10/2012 Set-off to be allowed to the purchasing dealer to the extent it is paid by the selling dealer



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11 12/10/2012 Conclusions of Service Cell Meeting dt. 11-10-2012 (Follow up representation)


12 12/10/2012 Restoration of due date for filing VAT audit report as on 31st January.

The Principal Secretary

13 30/10/2012 Extension of dates for payment of tax, furnishing returns and application for ADM relief in case of builders/developers vide Trade Circular 14T of 2012


14 31/10/2012 1) Extension of dates for payment of tax, furnishing returns and application for ADM relief in case of builders/developers vide Trade Circular 14T of 2012

2) Extension of due date for submission Audit Report of builders


15 17/11/2012 Clarification regarding last date for submission of Form 704 in case of Developers for the periods 2006-07 to 2010-11


16 27/11/2012 Pending issues still not resolved though concluded by the Hon’ble Commissioner


17 27/11/2012 RTI Application for asking progress with regard to issues raised & concluded in service cell meeting

State Public Information Officer

18 21/12/2012 Problems of Sales Tax Department to be discussed

The Hon’ble Finance Minister of Maharashtra

19 27/12/2012 Request to extend due date of Form 704 for submitting Audit report under MVAT Act


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20 18/01/2013 Pending issues and problems still to be resolved


21 18/01/2013 Exemption to textile processors during the period from 8-4-2011 to 30-4-2012.


22 30/01/2013 Gist of discussion in meeting on 17th January, 2012


23 25/02/2013 Extension of due date for payment of taxes for the month of Jan. 2013.


24 06/02/2013 Partial disallowance of C-Forms covering all transaction of Sale effected during a Financial Year in accordance with Rule 12 of CST Act, 1956.


25 25/02/2013 Nodal or divisional officer to every dealer


26 25/02/2013 Request to issue the suitable instructions by way of Trade Circular to follow the FAQ while assessing the builder


27 19/03/2013 Pending Admn relief applications in case of Country Liquor Dealers


28 22/03/2013 Profession Tax notices sent to professionals


29 22/03/2013 Request to give appointment to discuss pending issues


30 01/07/2013 Due date of filing Annexures in cases of non audit dealers


(B) Study Circle Meetings:

Study Circle meetings are an important feature of the activities of the Association. The meetings addressed by seniors in the profession are designed to provide the members with valuable insights into the recent developments of law. Inaugural Study Circle Meeting was held on 9-8-2012 on the topic of ‘Position of Bona fide Dealer u/s 48(5) of MVAT Act’. The


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meeting was inaugurated by MST Tribunal President Hon’ble Shri A. D. Babrekar & the speaker was Shri V. Shridharan, Senior Advocate. The other Hon’ble Members of MSTT had also graced the occasion.

The details of the Study Circle meetings held during the year are given below:

Sr. No.

Date Subject Speaker

1 09/08/2012 Position of Bona fide Dealer u/s 48(5) of MVAT Act

Sr. Adv. V. Shridharan

2 13/09/2012 Applicability of Service Tax on Advocates & Tax Consultants

CA Ashit Shah

3 05/10/2012 Analysis of departmental action of prosecuting so called beneficiaries as if criminals

Adv. Vikramsingh Yadav

4 25/10/2012 Difficulties and solutions in carrying VAT Audit

CA Ajit Gokarna, Nagpur

5 12/12/2012 Right to Information Act (RTI) Shri Shailesh Gandhi, Ret. National Officer, RTI

6 17/01/2013 Defences against Section 48(5) of MVAT Act

Adv. C. B. Thakar

7 01/02/2013 Time barring Assessment & High Court Verdict

Adv. Deepak Bapat

8 05/03/2013 Service Tax in Union Budget Adv. Vidyadhar Apte

9 06/03/2013 Direct Tax in Union Budget 2013-14

CA Kishor Karia

10 01/04/2013 Local Body Tax (LBT) Adv. Kishor Lulla

11 12/04/2013 Amendments to MVAT Act, 2002 in State Budget 2013-14

CA Sujata Rangnekar

12 04/07/2013 Interest, Penalties & prosecution under MVAT Act

Adv. Ratan Samal

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(C) Seminars on Recent Amendments:

(1) Half day seminar was organised on 11th September, 2012 at Navinbhai Thakkar Auditorium, Vile Parle (East), Mumbai.

The details of the seminar are as follows:

Sr. No.

Subject Speaker

1 Practical aspect in computation and payment of VAT, Returns, Application for Administrative Relief and Form 704 in view of Trade Circular No. 14T of 2012

Adv. Deepak Bapat

2 Legal issues involved in SLP of MCHI before the Supreme Court

Adv. Nikita Badheka

3 What will happen if the developer fails to pay VAT before 30th October 2012 and precautions to be taken by developer in recovery of tax from buyer where possession is already given?

Adv. Vinayak Patkar

4 Amendments in the recent Budget Adv. Deepak Bapat, Adv. Nikita Badheka & Adv. Vinayak Patkar

(2) Full day seminar was organised on 4th June, 2013 at Navinbhai Thakkar Auditorium, Vile Parle (East), Mumbai.

The details of the seminar are as follows:

Sr. No.

Subject Speaker

1 (1) Disallowance u/s 48(5) & prosecution (2) Nodal officer based administration instead of several departments to be faced by a dealer and (3) View of the department in cases of CST transactions u/s 6(2) and judgment in the case of M/s. Ajay Trading Company

Hon'ble Commissioner of Sales Tax, Maharashtra Dr. Nitin Kareer

2 Controversies in implementation of LBT Adv. Deepak Bapat

3 Highlights of legal provisions of LBT Adv. Kishor Lulla

4 Amendments in the recent Budget CA Sujata Rangnekar


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Sr. No.

Subject Speaker

5 Issues in Assessments Adv. Nikita Badheka

6 VAT on Textiles and Assessment of Builders Adv. Vinayak Patkar

7 Status of 48(5) as on date Adv. C. B. Thakar

8 Concluding all topics Sr. Adv. P. C. Joshi

9 Brain’s Trust Session S/s. Shree P. C. Joshi, V.P.Patkar, C.B.Thakar, Nikita Badheka, Sujata Rangnekar, Deepak Bapat, Kishor Lulla

(D) Service Cell Meetings:

The Association was represented by the members of the Law and Representation Committee at the Service Cell meetings held by the Sales Tax Department. Various important issues were raised from time to time.

5. Journal Committee:

Our publication, Sales Tax Review, a monthly journal and mouth piece of members, is published uninterruptly, every month. This time Journal Committee was headed by Chief Editor Shri Pravin R. Shah and Associate Editor Shri Chirag S. Parekh under the guidance and support of the Editorial Board comprising Shri Ashvin A. Acharya, Late Shri B. C. Joshi, Shri S. S. Gaitonde, Shri P. V. Surte, Shri P. C. Joshi, Shri R. S. Pathak, Shri C. B. Thakar, Shri D. H. Joshi, Shri Vinayak Patkar and Smt. Nikita Badheka.

The journal comprising columns, articles, gist of case laws, gist of DDQ’s, recent amendments, etc. continue to be a constant companion of practitioners. The Journal Committee was headed by Smt. Nikita Badheka as the Chairperson and Shri Ashit Shah as the Convenor. The Committee rendered valuable assistance in the publication of the Sales Tax Review.

During the year seven special issues, on emerging and burning topics were published viz. two issues each on VAT audit & Developers/Builders and one issue

Ashit ShahConvenor

Pravin ShahEditor

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each on Service tax, Local Body Tax [LBT] & Late Mr. B.C. Joshi and total pages published were more than 2500, which shows the eagerness for dissemination of knowledge 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 and contribution throughout the year. Regular cartoons on various current topics on second cover page of the Review innovated by our beloved and dashing President Adv. Shri Kishor Lulla and drawn by Shri Ganesh Katkar, Sangli has become a popular feature.

6. Library Committee:

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

The Committee, under the Chairmanship of the President, Shri Kishor Lulla was headed by Convenor, Pravin V. Shinde. The said committee did the following works during the year.

1) Installed the CCTV camera at Mazgaon Library.

2) Purchased New Water Cooler at Mazgaon Library.

3) Polished the furniture at counter at Mazgaon Library.

4) Purchased the New Digital Camera.

5) Various books were purchased and publications were also subscribed. Detail of books purchased is given in Annexure ‘A’.

7. Books & Bulletin Committee:

The endeavour of the Association is to make available books at discounted rates to the members at the counters of both the libraries.

The Convenor of this Committee Shri Dharmen Shah under the Chairmanship of Hon. Treasurer Shri Sachin Gandhi ensured that the books are

Pravin ShindeConvenor


Sachin Gandhi Chairman

Dharmen ShahConvenor


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available to the members at the best discounts, and new books were also included in the stock of our library for reading & reference purpose.

8. Coaching Class Committee :

27th batch of coaching classes was organised under the able Chairmanship of our Past President Mr Hiten Shah, and his team Convenor Mr Vivekanand R Rao and Co-Convenor Mr Ashit Shah at our association’s library. We had 83 participants who were new entrant in the practice of taxation & students who were pursuing professional courses. This batch of coaching classes was inaugurated by our Past President Adv. C. B. Thakar on 6-10-2012.

9. Computer and Website Management :

This committee was headed by Adv. Ashvin Acharya as the Chairman and Shri Ashit Shah as the Convenor.

This year under the leadership of Adv. Ashvin Acharya and strong forthrightness of President Adv. Kishor Lulla, our website www.stpam.org has been revamped and redesigned. Several new concepts and facilities have been introduced such as (i) Members Directory from where member can search the contact details of other members; (ii) List of Committee Members, List of Past Presidents and List of Editors along with their contact details; (iii) Membership Forms, Membership Renewal Forms, Diary Order Forms can be downloaded from the website; (iv) Details of various events organised by Association along with their photographs; (v) Various publications published by the Association viz. Sales Tax Bulletin, Sales Tax Review, etc. can be viewed and down loaded; (vi) Bare Acts, Rules, Notification and Circulars issued under MVAT Act, CST Act and Service Tax Law; (viii) Judgments pronounced by Maharashtra Sales Tax Tribunal (MSTT) and High Courts. Moreover, an opinion poll has been created so that members can give their views on the current affairs.

A new feature which has been introduced this year was of online chatting the platform was activated and speaker of the Study Circle Meeting will be available

Ashvin AcharyaChairman

Ashit ShahConvenor

Hiten ShahChairman

Vivekanand RaoConvenor

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online on the chatting platform, so that members who are from outstation can take the benefit of the same. During the year more than 5-6 such online chatting programme were conducted and majority of the members including outstation Members have taken the benefit of the same.

Mr. Suresh Bothara & Mr. Sunil Dandekar both have rendered valuable guidance & suggestions for the improvement of our website and therefore thanks to both of them.

10. Accounting and Office Administration Committee:

This Committee was headed by the President, Shri Kishor Lulla as Chairman, and Convenor Shri Pravin V. Shinde. The Committee attended the day-to-day office administration issues to ensure smooth functioning of our office and provided valuable guidance to the staff on various issues. The staffs of Mazgaon Library and Bandra Library are reporting their work regularly to the Convenor. The Committee was regularly taking report from STPAM staff containing details of work completed and pending. The Committee also did the following work during the year.

1) As decided by the Committee many old books were distributed complementary to Coaching class students, Work Shop & Intensive Study Circle delegates and remaining were sold out as scrap and amount received there from credited to our bank account.

2) Renovation & Extension of the R.C. Kale Committee Meeting Room was done incurring total expenditure to the tune of ` 2,10,831/-. Mr. R. C. Kale out of love & affection towards the STPAM donated a sum of ` 2,05,500/- for this noble cause.

3) Painting, Plumbing, Electric fittings and Polishing at Mazgaon Tower Office.

4) Satyanarayan Pooja was performed by Mr. & Mrs. R.C. Kale at Tower office, Mumbai at the time of opening ceremony of Renovated R.C Kale Committee Meeting Room.

5) Installed the CCTV cameras at Mazgaon Tower Office & Library, Mazgaon.

6) One New Desk Top and Laptop purchased during the year.

7) Reduced the Cost of Printing & Stationery.

8) Drastic & useful changes in the staff of the office.

Pravin ShindeConvenor



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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 Jt Secretary Dr. Shashank Dhond as Chairman and Shri Dattatray V Phad as the Convenor, have taken great efforts in preparing the Gist of D D Q s and published in Sales Tax Review through out the financial year for the benefits of the members of the Association.

12. Mega Guidance Cell Committee :

Under the Chairmanship of Hon. Treasurer Shri Sachin Gandhi and Jt. Convenorship of Shri Dattatray Phad, and Shri Aalok Mehta, the guidance cell meetings were revived during the financial year 2012-13. Queries raised by the participant members were answered by the panel members in detail and expressed their views and experience in the subject matter.

