Pics: Joshwa D'Souza

Daijiworld Media Network-Mangaluru (JD)

Mangaluru, Oct 31: 'Rachana', Catholic Chamber of Commerce and Industry felicitated the president of the Kanara