The Mega Guidance cell meeting was inaugurated by Shri. R. B. Jadhav, Additional Commissioner of Sales Tax on 4th of September, 2012

The details of Mega Guidance Cell Meetings are as under :

Sr. No.


1 04/09/2012 Effect of Hawala/Suspicious Transactions on I T C under MVAT Act, 2002.

Shri. R. B. Jadhav, Additional Commissioner of Sales Tax

Shri Sunil Sangle, Joint Commr. of Sales Tax, Shri G. V. Bilolikar, Dy. Commr of Sales Tax

Dattatray Phad Convenor

Sachin GandhiChairman

Shashank Dhond Chairman

Dattatray PhadConvenor

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Sr. No.


2 17/10/2012 Refund issues under MVAT Act, 2002

Dr. Kishor Gohokar, Additional Commissioner of Sales Tax; Shri R. R. Patil, Joint Commissioner of Sales Tax (Refund Audit)

3 27/11/2012 Right To Information Act, 2005

Shri Shailesh Gandhi Retired Chief Information Commissioner of India

4 12/12/2012 Preparation of VAT Audit report and Form 704

Shri Madhukar Khandekar, FCA

5 14/06/2013 Issues Under Profession Tax Act, 1975

Shri Valmik V. Guthe, Joint Commissioner of Profession Tax

13. Intensive Study Course Committee : In this study course participants meet on the first

and third Saturday of every month to discuss intricate issues under the Sales Tax, Service Tax and allied Laws such as Profession Tax, LBT etc. Group leaders generate the discussion on the given subject and senior in the profession monitor the discussion and guide the participants. These interactive meetings were arranged in our Library at Mazgaon

Under the convenorship of CA Pranav Kapadia and Chairman Vice President Shri Pankaj Parekh, the Study course was inaugurated on 6th October, 2012 at the worthy hands of our President, Adv. Kishor Lulla and eminent faculty and Monitor of the first session Adv. C. B. Thakar.

The total enrolment for the Intensive Study Course was 103, which has created record of maximum number of participants in Intensive Study Course of the Association.

We are very much thankful to all the monitors and group leaders for providing their insights on various provisions under VAT, Service Tax, Profession Tax and LBT Law & We are also thankful to the participants for their enthusiasm and zeal for intense study and interactive meetings.

Pranav KapadiaConvenor

Pankaj ParekhChairman


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14. Non-Residential Refresher Course Committee :

The Association had organised 16th Non-Residential Refresher Course Jointly with the Tax Practitioners Association, Nashik in Hotel Express Inn, Nashik on 13th October, 2012 and 14th October, 2012 under the Chairmanship of Shri Chirag Parekh and Convenor Shri Sunil G. Khushalani.

The 16th NRRC was inaugurated by the Hon’ble Commissioner of Sales Tax, Maharashtra State Shri Sanjay Bhatia.

Shri Sanjay Bhatia gave an Inaugural Speech on the “Benefits of Meditation for Professionals Life” which was concluded with the remarks of Shri Kishor Lulla, President of the STPAM.

The NRRC had total 4 Technical Sessions and it benefited all delegates. It was a grand success. Members of T.P.A. Nashik have taken special efforts for the success of the 16th NRRC. The necessary details of the programme are as under:

SR. NO.

SUBJECT SPEAKER CHAIRMAN

1 Benefits of Meditation Chief Guest Hon'bleCommissioner of S. T. Shri Sanjay Bhatia

2 Works Contract Act vis-à-vis CST Act

Dr. Shashank Dhond Shri C. B. Thakar

3 Service Tax - Reverse Charge Mechanism & Negative List

CA Ankit Chande Shri Sunil Gabhawalla

4 Interest, Penalty & Prosecution under MVAT Act, 2002

Advocate Ashvin Acharya

Shri T. M. Chhatpar

Sunil KhushalaniConvenor

Chirag Parekh Chairman

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SR. NO.

SUBJECT SPEAKER CHAIRMAN

5 Brain Trust Trustees :S/Shri T.M. Chhatpar, Deepak Bapat, C.B. Thakar, Ashvin Acharya

15. Picnic Committee :

The Annual Picnic was held at Doodhsagar Spa Resort, Doodhsagar Goa from 17th August to 20th August, 2012. The Committee was headed by Shri Tushar Joshi as the Chairman and Convenor Shri Raj P. Shah. It was a relaxing moment in the hectic days of the year with a pleasant visit to Doodhsagar Waterfalls. The picnic was well attended by 61 delegates including outstation members in good number.

16. Publication Committee :

The Publication Committee undertakes the task of providing quality reference material at reasonable price to the members. Under the Chairmanship of our Vice President Shri Pankaj Parekh and Convenorship of Shri Aalok Mehta, the Publication Committee undertook the onerous task of publishing the compilation of the “Digest of Maharashtra Sales Tax Tribunal Decisions 2003-08” compiled by CA Prem Chhatpar which was released on 9th August, 2012 with the gracious hands of Shri A.D. Babrekar, Hon’ble President, Maharashtra Sales Tax Tribunal .

Short Publication on “Sale by Transfer of Documents of Title to Goods u/s 6(2) of CST Act, 1956 and Branch Transfer /Consignment Transfer under CST Act” Compiled by Advocate C. B. Thakar was also released for the benefits of the Members. Compilation of DDQ, Gazette, circulars and notifications from 2005 to 2012 & CJ from the years 2000 to 2012 in CD form were compiled by Dr Shashank Dhond & released with the gracious hands of Dr. Nitin Kareer, Hon’ble Commissioner of Sales Tax, Maharashtra State on 4th June, 2013.

Tushar JoshiChairman

Raj ShahConvenor

Aalok Mehta Convenor



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17. Referencer Committee (Part A) :

Referencer Committee (Part B) :

The STPAM Referencer on Sales Tax and Allied Laws has become a must for all concerned practicing in Sales Tax and Allied Laws. In this year also the Referencer Committee was divided in two parts,

Part A – Table Referencer, Pocket Referencer and Telephone Index, headed by the Vice-President Shri Pankaj Parekh as the Chairman and Shri Pradeep Kapadia, as the Convenor,

Part B – of the Referencer consists Gist of important provisions under MVAT Laws, CST Laws and Allied Laws; Judgments and Circulars, headed again by the Vice-President S T P A M Shri Pankaj Parekh as the Chairman and Shri Sunil Khushalani as the Convenor. This year, we could manage to publish & distribute the Referencer well within time.

18. 37th 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 Pravin R. Shah as Chairman along with Joint Convenors Aalok Mehta and Raj P. Shah. The 37th Residential Refresher Course was held from 9th January to 13th January, 2013 at Hotel Sitara – Ramoji Film City, Hyderabad. In all 168 participants attended the R.R.C. including good response from outstation members.

The details of papers submitted at the said RRC are as under:


Pradeep Kapadia Convenor


Sunil Khushalani Convenor

Pravin ShahChairman

Raj ShahConvenor

Aalok MehtaCo-Convenor

62nd Annual Report


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Sr. No.

Subject Speaker Chairman

1 Reference to other Legislations under MVA Act, 2002

Adv. Ratan Samal Adv. Vinayak Patkar

2 Divergences in MVAT Act, 2002 and Allied Laws

CA. Umesh Sharma Adv. Nikita Badheka

3 Brain Trust Session Trustees :Adv. V. P. PatkarAdv. C. B. ThakarAdv. Nikita Badheka

The R.R.C. was inaugurated by Hon’ble Justice of Allahabad High Court Shri Samudrala Govinda Rajulu.

The participants appreciated the refresher course by the excellent presentation of papers by the paper writers, group discussions and Chairmen’s remarks. The paper writers painstakingly highlighted the legal provisions, technical interpretation and the issues arising there from. 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 visits at Snow Park and Ramoji Film City.

19. Workshop on MVAT & Allied Laws Committee :

The Joint work shop on MVAT & Service Tax was successfully completed. This was the 4th Consecutive year for the work shop being jointly organized by 4 Associations; STPAM, C.T.C. B.C.A.S and A.I.F.T.P. This year one more Association i.e. The Malad Chamber of Tax Consultants (MCTC) had also joined the workshop. There were record 218 participants enrolled for the Joint work shop.

The workshop had in all 14 Technical sessions, spreaded over a period of 4 months from 6-12-2012 to 30-3-2013 and with 17 Eminent Speakers. Out of the above 6 technical sessions were on MVAT & CST, 5 technical sessions were on Service Tax and 3 technical sessions were ‘Jugalbandi’ sessions covering selected Topics involving taxability of both MVAT and Service Tax and two speakers were

Pranav KapadiaConvenor

Sachin GandhiChairman


22

called in each of those session, with one speaker each on MVAT and Service Tax delivering his talk and then joint issues on such topics were discussed by the participants and the speakers.

This committee was headed by Chairman and Hon. Treasurer Shri Sachin Gandhi and Shri Pranav P. Kapadia as Convenor. The work shop was inaugurated on 06-12-2012 jointly by Hon. Vice President of our Association Shri Pankaj Parekh, Hon. President of B.C.A.S. Shri Deepak Shah, Hon. President of CTC Shri Manoj Shah and Hon. President of MCTC Shri Sachin Gandhi.

20. Gazette Subscription & Compilation Committee :

Under the Chairmanship of Hon Jt. Secretary Shri Vijay Sachiv and Convenorship of Shri Dattatray V Phad, the Committee after detailed discussion in its committee meeting held on 3rd October 2012 at R C Kale Hall at Mazgaon Tower office, decided that the activity of Gazette subscription should be stopped as all Gazettes are now available on the website and hence members are not interested in subscribing for the Gazette. Further it is noticed that nobody has subscribed for the Gazette during the year.

21. Short Notes on Tribunal Judgments Committee :

This Committee undertakes the task of publishing short notes on the important recent decisions of the Maharashtra Sales Tax Tribunal. The Committee under the Chairmanship of Smt. Rupa Gami along with Convenor Shri Amol Shirode, and Jt. Convenor Shri Dharmen Shah, took great efforts to see that the maximum number of judgments are timely reported in the STPAM News Bulletin every month.

We are thankful to Shri D. M. Gala, Shri Pradeep Kshatraiya, Shri Shyam saboo, and Shri Hemant Patki who contributed their efforts in preparing the short notes on Tribunal Judgments in the News Bulletin.

Amol ShirodeConvenor

Rupa GamiChairperson

Dattatray PhadConvenor

Vijay SachivChairman

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22. Publicity & Liaisoning Committee :

This year President Shri Kishor Lulla had initiated a novel idea of forming Publicity & Liaisoning Committee which will be liaisoning between the Sales Tax Department and the Dealers. The problems that are faced by the Dealers would be addressed to the department authority and it would be the endeavour of this committee to resolve the same, thereby reduce the hardship faced by the dealers and make the functioning of the department smooth and friendly, and thereby have a win-win situation.

So under the Chairmanship of CA Pradip Kapadia and Convernor Mr. Taufik Mulani, and Joint Convernor Adv. Mr. Dinesh Tambde, many meetings were held between Dealers and Departmental officials. One unique meeting was held with Hon’ble Commissioner of Sales Tax attending nearly 500 dealers of around 50 Trade Associations from all over Maharashtra. Many problems were discussed & solved mostly of Iron & Steel dealers and their goods were taken out from risky commodity. This was one of the best things that has happened and our Association got lots of accolades and kudos for the same. Special thanks to Past President Adv. Deepak Bapat who has helped a lot for this Committee.

23. Finance & Accounts Committee :

The Committee under the Chairmanship of CA Shri U. M. Loonawat, and Treasurer Sachin Gandhi along with President Kishor Lulla, Vice President Pankaj Parekh, Pravin Shah, Jt. Secretaries Vijay Sachiv & Shashank Dhond, Pranav Kapadia, V. R. Ghelani, Pradip Kapadia, Suresh Sanghavi met at periodical intervals to review finance and accounts of the Association. The audited accounts for the year ended 31-3-2013 are printed along with this Annual Report.

The Committee thanks Chairman Shri U. M. Loonawat, all the members of Finance Committee and specially Mr. Mayur Parekh – Past President for their continuous guidance and constructive suggestions for financial matters & preparing and finalising accounts of the STPAM.

Taufi k Mulani Convenor

Pradip KapadiaChairman

Sachin Gandhi Hon. Treasurer

U. M. LoonawatChairman


24

24. Regional Centres and Outstation Seminars Committee :

The object of the Association is to spread activities and knowledge to each and every place in the State of Maharashtra.

This Committee was headed by President Shri Kishor Lulla as Chairman and Shri Pradeep Kshatriya as Convenor and Shri Taufik Mulani as Jt. Convenor.

During this year, the object of the Association was accomplished in real sense with the inspiration of the President Shri Kishor Lulla by successfully organising 22, a record break number of outstation seminars, in almost all the parts of the State of Maharashtra including remote places like Chandrapur, Wardha, Parbhani, Dhule & Beed, etc.

This has helped to increase the outstation membership of the Association. We thank all the local associations and the office bearers of all the Local association without the help of whom it was not possible to achieve our goal and to arrange outstation seminars in such a large number. We also thank all the eminent Speakers who have come to all outstation places for joint seminars in spite of their busy schedule.

The details of the outstation seminars held in this year along with names of local associations are as under :

Sr. No.

Date City Name of Local Association

1 11/08/2012 Amaravati Tax Bar Association, Amaravati

2 25/08/2012 Jalgaon Jalgaon District Tax Practitioner Association, AIFTP, Jalgaon Branch of WRIC of ICAI

3 16/09/2012 Sangli Taxation Consultant Asso, Sangli & Other Districts, Regional Conference on Taxation

4 07/10/2012 Aurangabad Tax Practitioner Association, Aurangabad, Aurangabad Branch of WIRC of ICAI and CREADI, Aurangabad

5 01/11/2012 Dhule Dhule Tax Practitioners Association

6 01/12/2012 Ratnagiri Ratnagiri Tax Practitioners Association & Ratnagiri Branch of WIRC of ICAI

Pradeep Kshatriya Convenor


62nd Annual Report


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Sr. No.

Date City Name of Local Association

7 16/12/2012 Chandrapur Chandrapur Tax Practitioners Association and Chandrapur Chamber of Commerce

8 17/12/2012 Wardha Wardha CPE Chapter of ICAI, Vidarbha Tax Practitioners Association, Nagpur

9 22/12/2012 Nanded Nanded Tax Practitioners Association10 23/12/2012 Latur Latur Tax Practitioners Association11 29/12/2012 Beed Beed Tax Practitioners Association12 30/12/2012 Solapur Solapur Tax Practitioners Association13 09/03/2013 Thane The Small Scale Industrial Association, Thane14 06/04/2013 Pune Western Maharashtra Tax Practitioners

Association, Pune15 07/04/2013 Nashik Tax Practitioners Association, Nashik16 27/04/2013 Ahmednagar The Ahmedngar Tax Practitioners Association17 28/04/2013 Malegaon Tax Practitioners Association, Malegaon18 09/06/2013 Sangli Tax Consultant Association, Sangli19 16/06/2013 Basmat,

HingoliHingoli District Tax Practitioner Association, Hingoli

20 17/06/2013 Dhule Dhule District Tax Practitioners Association, Dhule

21 22/06/2013 Nashik Tax Practitioners Association, Nashik22 30/06/2013 Igatpuri,

NashikBuilders Association of India (CREDAI) Nashik Branch

25. Contributory Judgments Compilation Committee : This Committee was headed by the President

Mr. Kishor Lulla as the Chairman and Mr.G. Y. Patwardhan as the Convenor. Contributory Judgments were completed up to December, 2012 including printing thereof. Thereafter printing of CJ has been discontinued as there was less response from the Members. Consequently, this activity is economically not viable. Therefore, it is decided to publish the same on website of the STPAM without any cost.

CD containing CJ from Jan. 2002 to Dec. 2012 is also published.

G. Y. Patwardhan Convenor



26

26. Core Committee on GST :

This Committee was headed by Senior Advocate P. C. Joshi as the Chairman & Advocate Vijay M. Sachiv as the Convenor thereof. This Committee comprised senior members as Members of this Committee. Basically, the Committee has two fold purposes as under:A] To prepare a draft of ‘The Indirect Tax

Practitioners Act of India’B] To chalk out the plan for persuasion with respective Ministry/Union

Government Authorities in order to establish ‘The Institute of Indirect Tax Practitioners of India’ with a view to welcome proposed new enactment titled as ‘Goods and Services Tax’ [GST].

In the Committee Meeting held on 10th December, 2012, the draft of ‘The Indirect Tax Practitioners Act of India’ was tabled for consideration of the Members present and also invited suggestions on the said draft. Special thanks to Past President Adv. Deepak Bapat for taking special efforts for the said Committee meeting.

27. STPAM News Bulletin :

Under the Chairmanship of President Shri Kishor Lulla, Co-ordinator Shri Pravin R. Shah and Joint Convenors Shri Dharmen Shah and Amol Shirode, we have regularly published news bulletins during the year.

The STPAM News Bulletin contains details of the 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, etc.

28. Core Committee on VAT :

This Committee was headed by Advocate Mr. Deepak Bapat as the Chairman & Mr. Dinesh Tambde as the Convenor thereof.

The meetings of Core Committee were held from time to time and the draft for enacting the Sales

Dharmen Shah Convenor


Vijay Sachiv Convenor

P. C. Joshi Chairman

Dinesh Tambde Convenor

Deepak BapatChairman

62nd Annual Report


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Tax Practitioners Act of Maharashtra was submitted to the Commissioner of Sales Tax in order to establish the Governing Body for STPs. Since then we have been continuously following up the matter with the Commissioner Office.

29. Foundation Day & Diwali Get-together :

The Foundation day on 17th November of the STPAM was celebrated along with Diwali Get-togather on 3rd December, 2012 at 104, Library, Mazgaon, Mumbai. On this auspicious day the cake was cut by the Vice President Mr. Pankaj Parekh. Adv. Shailesh Seth masterly delivered a speech based on Bhagavad Gita. Members present were very much influenced by the said speech.

On the same day, the Blood Camp was organised which was inaugurated by the Hon’ble Commissioner of Sales Tax Mr. Sanjay Bhatia.

The novel feature of this year was the Foundation Day of the STPAM was celebrated at almost all the districts of the Maharashtra State by respective outstation Tax Association.

30. Awards :

Awards 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. Various funds are created from donations received from well-wishers of the Association. The recipients of the awards/prizes will be felicitated at the forthcoming Annual General Meeting and the list of recipients will be published in the Sales Tax Review for July, 2013.

Sr. No.

Prize For Name of the Awardees Judge for selection

1 Best Article Writer in STR (April 2012 to March 2013)

CA Pranav Kapadia on 'Branch Transfer' in STR - October 2012

Adv. P. C. Joshi

2 Best Column Writer in STR (April 2012 to March 2013)

Adv. Nikita Badheka for Laws Update

Adv. P. C. Joshi

3 Best Speaker in Study Circle Meetings

Adv. Vidyadhar Apte, Pune for Service Tax in Union Budget

CA Sujata Rangnekar


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Sr. No.


4 Dr. Bharat D. Vasani Prize for Best Paper Writer in Non-Residential Refresher Course

CA Ankit Chande, Mulund ‘Works Contract Act vis-a -vis CST Act’ & ‘Service Tax – Reverse Charge Mechanism & Negative List’

Adv. C. B. Thakar

5 Best Paper Writer in 37th Residential Refresher Course

CA Umesh Sharma, Aurangabad - Divergences in MVAT Act, 2002 & Allied Laws

Adv. Vinayak Patkar

6 Appreciation Award for writing column titled as 'Do you Know ?' in STR during the year 2012-13

Adv. Moti B. Totlani President Kishor Lulla

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

Mr. Amar Shukla jointly with Mr. Subhodh Vora

CA Pankaj ParekhCA Pranav Kapadia

8 Best Sportsman NIL

9 Best Convenor Adv. Pradeep Kshatriya for Outstation Seminars

10 Best Convenor CA Aalok Mehta for 37th RRC

11 Best Convenor CA Dharmen Shah for News Bulletin

12 Best Convenor Mr. Amol Shirode for a. Short Notes & b. Active Help in web site, office administration and Law & Representation

President Adv. Kishor T. Lulla

62nd Annual Report


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Sr. No.


13 Appreciation Award for Arranging Excellent Arrangements in our NRRC and making the same a memorable one

Tax Practitioners Association, Nashik

President Adv. Kishor T. Lulla

14 T. B. Lulla Memorial Fund for best organiser for outstation seminar

Wardha CPE Chapter of ICAI President Adv. Kishor T. Lulla& Pradeep Kshatriya

15 Pourana Memorial Prize for securing highest percantage of marks (%) in B.Com. Examination

16 Gala & Gala Prize - for securing highest percentage of marks in paper of Accountancy paper in B.Com. Examination

17 Shri. Vadilal C. Shah Prize - for securing highest percentage of marks (%) at the H.S.C. Examination held in February, 2013.

18 Late Smt. Bhanuben H. Vora Prize for securing highest percentage of marks in M.Com. Examination


30

Sr. No.


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

20 Dr. Bharat D. Vasani Prize for securing highest percentage of marks in C.A. Exam

21 D.M. Gala Prize Fund

22 T. B. Lulla Memorial Fund for Best Participant of Moot Court Competition

23 M/s Chhajed & Doshi Prize - for securing highest percentage of marks (%) at the S.S.C Examination held in March, 2013.

24 Appreciation Award for Contributing Cartoons for The Sales Tax Review for the Year 2012-13

Shri Ganesh Katkar, Sangli President Kishor Lulla

25 Appreciation Award for providing Guidance and According his full support and co-operation for all the activities of our Association throughout the year

Adv. Deepak Bapat President Kishor Lulla

62nd Annual Report


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31. Obituary :

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

1. Mr. Y. R. Mukatiwala [Past President]

2. Mr. Bipin K. Trivedi

3. Mr. P.W. Deshpande [Kolhapur]

We pray to the Almighty to rest the souls of the above deceased in peace and give the strength to their bereaved family members to bear the irreparable loss.

4. Special obituary in respect of late Mr. B. C. Joshi [Past President]

Mr. B. C. Joshi Sir left for heavenly abode on 16th May, 2013. Lion of the sales tax profession has now become quiet. He was a senior Advocate and one of the founder members of the STPAM. He was a source of the strength and inspiration to other tax consultants. Some of his pioneering work in the Sales Tax field will go a long way in benefiting the future generations. Worth mentioning is the fact that he was a rare and great personality in tax arena.

Late Mr. B.C. Joshi was given highest honour by The Hon’ble Sales Tax Tribunal of Maharashtra by way of “Full Court Reference”.

We express our heart-felt condolences on this sad occasion. May the departed soul rest in peace and be a driving force to all of us. May God give Joshi Family the strength to bear this irreparable loss.

32. 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 Justice of Andhra Pradesh High Court Shri Samudrala Govinda Rajulu for addressing & inaugurating 37th RRC at Hyderabad.

2. President of Maharashtra Sales Tax Tribunal Shri A. D. Babrekar for inaugurating our Study Circle Meeting and releasing the book titled as “Digest of Maharashtra Sales Tax Tribunal Decisions 2003-08” compiled by Mr. Prem Chhatpar.


32

3. Hon’ble Commissioner of Sales Tax Shri Sanjay Bhatia for inaugurating the 16th NRRC at Nashik.

4. Hon’ble Commissioner of Sales Tax Dr. Nitin Kareer for Inaugurating the seminar held on 4th June, 2013 and releasing short publication written by Mr. C.B. Thakar & CD containing DDQ compiled by Dr. Shashank Dhond.

5. Hon’ble Commissioners of Sales Tax, Shri Sanjay Bhatia & Dr. Nitin Kareer for giving us patient hearing on various issues from time to time and for acceding to our suggestions.

6. Mr. R. B. Jadhav - Additional Comm. of Sales Tax for inaugurating Guidance Cell Meeting.

7. Joint Commissioner of Profession Tax Shri Valmik V. Guthe & his team for replying various queries on Profession Tax.

8. Special Thanks to Shri P. C. Joshi, Shri Pravin R. Shah, Shri Chirag Parekh, Shri Tushar Joshi, Shri Mayur Parekh and Shri Deepak Bapat our Past Presidents for providing their guidance, support and according their full co-operation throughout the year for carrying out the activities of our Association.

9. Members of the Editorial board of the Sales Tax Review, S/Shri Late B. C. Joshi, S. S. Gaitonde, P. V. Surte, P. C. Joshi, R. S. Pathak, C. B. Thakar, D. H. Joshi, Vinayak Patkar, Smt Nikita Badheka and Ashvin A. Acharya for providing valuable inputs and guidance for bringing out Sales Tax Review.

10. Editor Shri Pravin R Shah and Associate Editor Shri Chirag Parekh of the Sales Tax Review for rendering their selfless services during the year.

11. Shri C. B. Thakar - Advocate for Inaugurating the 27th Batch of Coaching Classes and Intensive Study Course.

12. VAT Officer SARS & Mr. Rajiv Terwadkar both from South Africa for explaining provisions of the GST of South Africa.

13. Mr. R. C. Kale & Lulla Charitable Trust for donating a sum of ` 2,05,500/- & ` 1,00,000/- respectively to the STPAM.

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

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

16. Member in Charge Shri U. M. Loonawat 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. Past Presidents S/Shri J. D. Rawal, J. D. Nankani, Ramesh J. Gandhi, Dhanesh N. Parikh, Chirag S. Parekh, Tushar P. Joshi and Deepak Bapat, for extending their support for arrangement of Picnic, RRC, NRRC and other activities.

18. Trustees for Brain Trust Session, Chairmen, Paper Writers, Speakers, Group Monitors and Group leaders, who have readily accepted our invitation to deliver, Lecture at Various Seminars, Work shops, Coaching Class and the Intensive Study Course meetings.

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

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

21. 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

• Outstation Tax Associations.

• Various Trade Organisations.


34

22. Judges for the various awards for selecting awardees.

23. All Senior Members, Editor and Compilers of the Short Publications, Referencer and Study Material for Beginners for checking and compiling the same.

24. Our statutory auditor Sheth Doshi and Associates, Chartered Accountants for Auditing the Accounts of our Association for the year 2012-13.

25. Management of the Sitara Hotel for excellent arrangements provided for 37th Residential Refresher Course held at Hyderabad.

26. Management of The Pavilion for the excellent arrangements for 15th Non Residential Refresher Course held at Kolhapur.

27. Mr. D. M. Gala, Past President for promptly verifying the Annual Report of the Association for the year 2012-13.

28. Management of Navinbhai Thakkar Auditorium, Mumbai for the excellent arrangements for Seminars held during the year 2012-13.

29. Printers M/s Finesse Graphics Pvt. Ltd for printing of Sales Tax review, STPAM Bulletin, Referencer, RRC paper, NRRC Paper and Short publications.

30. We also thank all those individuals and organisations who directly or indirectly helped us in organising various activities of the Association.

31. All Staff Members of the Association for their whole hearted support and co-operation extended throughout the year.

32. 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.

62nd Annual Report


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33. Thanks

We take this opportunity to thank all the members of our Association for their continued encouragement and constructive suggestions as well as according 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 anybody’s name or hurt any body’s feelings.

We do hope that the efforts put in by this Managing Committee under the leadership of Mr. Kishor Lulla are satisfactory and seek your constructive suggestions for further improvement by the incoming team.

Place : Mumbai Vijay Sachiv & Dr. Shashank DhondDate : 1st July, 2013 Hon. Jt. Secretaries


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Annexure A

List of Addition of Books at the library during the Year July-2012 to Jun 2013

Sr. No. Name of the Book Author

1 Income Tax Act & Rules, 2013 Taxman

2 Service Tax Volume - 1 Sunil Gabhawalla

3 Service Tax Volume - 2 Sunil Gabhawalla

4 Central Excise Tariff R. K. Jain

5 Central Excise Law Manual R. K. Jain

6 Custom Tariff R. K. Jain

7 Custom Law Manual R. K. Jain

8 LBT Act Sunil Dighe

9 V. G. Mehta’s Income Tax Ready Reckoner N. V. Mehta

10 Central Sales Tax Law - 1 K. Chaturvedi

11 Central Sales Tax Law - 1 K. Chaturvedi

62nd Annual Report


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Annexure B

Membership Chart

Type of Membership 31-3-2011 31-3-2012 31-3-2013

Donor Members 3 3 3

Patron Members 2 4 4

Life Members 854 935 967

Ordinary Local Members 1670 1534 1431

Ordinary Outstation Members 1146 1063 1005

Total 3675 3539 3410

Life Members Opening : 935

Less : Deceased during the year : 2

Add : Admission during Year : 34

Balance Life Members as on 31-03-2013 967


38

Annexure CManaging Committee Meeting Attendance Record

During July, 2012 to June, 2013

Name Designation Total Meeting

Meeting attended

Leave of absence

Kishor T. Lulla President 12 11 1

Pankaj K. Parekh Vice-President 12 11 1

Sachin R. Gandhi Hon. Treasurer 12 12 -

Vijay S. Sachiv Hon. Jt. Secretary 12 11 1

Dr. Shashank S. Dhond Hon. Jt. Secretary 12 11 1

Hiten Shah Ex. Off. Member 12 8 4

Pravin R. Shah Editor, STR 12 10 2

Aalok K. Mehta Member 12 10 2

Amol S. Shirode Member 12 11 1

Dinesh M. Tambde Member 12 12 -

Dattatray V. Phad Member 12 12 -

Govind.Y. Patwardhan Member 12 3 9

Dharmen R. Shah Member 12 9 3

Pravin V. Shinde Member 12 12 -

Pradip R. Kapadia Member 12 10 2

Pradeep D. Kshatriya Member 12 8 4

Pranav P. Kapadia Member 12 11 1

Shyam D. Saboo Member 12 4 8

Raj P. Shah Member 12 7 5

Taufik A. Mullani Member 12 4 8

Sunil G. Khushlani Member 12 9 3

Vivekanand R. Rao Member 12 11 1

Co-opted Members

Deepak K. Bapat Member 12 8 4

Nikita R. Badheka Member 12 6 6

Tushar P. Joshi Member 12 10 2

62nd Annual Report


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Report of an Auditor relating to Accounts Audited Under Sub-Section (2) of Section 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, Bombay

For the year ending 31st March, 2013

(a) Whether accounts are maintained regularly and in accordance with : Yes the provisions of the Act and the rules

(b) Whether receipts and disbursements are properly and correctly shown : Yesin the accounts

(c) Whether the cash balance and vouchers in the custody of the manager : Yesor trustee on the date of audit were in agreement with the accounts

(d) Whether all books, deeds, accounts, vouchers or other documents or : Yesrecords required by the auditor were produced before him

(e) Whether a register of movable and immovable properties is properly : Yesmaintained, the changes therein are communicated from time to timeto the regional office, and the defects and inaccuracies mentioned in the previous audit report have been duly complied with

(f) Whether the manager or trustee or any other person required by the : Yesauditor to appear before him did so and furnished the necessary information required by him

(g) Whether any property or funds of the Trust were applied for any : Noobject or purpose other than the object or purpose of the Trust

(h) The amounts of outstandings for more than one year and the amounts : Nilwritten off, if any

(i) Whether tenders were invited for repairs or construction involving N.A.expenditure exceeding ` 5000/-

(j) Whether any money of the public trust has been invested contrary to Nothe provision of Section 35

(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

(l) All cases of irregular, illegal or improper expenditure, or failure or : Noomission to recover monies or other property belonging to the public


40

trust or of loss or waste of money or other property thereof, and whethersuch 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 inthe management of the trust

(m) Whether the budget has been filed in the form provided by the rule : Yes16A

(n) Whether the maximum and minimum number of the trustees is : Yesmaintained

(o) Whether the meetings are held regularly as provided in such : Yes instrument

(p) Whether the minute books of the proceedings of the meeting is : Yes maintained

(q) Whether any of the turstees has any interest in the investment of the : No trust

(r) Whether any of the trustees is debtor or creditor of the trust : No

(s) Whether the irregularities pointed out by the auditors in the accounts : Yesof the previous year have been duly complied with by the trustees during the period of audit

(t) Any special matter which the auditor may think fit or necessary to : Nil bring to the notice of the Deputy of Assistant Charity Commissioner.

As per our report of even date For Sheth Doshi and Associates (Regd.) Chartered Accountants Firm No. 110052W

B. M. DoshiPlace : Mumbai ProprietorDated : 22nd June, 2013 Mem. No. 017370

62nd Annual Report


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Audited Statements of Accounts

and

Balance Sheet

for the period

01-04-2012 to 31-03-2013


42

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

Balance Sheet

TRUST FUND OR CORPUS : i) Admission Fees : I 1,052,078 Balance as per last Balance Sheet 1,135,178 83,100 Add : Received during the year 124,300 1,259,478 ii) Donor Membership Fees : 23,002 Balance as per last Balance Sheet 23,002 23,002 — Add : Received during the year — iii) Patron Membership Fees : 10,506 Balance as per last Balance Sheet 26,506 26,506 16,000 Add : Received during the year — iv) Life Membership Fees : II 3,203,301 Balance as per last Balance Sheet 3,731,301 528,000 Add : Received during the year 336,000 4,067,301 EARMARKED & OTHER FUNDS : 6,085,587 New Office Premises Fund 6,085,587 — Add : Received during the year 205,500 6,291,087 OTHER FUNDS : 664,046 i) Felicitation / Memorial and Award Fund III 875,886 154,902 ii) Library Fund / Other Fund III-A 160,922 1,036,808 2,975,764 General Reserve (Contingency Fund & Litigation Fund have 2,975,764 2,975,764 been merged, no separate bifurcation have been shown) LIABILITIES : 271,222 For Expenses IVA 921,497 3,682,863 Advances & Deposits IVB 369,040 1,290,537 INCOME & EXPENDITURE A/c : 3,053,603 Balance as per last Balance Sheet 3,053,603 Add : Surplus/(Deficit) as per Income & 2,029,472 Expenditure A/c 5,083,075

21,803,974 Total 22,053,558

AS AT Funds & Liabilities Sche- AS AT 31.03.2012 dule 31.03.2013 ` `



62nd Annual Report


43

Association of MaharashtraSchedule VIII {Vide Rule 17(1)} Registration No. F-2522 (BOM)as at 31st March 2013

Kishor T. Lulla Pankaj K. Parekh Sachin R. Gandhi Vijay M. Sachiv President Vice President Hon. Treasurer Dr. Shashank Dhond Hon. Jt. Secretaries

2,501,725 Immovable Properties V 2,251,553

333,023 Other Fixed Assets VI 541,478

13,339,088 Investments VII 16,566,174

160,557 Closing Stock VIII 147,661

4,057,702 Advances & Deposits IX 2,055,238

Cash & Bank Balances :

1,382,092 Saving & Current Bank Account XA 439,806

29,787 Cash & Court Fees Stamps XB 51,648

21,803,974 Total 22,053,558

As At Property & Assets Sche- As At 31.03.2012 dule 31.03.2013 ` `


44

The Sales Tax Practitioners' Income and Expenditure Account

Year Ended Expenditure Annexure Year Ended 31.03.2012 31.03.2013 ` `

Establishment Expenses : 951,966 a) Expenses on Human Resources A 830,154 b) Administrative Expenses : 66,746 Electricity Charges 78,812 65,128 Telephone Charges B 76,694 156,022 Printing & Stationery 162,706 74,892 Postal & Courier Charges 82,927 17,942 Xerox and Printing Charges 15,681 15,708 Conveyance Charges 20,243 22,774 Sundry Expenses 49,820 64,331 Administrative & Contractual Service Charges 120,829 9,600 Prize Distribution Expenses (A.G.M ) 11,448 c) Professional Fees : 20,000 Audit Fees 20,000 58,031 d) Repairs & Maintenance Charges 132,867 e) Financial Charges : 3,544 Bank Charges 4,641 f) Expenditure in respect of Property : Major Maintenance Repairs Contribution 57,000 51,148 Society Charges 35,029 3,960 Insurance Charges 3,719 Expenditure on the Objects of the Association : Educational Expenses : 1,337,164 i Journal (Sales Tax Review) C 1,573,026 ii Publications : 220,773 Own Publications D 323,801 161,230 Other Publications DI 173,314 1,504,302 iii Referencer Printing Charges E 1,470,728 37,961 iv Study Circle Meetings 80,819 145,153 v Library Expenses F 158,101 424,069 vi News Bulletin (Including Printing & Courier Charges 452,296 distributed free to members)

5,412,444 c/f Total 5,934,655

62nd Annual Report


45

Association of Maharashtrafor the year ended 31st March 2013

Year Ended Income Annexure Year Ended 31.03.2012 31.03.2013 ` ` `

1,865,000 Membership Fees M 3,402,750 Income From Investments : 419,056 a) Interest on Company Deposits and Bonds 467,743 644,694 b) Interest on Bank Fixed Deposits 962,029 1,063,750 Total 1,429,772 45,306 Less:- i) Trans. to Felicitation/Memorial and 59,926 Award Fund 12,266 ii) Trans.to Library Fund 12,392 6,325 iii) Excess Provision in last year — 72,318 1,357,454 Income From Educational Activities : 614,848 i. Journal (Sales Tax Review) C 805,097 ii. Income from Sale of Publications : 252,157 a) Sale of Own Publications D 371,728 201,320 b) Sale of Other Publications DI 221,883 1,774,193 c) Publication of Referencer E 1,810,150 iii. Refresher Courses & Seminars : 2,655,700 a) 36th Residential Refresher Course at Mysore — b) 37th Residential Refresher Course at Hyderabad G 2,445,177 3,680,600 c) 10th International RRC at Europe — d) 11th International RRC at Dubai GI 3,381,720 e) 16th NRRC held on 13th &14th October, 2012 GIII 282,100 at Nashik

12,043,671 c/f Total 14,078,059


46

The Sales Tax Practitioners' Income and Expenditure Account

Year Ended Expenditure Annexure Year Ended 31.03.2012 31.03.2013 ` `

5,412,444 b/f 5,934,655 vii Expenditure on Refresher Courses & Seminars : 2,469,658 a) 36th Residential Refresher Course at Mysore — — b) 37th Residential Refresher Course at Hyderabad G 2,268,340 3,653,820 c) 10th International RRC at Europe — d) 11th International RRC at Dubai GI 3,331,750 e) 16th NRRC held on 13th & 14th October, 2012 at Nashik GIII 248,671 2,71,000 f) Full Day Seminar on Recent Amendments to MVAT Act, 2002 at — Navin Thakkar Auditorium on 10th May, 2011 — g) Full Day Seminar in Maharashtra Value Added Tax Act, 2002 at GIV 343,855 Navin Bhai Thakkar Auditorium on 16th June 2012 — h) Half Day Seminar at Navin Thakkar Auditorium on GV 111,311 11th September 2012 40,820 viii) Outstation Seminars 90,917 ix) Expenditure On other Educational Activities : 83,962 a) 26th Batch of Coaching Class — — b) 27th Batch of Coaching Class H 41,237 11,287 c) Intensive Study Course -2010-11 — 28,550 d) Intensive Study Course - 2011-12 I 5,569 — e) Intensive Study Course - 2012-13 J 40,722 Social Events : 238,477 a) Picnic at Ganpatipule — b) Picnic at Dudhsagar K 257,959 160,241 60th Year Celebration Function on 17.11.2011 — — Foundation Day Celebration 17.11.2012 L 40,404 20,441 AGM Meeting Expenses 23,266 76,280 Other Sub-Committee Meetings 99,344 33,142 Website Expenses 74,158 386,596 Depreciation 362,250 13,274,408 360,146 Excess of Income over Expenditure 2,029,472

13,246,864 Total 15,303,880


B. M. DoshiPlace : Mumbai ProprietorDated : 22nd June 2013 Mem. No. 017370

62nd Annual Report


47

Association of Maharashtrafor the year ended 31st March 2013

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

Year Ended Income Annexure Year Ended 31.03.2012 31.03.2013 ` `

12,043,671 b/f 14,078,059 439,900 f) Full Day Seminar on Recent Amendments to MVAT Act 2002 at Navin Thakkar Auditorium on 10th May, 2011 — g) Full Day Seminar on Maharashtra Value Added GIV 440,000 Tax Act, 2002 at Navin Bhai Thakkar Auditorium on 16th June 2012 — h) Half Day Seminar at Navin Thakkar Auditorium on GV 116,500 11th September 2012 Surplus from Seminar Jointly held 25,585 a) Joint Workshop On MVAT -10-11 26,317 b) Joint Workshop On MVAT -11-12 c) Joint Workshop On MVAT -12-13 GVI 37,249 d) 15th NRRC at Kolhapur GII 103,258 228,844 e) 14th NRRC on Indirect Taxes held on 17th & 18th June 2011 at Navin Thakkar Auditorium — f) Two Days Joint Seminar on Real Estate Transactions Legal GVII 55,930 Taxation & Accounting Aspect — Income from other Educational Activities : 89,000 a) 26th Batch of Coaching Class — — b) 27th Batch of Coaching Class H 76,673 26,895 c) Intensive Study Course - 2010-11 — 47,536 d) Intensive Study Course - 2011-12 I 25,164 — e) Intensive Study Course - 2012-13 J 70,446 Social Events : 241,000 a ) Picnic at Ganpatipule — — b ) Picnic at Dudhsagar K 244,900 42,601 c) 60th Year Celebration Function on 17.11.2011 — 30,101 Miscellaneous Income 46,341 5,414 Interest on Income Tax Refund 9,360

13,246,864 Total 15,303,880

Kishor T. Lulla Pankaj K. Parekh Sachin R. Gandhi Vijay M. Sachiv President Vice President Hon. Treasurer Dr. Shashank Dhond Hon. Jt. Secretaries


48

Schedules To Balance Sheet as at 31.03.2013

Schedule I

`

Admission Fees :

Received during the year

1 Life Members 31 X 800 24,800.00

3 X 500 1,500.00

2 Ordinary Members 196 X 500 98,000.00 124,300.00

124,300.00

Schedule II

`

Life Membership Fees :

Received during the Year 33 X 10,000 330,000

1 X 6,000 6,000 336,000.00

336,000.00

62nd Annual Report


49

Schedule III : Felicitation, Memorial & Awards Funds & Students Prize FundsSr. Name Op. Balance Received Add Less Prize Closing No. 01-04-2012 during the Interest given Balance year @8% 31-03-2013 ` ` ` ` `1 Past President Memorial Fund 47,137 — 3,771 1,400 49,508 i) 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 93,762 — 7,501 — 101,263 (For Conducting Lecture Series) 2 V. G. Varde & M. S. Sane & K.B.Kayastha 38,734 — 3,099 700 41,133 Memorial Fund (For Best Article in "Sales Tax Review") 3 Satishchand Laxmichand Memorial Fund 23,333 — 1,867 700 24,500 (For Best Pleader on Mock Tribunal) 4 Y. B. Raghuvanshi (Best Sportsman Award Fund) 2,085 — 167 167 2,0855 Rajkumar Adukia Foundation Fund 9,775 — 782 700 9,857 (For Best Group Leader in Intensive Study Course) 6 R. S. Bapat (Best Convenor Award) 7,005 — 560 560 7,0057 M. D. Ranade & R. S. Bapat (Best Paper 21,753 — 1,740 1,400 22,093 Writer RRC & Best Column Writer in STR) 8 Bharat D. Vasani Prize Fund 26,353 51000 5,508 700 82,161 (For Best Paper Writer in NRRC) 9 Smt. Bhanuben Vora Education Fund 22,044 — 1,764 — 23,808 (For securing highest percentage of marks in the M. Com. Examination) 10 Pourana & Gala & Gala Memorial Prize 27,395 — 2,192 251 29,336 i)For securing highest percentage of marks in the B. Com. Examination ii)For securing highest marks in the paper of Accountancy in the B.Com. Examination 11 Vadilal C. Shah Prize 13,448 — 1,076 251 14,273 (For securing highest percentage of marks in the H.S.C. Examination) 12 M/s Chhajed & Doshi Prize 12,236 — 979 251 12,964 (For securing highest percentage of marks in the S. S. C. Examination) 13 Bharat D. Vasani Prize Fund 60,063 — 4,805 3,006 61,862 (For C.A.- Final Exam. ) 14 T. B. Lulla Memorial Prize Fund 106,384 8,511 — 114,895 (For Best Participant of Moot Court Competition) 15 T.B.Lulla Memorial Prize Fund 100,000 2,667 — 102,667 (For Best Outstation Seminar) 16 D.M. Gala Prize Fund 78,594 — 6,288 — 84,88217 Other Fund 73,945 11,000 6,649 — 91,594 Total 664,046 162,000 59,926 10,086 875,886Schedule III ASr. Name Op. Balance Received Add Less Books Closing No. 01.04.2012 during the Interest Purchase Balance year @8% 31.03.2013 ` ` ` ` `1 Library Fund 154,902 — 12,392 6,372 160,922


50

Schedule IV : Liabilities

Schedule IVA : Liabilities For Expenses

Particulars 31.03.2013 31.03.2012 ` `1 Sheth Doshi & Associates (Audit & Professional Charges) 20,000 20,0002 Telephone Charges 8,497 8,1183 Courier Charges 23,363 5964 Electricity Charges 7,453 12,4055 Outstanding Creditors for Printing & Stationery 6,012 —6 Website Maintenance Charges 2,809 5,5667 Outstanding Expenses (Library) 700 —8 37th RRC at Hyderabad Refund to Delegates - Travelled 168,000 —9 37th RRC at Hyderabad Refund to Delegates - Cancelled 236,783 —10 26th Batch of Coaching Classes — 5,70011 Finesse Graphics & Prints Pvt. Ltd. (Sales Tax Review) 93,688 188,92012 All India Federation of Tax Practitioners' (Workshop) 26,317 26,31713 Refund of Membership Fees — 3,60014 Provision for TDS 2,512 —15 Provision for Service Tax 292,279 —16 Provision for Profession Tax 900 —17 New Books Corporation 5,834 —18 Picnic Refund to Delegates - Cancelled 26,350 — 921,497 271,222

Schedule IVB : Liabilities for Advances & Deposits Received Particulars 31.03.2013 31.3.2012 ` `

1 Gazette Subscription Scheme — 12,2012 Deposit for Lockers 72,125 72,1253 Excess of Membership Fees — 20,2654 Advance Admission Fees 300 8005 Advance Service Charges 950 1,3006 Advance Subscription 275 1507 Advance Membership Fees (Outstation) 12,465 —8 Advance Membership Fees (Local ) 6,350 1,2509 Advance Received for C. D. ( 2012-13) — 2,00010 Advance Received for Pocket Referencer (2012-13) — 6,82511 Advance Received for Table Referencer (2012-13) 150 51,02512 C.J. Scheme — 30,65813 11th IRRC at Dubai — 3,452,00014 15th NRRC at Kolhapur — 8,50015 Intensive Study Course 38,425 23,76416 C.J. Scheme 2012-13 238,000 — 369,040 3,682,863

62nd Annual Report


51

Fixed Assets

Schedule V : Immovable Properties

Particulars of Assets WDV Addition Deduction Total Rate of Depreci- Balance As on on or before on or after during Depre. ation up to as on 1.4.2012 30.9.2012 1.10.2012 the year % 31.03.2013 31.03.2013 ` ` ` ` ` ` ` `

Office Premises (A) 2501725 0 0 0 2501725 10% 250172 2251553

Schedule VI : Other Fixed Assets

Furniture & Fixtures 27,914 0 0 0 27,914 10% 2,791 25,123(Mazgaon Library) Furniture & Fixtures 33,410 0 205500 0 238,910 10% 13,616 225,294(Office) Furniture & Fixtures 15,346 0 0 0 15,346 10% 1,535 13,811(Bandra Library) Steel Lockers 5,961 0 0 0 5,961 15% 894 5,067Electric Fittings 19,977 0 0 0 19,977 15% 2,997 16,980Air Conditioners 38,876 0 0 0 38,876 15% 5,831 33,045EPBX System 2,910 0 0 0 2,910 15% 436 2,474Amplifier & Loudspeaker 39,460 0 0 0 39,460 15% 5,919 33,541Water Cooler 8,577 0 24750 2500 30,827 15% 3,143 27,684Computer 5,840 23500 21000 0 50,340 60% 23,904 26,436Camera 0 0 6000 0 6,000 15% 450 5,550CCTV Camera 0 0 25101 0 25,101 15% 1,883 23,218Cleaning Machine 0 0 1182 0 1,182 15% 89 1,093Fax Machine 5,833 0 0 0 5,833 15% 875 4,958LCD Projector 30,014 0 0 0 30,014 15% 4,502 25,512Printers 1,905 16000 0 0 17,905 60% 10,743 7,162Scanner 46 0 0 0 46 60% 28 18Software Package 1,522 0 0 0 1,522 60% 913 609Mass E-Mail Software 84 0 0 0 84 60% 50 34Mass SMS Software 224 0 0 0 224 60% 134 90Account Software Package 25,078 0 0 0 25,078 60% 15,047 10,031Attendance Recording 12,138 0 0 0 12,138 15% 1,821 10,317System Web Site 57,908 0 0 0 57,908 25% 14,477 43,431 (B) 333,023 39,500 283,533 2,500 653,556 112,078 541,478

Total ( A + B ) 2,834,748 39,500 283,533 2,500 3,155,281 362,250 2,793,031


52

Sch

edu

le V

II :

In

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Dt. o

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Dt. o

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Sr.

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Invest

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FDR

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Exce

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Intere

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.Bal o

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Total

No.

Pr

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Matu

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Intere

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Rece

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Pr

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Intere

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Am

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Du

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sion i

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Up To

Am

t. of

Accru

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In F.D

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FD

R FD

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ar

the Pe

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e 31

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13

F.D.R.

Int

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01.04

.2012

01

.04.12

the

Perio

d

Perio

d

on

F.D.

R. 31

.03.13

N

o.

`

` `

` `

` `

` `

` `

`

Inv

estme

nt In

Comp

any D

epos

it (W

ith H

.D.F.C

.)

1 BM

/9598

450

01.06

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01

.06.20

12

1,87

9,278

45

5,954

—

1,

879,2

78

410,3

68

45,58

6 30

,613

—

—

—

-

2

10.06

.2012

10

.07.20

15

—

2,

317,1

97

—

18

8,634

—

2,31

7,197

—

2,31

7,197

3

BM/10

3195

50

13.08

.2010

13

.08.20

13

50,00

0 6,

327

—

—

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7 —

—

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1 50

,000

10,54

8 60

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4 BM

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9529

16

.08.20

10

16.08

.2013

50

,000

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6 —

—

6,

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—

—

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275

50,00

0 10

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60,57

1

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(A

) 1,

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78

468,5

77

2,31

7,197

1,

879,2

78

422,9

91

45,58

6 21

9,247

8,

496

2,41

7,197

21

,119

2,43

8,316

22

7,744

G.O.

I Bon

ds

5

AXIS

Bank

20

.10.20

10

20.10

.2016

3,

000,0

00

38,79

5 —

—

38

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—

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5 3,

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00

38,79

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38

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38,79

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Inv

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F.D

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6 32

4 03

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03.04

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4 4,

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388

—

—

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7 72

21

30.01

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30

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3,00

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—

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00

41,15

6 4,

570

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81

—

—

—

—

8 72

22

30.01

.2012

30

.01.20

13

529,9

11

8,07

7 —

529,9

11

7,26

7 81

0 41

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—

—

—

—

9 72

23

30.01

.2012

30

.01.20

13

529,9

00

8,07

7 —

52

9,900

7,

277

800

41,61

2 —

—

—

—

10

6806

27

.04.20

11

27.04

.2012

1,

000,0

00

85,91

9 —

1,00

0,000

77

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8,60

0 6,

921

—

—

—

—

11

6807

27

.04.20

11

27.04

.2012

30

0,000

25

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—

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23

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2,58

0 2,

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—

—

—

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18

.02.20

12

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50

0,000

5,

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0,000

5,

323

—

41

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—

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66

13.07

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13

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1,50

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—

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00

88,62

8 9,

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40,74

7 —

—

—

—

14

72

93

21.03

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21

.03.20

13

500,0

00

1,21

0

500,0

00

1,21

0 —

45,33

2

15

32

4 03

.04.20

12

03.04

.2013

—

—

50

0,000

—

—

—

—

47

,480

500,0

00

42,74

0 54

2,740

16

75

4 22

.12.20

12

22.12

.2013

—

—

50

0,000

—

—

—

—

12

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500,0

00

11,12

3 51

1,123

17

75

5 22

.12.20

12

22.12

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—

—

50

0,000

—

—

—

—

12

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500,0

00

11,12

3 51

1,123

18

73

49

27.04

.2012

27

.04.20

13

—

—

1,00

0,000

—

—

—

—

88

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1,00

0,000

79

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1,07

9,545

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73

50

27.04

.2012

27

.04.20

13

—

—

300,0

00

—

—

—

—

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2 30

0,000

23

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323,8

62

20

7379

16

.05.20

12

16.05

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—

—

1,

000,0

00

—

—

—

—

83,07

3 1,

000,0

00

74,76

3 1,

074,7

63

21

7380

16

.05.20

12

16.05

.2013

—

—

50

0,000

—

—

—

—

41

,537

500,0

00

37,38

7 53

7,387

22

74

88

14.07

.2012

14

.07.20

13

—

—

1,50

0,000

—

—

—

—

10

0,879

1,

500,0

00

90,78

9 1,

590,7

89

23

7764

01

.01.20

13

01.07

.2013

—

—

40

0,000

—

—

—

—

7,

914

400,0

00

7,12

4 40

7,124

24

78

34

07.02

.2013

07

.02.20

14

—

—

3,25

3,177

—

—

—

—

43

,288

3,25

3,177

38

,958

3,29

2,135

25

78

35

07.02

.2013

07

.02.20

14

—

—

574,6

29

—

—

—

—

7,

646

574,6

29

6,87

6 58

1,505

26

7836

07

.02.20

13

07.02

.2014

—

—

57

4,629

—

—

—

—

7,

646

574,6

29

6,88

6 58

1,515

27

72

45

18.02

.2013

18

.02.20

14

546,5

42

—

—

—

5,81

8 54

6,542

5,

818

552,3

60

28

772

20.12

.2012

07

.01.20

13

1,00

0,000

1,

000,0

00

—

—

1,84

9 —

—

—

—

29

773

20.12

.2012

07

.01.20

13

500,0

00

500,0

00

—

—

925

—

—

—

—

30

Matur

ed

18.09

.2012

22

.12.20

12

500,0

00

500,0

00

—

—

9,43

5 —

—

—

—

31

Ma

tured

18

.09.20

12

22.12

.2012

50

0,000

50

0,000

—

—

9,

435

—

—

—

—

Total

(C)

8,35

9,811

32

4,740

13

,648,9

77

10,85

9,811

29

2,900

31

,840

477,1

33

484,8

94

11,14

8,977

43

6,994

11

,585,9

71

962,0

28

To

tal (A

+B+C

)

13

,339,0

89

832,1

12

15,96

6,174

12

,739,0

89

754,6

86

77,42

6 89

7,585

53

2,185

16

,566,1

74

496,9

08

17,06

3,082

1,

429,7

72

CLOS

ING

BALA

NCES

OF

PRIN

CIPL

E AM

OUNT

AC

CRUE

D IN

TERE

ST

496

,908

IN

TERE

ST R

ECEI

VED

1 HD

FC C

O. D

EPOS

ITS

2,4

17,1

97

ADD

: TDS

REC

OVER

ED F

ROM

BAN

K

1,6

10

1 IN

TERE

ST O

N CO

DEP

OSIT

S

227,

744

2 GO

I AXI

S BA

NK B

ONDS

3

,000

,000

1,

621

2 IN

TERE

ST O

N GO

I AXI

S BA

NK B

ONDS

24

0,00

0

3 BA

NK O

F IN

DIA

F.D

11,

148,

977

3 BA

NK O

F IN

DIA

9

62,0

28

TOTA

L IN

VEST

MEN

T 1

6,56

6,17

4

ACCR

UED

INTE

REST

AS

PER

SCH

IX

498,

529

TOTA

L IN

TERE

ST IN

COM

E 1,

429,

772

62nd Annual Report


53

Schedule VIII : Closing Stock as on 31.03.2013

Sr. Particulars Quantity Quantity Quantity Total Rate Closing No. Mazgaon Bandra Mazgaon Stock Tower Value

` `

OWN PUBLICATION

1 Compilation of MVAT 29 5 355 389 114.75 44,637 Rule C.D.

2 Compilation of Gazette & 4 — 153 157 94.50 14,836 Notification C.D.

3 C.J. (CD) New 7 10 131 148 84 12,432

4 Letter of Authority — — 20,750 20,750 0.41 8,507

5 Circular & DDQ C.D. 121 4 96 221 105 23,205

6 DDQ CD - 2012 — — — 164 131.25 21,525

7 36th RRC Papers (Mysore) — 6 — 6 133.61 1

8 37th RRC Papers (Hyderabad) — 5 69 74 57.63 4,264

9 Recent Amendments 2 3 13 18 65 1,170

10 MSTT Decisions 2 13 42 57 296 16,872

11 11th IRRC Paper — — — 1 95.35 1

12 16th NRRC Paper — — — 4 120.71 1

(A) 147,451

OTHER PUBLICATION

13 New Book Corporation Trade Circular 1 210 210

(B) 210

Total (A + B) 147,661


54

Sr. Particulars 31.03.2013 31.03.2012No. ` `

1 BEST 7,610 7,610

2 G.P.O. 12,834 12,834

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

4 TDS on Interest 315,825 312,790

5 Pre Paid Exp (Repairs & Maintenance) 18,482 20,902

6 Pre Paid Exp (News Paper & Periodicals) — 30,956

7 Advertisement Receivable (STR) 26,000 12,000

8 Accrued Interest Receivable 498,529 757,153

9 Publication Receivable 5,000 11,000

10 11th IRRC at Dubai — 2,700,000

11 12th IRRC at (IBTC Holidays) 500,000 —

12 15th NRRC At Kolhapur — 120,000

13 Bombay Chartered Accountants' Society (Workshop) 52,099 33,183

14 Chamber of Tax Consultants (Workshop) — 14,683

15 Mangal Prakashan 117 —

16 37th RRC Advertisement Receivable 15,750 —

17 C.J. Scheme 2011-12 (SCHEDULE IXA) 518,354 —

18 Malad Chamber of Tax Consultants 497 —

19 Service Tax Receivable - Membership - 2012-13 59,550 —

2,055,238 4,057,702

Schedule IX : Advances, Receivable and Deposits (Assets)

62nd Annual Report


55

Schedule IXA : Account for Contributory Judgments for the Period from April 2012 to March 2013

Particulars Amount `Opening Balance as on 01.04.2012 30658Contribution Received from Members During the year 01.04.12 to 31.03.2013 Contributory Judgments forthe year 2011-12 (A) 142,000 (A) 142,000 Additional Contribution of C.J. (B) 4,325 4,325 Opening Stock of C.J. C.D (i) 18,228(217 x 84) Sale of C.J. C.D (ii) 13,200(66 x 200) Complimentary 3 Copies Closing Stock of C.J. CD (iii) 12,432(148 x 84 ) [(ii+iii)-(i)] .(C) 7,404 7,404 (A+B+C) 153,729 153,729 184,387Less:- Expenses Printing Charges March, 2010 33,264 April, 10 to March, 2011 358,512 April, 11 to March, 2012 293,940 685,716

Courier Charges 17,025

702,741 702,741Closing Balance as on 31.03.2013 DEFICIT -518,354

Note : This is only a Receipt & Payment account of Contributory Judgment Scheme & not Income & Expenditure Account.


56

Schedule X : Cash & Bank Balances

Schedule XA : Saving & Current Bank A/C

31.03.2013 31.3.2012 ` `

1 With Bank of India - Mazgaon Branch - C/A No. - 1816 210,630 1,020,492

2 With Bank of India - Mazgaon Branch - C/A No. - 1817 29,707 220,968

3 With Bank of India - Mazgaon Branch - S/B A/C No. - 22635 199,469 140,632

TOTAL 439,806 1,382,092

Schedule XB : Cash And Court Fee Stamps Balances

31-03-2013 31-03-2012 ` `

1 Cash on Hand 39,648 17,787

2 Court Fee Stamps 12,000 12,000

TOTAL 51,648 29,787

62nd Annual Report


57

Annexure B : Telephone Charges :

Particulars 31.03.2013 31.03.2012 ` ` `

1 Mazgaon Tower 54,413 31,480

2 Library Mazgaon 19,893 28,462

3 Bandra Counter - Collection 0 Less :- Paid 1949 1949 3172

4 PCO Mazgaon Counter - Collection 0 100 1399Less : Paid 100

5 PCO Bandra Counter - Collection 85Less : Paid 424 339 615

TOTAL 76,694 65,128

The Sales Tax Practitioners' Association of Maharashtra

Annexure A : Expenses on Human Resources :

Particulars 31.03.2013 31.3.2012 ` `

1 Salaries 643,009 616,576

2 Bonus to Staff 49,759 49,212

3 Employers Cont. to P. F. 47,604 194,472

4 Medical Allowance 52,959 49,212

5 Group Gratuity Policy Premium 4,996 3,998

6 Staff Welfare 31,827 38,496

TOTAL 830,154 951,966


58

Annexure C : Journal (Sales Tax Review) A/C for the Year Ended 31.03.2013

Year Ended Expenditure Year Ended Year Ended Income Year Ended 31.03.2012 31.03.2013 31.03.2012 31.03.2013 ` ` ` `

1,622 Opening Stock 0 368250 Subscription from 424,000 Non-Members

1,213,040 Paper & Printing Charges 1,440,930 of Journal 146100 Service Charges for 292,200 S.T.R. from Life Members

1,500 Wrapping Material — 116,382 Postal & Courier Charges 121,346 89500 Advertisements Receipts 73,500

120 Bank Charges 150 6617 Interest on Saving A/C 10,537 with bank

4,500 Cartoon Expenses 10,600 4380 Retail Sales 4,860

1 Stock of Wrapping Material —

1,337,164 Total Expenses 1,573,026 614848 Total Income 805,097

722316 Excess of Expenses Over 767,929 Income

1,337,164 1,573,026 1337164 1,573,026

62nd Annual Report


59

Statement of Books as on 31.03.2013

Annexure - DOwn Publication A B C D E Op. Stock Purchases Sales Cl. stock Surplus

` ` ` ` `

Books & Bulletin A/c 131,511 181,476 233,896 126,511 47,420

Sale of Forms 10,814 0 2,813 8,508 507

TOTAL 142,325 181,476 236,709 135019 47,927

Opening Stock A 142,325 Sales C 236,709

Add : Purchases B 181,476 Add : Closing Stock D 135,019

323,801 371,728

Surplus 47,927

TOTAL 371,728 371,728

Annexure D-I

Other Publication A B C D E Op. Stock Purchases Sales Cl. Stock Surplus

` ` ` ` `

All About VAT (Rahul Jain) 7,700 9,450 0 1,750

New Book Corporation — 40,510 53,347 210 13,047

Law Times Bombay — 28,170 36,910 — 8,740

All India Federation — 8,400 11,200 — 2,800

Mangal Prakashan — 8,031 10,800 — 2,769

Soni & Co. — 17,503 24,970 — 7,467

V. G. Mehta I.T.R.R. — 57,000 68,996 — 11,996

Malad Chamber Budget Book — 6,000 6,000 — —

TOTAL 173,314 221,673 210 48,569


60

An

nex

ure

E :

Acc

oun

ts F

or R

efer

ence

r 20

12-1

3

EXPE

NDI

TURE

A

MO

UN

T `

INCO

ME

AM

OU

NT

`

Purc

hase

of P

aper

, CD

& P

rint

ing

Char

ges

STPA

M R

efer

ence

r

1.

Fin

esse

Gra

phic

s Pr

ints

Pvt

. Ltd

.

1,01

3,60

0

Maz

gaon

Boo

king

& C

ount

er S

ale

1,

685,

350

2.

Fine

sse

Mul

timed

ia P

vt. L

td.

45

7,12

8 1,

470,

728

Pock

et R

efer

ence

r

M

azga

on B

ooki

ng &

Cou

nter

Sal

e

82,2

00

C.

D.

M

azga

on B

ooki

ng &

Cou

nter

Sal

e

42,6

00

Su

rplu

s

33

9,42

2

1,

810,

150

1,81

0,15

0

62nd Annual Report


61

Annexure F : Details of Library Expenses

Particulars 31.03.2013 31.03.2012 ` `

1 News papers & Periodicals & STC Online 92,351 66,318

2 Electricity Charges 42,058 26,684

3 Bandra Office Expenses 2,036 3,911

4 Book Binding Charges 16,770 11,350

5 Library Cleaning Charges 8,400 8,400

6 Subcription Membership (IMC) 3,596 —

7 Misc. Expenses, Cleaning Materials and Stationery 2,066 29,348

Window Glass and Colour Charges of Cupboard 167,277 146,011

Less : Sale of Raddi 9,176 858

158,101 145,153


62

Annexure-GI Account for 11th International RRC at Dubai From 6th April 2012 to 11th April 2012

Expenditure Amount ` Income Amount `

Tour Charges Paid to Delegates Fees Received 3,544,000 Shreenathji Holidays 3,326,020 Less : Refund to Delegates 162,280 3,381,720 Printing Charges of Paper 3,230 Misc. Charges 2,500 Total Expenses 3,331,750 Surplus 49,970 3,381,720 3,381,720

Annexure G : Account for 37th RRC at Ramoji Film City, Hyderabad, between 10th January to 14th January, 2013

Expenditure Amount ` Income Amount ` Hotel Charges 1,806,969 Delegates Fees Recd. 2,804,960 Pre-Visit Expenses 21,194 Bus Charges 66,584 Less: Refund to Delegates Cancelled 236,783Train Ticket Charges 94,068 Less: Refund of Delegates Travelled 168,000 2,400,177Memento to Speakers & Chairman 14,020 RRC Tea & Snacks 26,238 RRC Advertisement 45,000RRC Sight Seeing Charges 59,955 RRC Folder , Pen & Writing Pad 11,563RRC Misc Expenses 12,123 Service Tax 147,291 RRC Paper Printing Charges 7,362(121*60.839) Complimentary 973(16 * 60.839) Total Expenses 2,268,340 Surplus 176,837 2,445,177 2,445,177

Appropriation A/c for Sale of RRC Papers


Cost of Balance Paper 7,970 Sale of Papers 7,800(131 x 60.839) (52 x 150)

Surplus Stock of Papers 4,806(Trs to Books & Bulletin A/c) 4,636 (79 x 60.839)

12,606 12,606

63

An

nex

ure

GII

: 1

5th

N.R

.R.C

Joi

ntl

y w

ith

A.I

.F.T

.P.

at P

avil

ion

Hot

el,

Kol

hap

ur

on 1

st t

o 3r

d J

un

e 20

12

EXPE

NDIT

URE

STPA

M

AIFT

P TO

TAL

IN

COM

E

ST

PAM

AI

FTP

TOTA

L

`Pr

evisi

t Exp

ense

s

17,8

00

—

17,8

00

Deleg

ates

Fee

s

39

0,75

0 —

39

0,75

0

Hote

l Cha

rges

360,

336

—

360,

336

S.T.

P.A.M

Conf

eren

ce H

all C

harg

es

11

8,09

0 —

11

8,09

0 M

embe

rs

168

X

2,00

0 33

6,00

0

Non

Mem

bers

18

X 2,

500

45,0

00 C

onfe

renc

e M

ater

ials

Spou

se

16

X

1,25

0 20

,000

Fo

lder

30

0 X 2

8.12

8,

438

401,

000

Writ

ing

Pad

30

0 X

25.2

7,

560

Le

ss :-

Ref

und

10

,250

Pe

n 30

0 X

21

6,30

0

A.I.F

.T.P.

22,2

98

2229

8 —

22

,298

M

embe

rs

110

X

2,00

0 22

0,00

0 —

265

,250

26

5,25

0Co

nfer

ence

Pap

er (4

00 *

1

90/-)

76,0

00

No

n M

embe

rs 1

0 X

2,50

0 25

,000

Ba

dges

(400

*

7/-)

2,

800

Sp

ouse

21

X 1,

250

26,2

50

Coup

ons (

400

* 2

/-)

800

271,

250

Inclu

de T

ax

180

Le

ss :-

Ref

und

6,

000

79

,780

—

79

,780

79

,780

Br

ouch

er P

rintin

g

—

18,9

00

18,9

00

Adve

rtise

men

t Cha

rges

151,

545

267,

500

419,

045

De

cora

ting

Char

ges f

or d

ais a

nd F

lowe

r Bou

quet

5,

000

5,

000

Sale

of P

aper

Boo

k (4

9 Pa

pers

)

11

,750

1,

000

12,7

50

(Sta

ll, S

ofa,

Chai

r Cha

rges

- Ja

ymal

a De

cora

tors

)-

15,0

00

15,0

00

So

und

Syste

m C

harg

es

—

17

,000

17

,000

St

ock

of P

aper

En

terta

inm

ent C

harg

es

—

25

,000

25

,000

M

emen

to to

Chi

ef G

uest

/ Pap

er W

riter

37,0

12

—

37,0

12

57

0 57

0&

Chai

rman

M

emen

to to

Dele

gate

s (La

ptop

Bag

s)

94,5

00

—

94,5

00

Misc

. Cha

rges

18,5

04

2,98

4 21

,488

Ho

tel T

ips

3,

500

—

3,50

0

Bus C

harg

es

4,

050

—

4,05

0 AI

FTP

3

X 19

0 57

0

M

eetin

g Ex

pens

es

—

2,

509

2,50

9

Ca

r Hire

Cha

rges

7,50

0 10

,000

17

,500

Trai

n Ti

cket

(S. S

. Gup

ta &

Rav

i)

—

4,

797

4,79

7 Re

ceiv

ed fr

om H

otel

Vish

wa S

ansk

ruti

3,00

0 3,

000

Re

ceiv

ed fr

om H

otel

Mar

atha

Reg

ency

1,40

4

1,40

4Ov

ertim

e to

Sta

ff

—

3,37

5 3,

375

Po

stage

& C

ourie

rs

—

11

,252

11

,252

Phot

ogra

pher

Cha

rges

4,00

0 —

4,

000

S.

M.S

. Cha

rges

3,06

7 —

3,

067

To

tal

69

5,65

7 19

0,59

7 88

6,25

4

Bala

nce

Rece

ivab

le / P

ayab

le

-140

,208

346

,723

20

6,51

5

555,

449

537,

320

1,09

2,76

9

55

5,44

9 53

7,32

0 1,0

92,76

9Sh

are

of S

urpl

us

10

3,25

8 10

3,25

7 20

6,51

5

Add

:- Re

ceiv

able

14

0,20

8 —

Am

ount

Rec

eivab

le

243,

466


64

Annexure GIII : Account for 16th NRRC held on 13th & 14th October 2012 at Nashik Expenditure Amount ` Income Amount `

Pre-Visit Charges 4,553 Delegates Fees

Hotel Charges 202,394 Members 110 x 2,000 220,000

Non Members 2 x 2,500 5,000 225,000

Conference Materials 112

Folder (STPAM) 112 x 15 1,680 Gala Dinner 53 x 700 37,100 37,100

Writing Pad (STPAM) 112 x 10 1,120

Pen (STPAM) 112 x 20 2,240 5,040 Advertisement Charges 20,000

Complimentary 11 x 120.71 1,328

Paper Printing Charges 112 x 120.71 13,521

Xerox Charges 724

Memento to Chief Guest / Paper Writer 5,010

& Chairman

Service Tax 4,637

Misc. Charges 6,772

Photo Charges 3,000

S.M.S. Charges 1,692

Total Expenses 248,671

Surplus 33,429

Total 282,100 282,100

Appropriation A/c for sale of NRRC papers


Cost of Balance Paper 18,951 Sale of Papers 27,400(157 x 120.71) ( 137 x 200 )

Surplus 10,863 Stock of Papers 2,414(Trs to Books & Bulletin A/c) (20 x 120.71) 29,814 29,814

62nd Annual Report


65

Annexure GIV : Account for full Day Seminar on Recent Amendments to Maharashtra Value Added Tax Act,2002 at Navin Thakkar Auditorium on 16th June 2012. Expenditure Amount ` Income Amount `Auditorium Charges 35,730 Delegates Fees 516 x 700 361,200

A.C & Electricity Charges 13,416 Non Members 49 x 1,200 58,800 565 420,000 420,000Catering Charges 165,000 Advertisement Charges 20,000Decorating Charges 18,675 Memento to Delegates 2,125 Folder 14,062 Pen 10,500 Writing Pad 3,675 30,362 Memento to Speaker 4,550Photo Charges 1,225 SMS Charges 2,252Printing Charges of Notes 28,091Printing Charges of Books (565 x 65) 36,725Complimentary Copies (15 x 65) 975Misc. Expenses 6,854 Total Expenses 343,855 Surplus 96,145

440,000 440,000

Appropriation A/c for Sale of Books


Cost of Balance Books Sale of Books (170 x 65) 11050 (93 x 100) 9300

Surplus Stock of Books 5005Trs to Books & Bulletin A/c 3255 (77 x 65)

14305 14305


66

Annexure GV : Account for Half Day Seminar on 11th September 2012 at Navin Thakkar AuditoriumExpenditure Amount ` Income Amount `

Auditorium Charges 25,618 Delegates Fees

Decorating Charges 6,000 Members 285 x 300 85,500

Catering Charges 25,675 Non. Members 65 x 400 26,000

350 111,500 111,500

Electricity / A.C. Charges 6,180

Memento to Delegates 11,812 Advertisement

Memento to Speaker 2,347 Fortune Solutions 5,000

Printing Charges of Notes 14,374

Photo Charges 785

SMS Charges 1,839

Misc. Charges 4,416

Service Tax 12,265

Total Expenses 111,311

Surplus 5,189

116,500 116,500

62nd Annual Report


67

An

nex

ure

GV

I :

Acc

oun

ts f

or J

oin

t W

ork

shop

Mee

tin

g 20

12-1

3

EXPE

NDIT

URE

STPA

M

BCAS

CT

C AI

FTP

MCT

C TO

TAL

Tea B

ill /

Snac

ks

93,97

9 —

—

—

—

93

,979

Xero

x Ch

arges

21

,724

—

—

—

—

21,72

4

Mem

ento

to Sp

eake

r 9,9

12

—

—

—

—

9,912

Fold

er, C

onf.

Pad

& Pe

n 8,6

31

—

—

—

—

8,631

Misc

. Cha

rges

397

—

—

—

—

397

SMS

Charg

es

1,872

—

—

—

—

1,8

72

Bann

er Ch

arges

1,1

55

—

—

—

—

1,155

Serv

ice Ta

x 15

,180

—

3,960

—

—

19

,140

Total

Exp

ense

s 15

2,850

3,960

15

6,810

INCO

ME

ST

PAM

BC

AS

CTC

AIFT

P M

CTC

TOTA

L

Deleg

ates F

ees :

-

STPA

M

M

embe

rs 68

x

1,50

0 10

2,000

Non-

Mem

bers

18

x 2

,000

36,00

0

86

138,0

00

1380

00

—

—

—

—

1380

00

BCAS

(Exc

l : S

ervic

e Tax

)

Mem

bers

49

x 1

,335

65,41

5

Non-

Mem

bers

38

x 1

,780

67,64

0

87

133,0

55

— 1

33,05

5 —

—

—

13

3,055

CTC

M

embe

rs 20

x

1,50

0 30

,000

No

n-M

embe

rs 3

x

2,00

0 6,0

00

23

36

,000

—

—

36,00

0 —

—

36

,000

AIFT

P

Mem

bers

9 x

1

,500

13,50

0

Non-

Mem

bers

2 x

2,0

00

4,000

11

17,50

0 —

—

—

17

,500

—

17,50

0

MCT

C

Mem

bers

7 x

1,5

00

10,50

0

Non-

Mem

bers

4 x

2,0

00

8,000

11

18,50

0 —

—

—

—

18

500

1850

0

Total

Exp

ense

s

13

8,000

133

,055

36,00

0 17

,500

18,50

0 34

3,055

Part

icul

ars

STPA

M

BC

AS

CT

C

AIF

TP

MC

TC

To

tal

No.

of

Del

egat

es

86

87

23

11

11

218

Tota

l In

com

e 13

8,00

0.00

13

3,05

5.00

36

,000

.00

17,5

00.0

0 18

,500

.00

343,

055.

00

Tota

l Ex

pens

es

152,

850.

00

0.00

3,

960.

00

0.00

0.

00

156,

810.

00

Rec

eiva

ble

/ Pay

able

-1

4,85

0.00

13

3,05

5.00

32

,040

.00

17,5

00.0

0 18

,500

.00

186,

245.

00

Shar

e O

f To

tal

Surp

lus

37,2

49.0

0 37

,249

.00

37,2

49.0

0 37

,249

.00

37,2

49.0

0

Net

Pay

able

/ R

ecei

vabl

e -5

2,09

9.00

95

,806

.00

-5,2

09.0

0 -1

9,74

9.00

-1

8,74

9.00


68

EXPE

NDIT

URE

STPA

M

CTC

AIFT

P TO

TAL

Hotel

Cha

rges

0 24

7890

0

2478

90

Fold

er, C

onf.P

ad &

Pen

0 56

740

0 56

740

Mem

ento

to Sp

eake

r 0

9054

0

9054

Photo

graph

Exp

s 0

7179

0

7179

Audi

o Vi

sual

Charg

es

0 14

100

0 14

100

Misc

Exp

s 0

6788

0

6788

Serv

ice Ta

x 64

90

2647

7 0

3296

7

SMS

Charg

es

1017

0

0 10

17

Mee

ting E

xps

0 0

724

724

Total

Exp

ense

s 75

07

3682

28

724

3764

59

INCO

ME

ST

PAM

CT

C AI

FTP

TOTA

L

Deleg

ates F

ees :

-

STPA

M

MEM

BERS

UP

TO 3

1-10-1

2 1

X

2750

27

50

NON

MEM

BERS

UP

TO 3

1-10-1

2 1

X 32

50

3250

MEM

BERS

AFT

ER 3

1-10-1

2 13

X

3000

39

000

NON

MEM

BERS

AFT

ER 3

1-10-1

2 4

X 35

00

1400

0 59

000

5900

0

CTC

MEM

BERS

UP

TO 3

1-10-1

2 37

X

2750

10

1750

NON

MEM

BERS

UPT

O 31

-10-12

5

X 32

50

1625

0

MEM

BERS

AFT

ER 3

1-10-1

2 66

X

3000

19

8000

NON

MEM

BERS

AFT

ER 3

1-10-1

2 19

X

35

00

6650

0

FEES

FOR

1 D

AY

2 X

1750

35

00

38

6000

3860

00

AIFT

P

MEM

BERS

UP

TO 3

1-10-1

2 8

X 27

50

2200

0

NON

MEM

BERS

UP

TO 3

1-10-1

2 1

X 32

50

3250

MEM

BERS

AFT

ER 3

1-10-1

2 19

X

3000

57

000

NON

MEM

BERS

AFT

ER 3

1-10-1

2 2

X 35

00

7000

89

250

8925

0

ADVE

RTIS

EMEN

T

10

000

1000

0

Total

Inco

me

6900

0 38

6000

89

250

5442

50

Part

icul

ars

STPA

M

CT

C

AIF

TP

Tota

l

No.

of

Del

egat

es

19

129

30

178

Tota

l In

com

e

69

000.

00

3860

00.0

0 89

250.

00

5442

50.0

0

Tota

l Ex

pens

es

7507

.00

3682

28.0

0 72

4.00

37

6459

.00

Rec

eiva

ble/

Paya

ble

6149

3.00

17

772.

00

8852

6.00

16

7791

.00

Shar

e of

Tot

al S

urpl

us

5593

0.00

55

930.

00

5593

0.00

16

7791

.00

Net

Pay

able

/ R

ecei

vabl

e

55

63.0

0 -3

8158

.00

3259

6.00

0.

00

An

nex

ure

GV

II

: Tw

o D

ays

Join

t S

emin

ar o

n R

eal

Est

ate

Tra

nsa

ctio

ns

- L

egal

, Ta

xati

on &

Acc

oun

tin

g A

spec

ts D

t. 1

4th

& 1

5th

D

ecem

ber,

201

2

62nd Annual Report


69

Annexure I : Accounts for Intensive Study Group Meeting 2011-12 (April, 2012 to May, 2012)Expenditure Amount ` Income Amount `Tea Bill / Snacks 4,869 Delegates Fees Recd. 25,164

Memento to Speaker 700 Total Expenses 5,569

Surplus 19,595

25,164 25,164

Annexure J : Accounts For Intensive Study Group Meeting 2012-13 (06-10-2012 to 31-03-2013)


Tea Bill / Snacks 17,451 Delegates Fees Recd 70,446Xerox Charges 3,865Memento to Speaker 5,210Misc Charges 380Service Tax (Receipt Basis) 11,976SMS Charges 1,840Total Expenses 40,722 Surplus 29,724

70,446 70,446

Annexure H : Accounts for Coaching Class - 2012-13Expenditure Amount ` Income Amount `

Tea Bill / Snacks 8,647 Delegates Fees Recd. Members 39,266Xerox Charges 16,435 Delegates Fees Recd. Non-Members 37,407Memento to Speaker 5,585 Misc. Charges 55 Service Tax 8,434 SMS Charges 2,081 Total Expenses 41,237 Surplus 35,436

76,673 76,673


70

Annexure K : Accounts For Picnic At Dudhsagar Spa Resort, Goa From 17th August 2012 To 20th August 2012


Hotel Charges 163,450 Delegates Fees Recd. 271,250

Bus Charges 49,833 Less :- Refund 26,350 244,900 Pre-Visit Expenses 3,000

Extra Lunch and Dinner 15,220

Service Tax 26,456 Total Expenses 257,959

Deficit 13,059

257,959 257,959

Annexure L : Accounts for Foundation Day Celebration, & Satyanarayan Pooja on 17.11.2012 & 03.12.2012


Decoration Charges 1,100 0Memento Charges 2,423 Tea/Coffee/Snacks 23,728 Banner Charges 1,630 Pooja Expenses 2,915 Blood Donation 2,270 Photo Charges 1,415 SMS Charges 3,756 Other Misc. Expenses 1,167 (Flower Bouquet, Bisleri, etc.) 40,404 0

Annexure M : Ordinary Membership Fees

31.03.2013 31.03.2012 ` `Local Ordinary

` 1500 x 1431 Members 2,146,500 1,227,200

` 800 x 1534 Members (Prev. Year)

Outstation Ordinary

` 1250 x 1005 Members 1,256,250 637,800

` 600 x 1063 Members (Prev. Year) 3,402,750 1,865,000

62nd Annual Report


71

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 :

Own Publication issued during the year are valued at cost . Obsolete stock of 36th RRC Papers (Mysore), 11th IRRC Papers,16th NRRC Paper 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 'M'

The Schedules/Annexures referred to above form an integral part of the Balance Sheet as at 31st March, 2013 and Income and Expenditure Account for the year ended 31st March, 2013.




72

Shri V. Sridharan, Advocate, delivering his lecture on the

subject of ‘Position of Bona fide Dealers u/s 48(5) of MVAT Act’ at the First Study

Circle Meeting.

CA Ajit Gokarn, Speaker of the

Study Circle Meeting.

Shri Shailesh Sheth, advocate delivering a speech

on the occasion of Diwali Get-together

Satyanarayan Pooja held at STPAM, Mazgaon Tower office, after renovation of Office. Mrs. & Mr. R.C. Kale are seated at pooja.

CA Madhukar Khandekar,

addressing the meeting at Mega Guidance

Cell and Study Circle Meeting held on 12-12-

2012

Shri Deepak Bapat, Advocate, addressing in 7th Study Circle

Meeting.

Mr. Vidyadhar Apte, Advocate analyzing

proposals of Service tax as per Central Budget 2013-

14 at 8th Study Circle Meeting.

Shri Suresh Sanghvi, Senior Member offering flower bouquet to CA Sujata Rangnekar, Speaker of the 11th Study Circle Meeting held on 12th April, 2013. Also seen Shri Vijay Sachiv, Hon. Jt. Secretary and Shri Pankaj Parekh, Vice President.

On dais from Left to Right: VAT Officer of SARS, Chief Guest Rajiv Terwadkar, Kishor Lulla and Vijay Sachiv at Johannesburg, South Africa..

Inaugural Mega Guidance Cell Meeting held on 4th September, 2012. Seen from L to R : S/Shri Kishor Lulla, President, Aalok Mehta, Jt. Convenor, D. V. Phad, Convenor, and R. B. Jadhav, Additional Commissioner of Sales Tax.

Cutting birthday cake in STPAM. Seen from L to R: Dr. Shashank Dhond, S/Shri Vijay Sachiv, Pankaj Parekh, V.R. Rao & D.V. Phad.

Outgoing President Shri Hiten S. Shah welcoming Incoming President Shri Kishor T. Lulla, by offering flower bouquet.

Shri A. D. Babrekar, President, Maharashtra Sales Tax Tribunal, lighting lamp and inaugurating yearly session of the Study Circle Meeting. Also seen L to R : Vijay Sachiv, Hon. Jt. Secretary, Pankaj Parekh, Vice President, V. Sridharan, Speaker of the session, Dinesh Tambde, Convenor, L & R Committee, Kishor Lulla, President.

Shri Pankaj Parekh, Vice President offering flower bouquet to chief guest Shri Sanjay Bhatia, Commissioner of Sales Tax, at the occasion of Blood Donation Camp on 3rd December, 2012. Also seen Shri Kishor T. Lulla, President.

On Release function of book - on the dais from L to R: S/Shri Pankaj Parekh, Vice President, CA Kishor Karia, speaker of the Study Circle Meeting, Kishor Lulla, President, Ashit Shah, Jt. Convenor, Coaching Class Committee, V.R. Rao, Jt. Convenor, Coaching Class Committee, Dr. Shashank Dhond, Hon. Jt. Secretary, Dinesh Tambde, Convenor, L & R Committee.

S/Shri P. V. Surte and P. C. Joshi felicitating Hon’ble Mr. Justice J. P. Devadhar on his attaining superannuation as Judge of the Bombay High Court.

3rd Cover

4th Cover

16th NRRC was inaugurated by Hon'ble Shri Sanjay Bhatia, Commissioner of Sales Tax, Maharashtra State giving keynote address on "Benefits of Meditation". Also seen from L/R: S/Shri Sunil Khushlani, Vijay Sachiv, Prakash Surana, Chirag Parekh, Sanjay Bhatia, Kishor Lulla, President, Pankaj Parekh, Suresh Bothara and Dr. Shashank Dhond.

Hon’ble Justice Shri Samudrala Govinda Rajulu, Chief Guest lighting the lamp at inaugural function of 37th RRC. Also

seen from L to R : S/Shri Kishor Lulla, President, Pravin Shah, Chairman, RRC Committee, Sachin Gandhi, Hon.

Treasurer, Pankaj Parekh, Vice President

Commissioner of Sales Tax addressing at the seminar. Seen from Left to Right: S/Shri Dinesh Tambde, Shashank Dhond, Kishor Lulla, President, Pankaj Parekh, Vijay Sachiv, Sachin Gandhi.

The Commissioner of Sales Tax releasing Short Publication on

Transaction u/s 6(2) of CST Act. Seen from L to R: S/Shri Kishor

Lulla, President, C.B.Thakar (Author of Short Publication),

Shashank Dhond, Pankaj Parekh, Vijay Sachiv.

The Commissioner of Sales Tax releasing CD on DDQ, Circular, Gazettes, Notifications. Seen from L to R: S/Shri Kishor Lulla, President, Shashank Dhond, Pankaj Parekh, Vijay Sachiv, Sachin Gandhi.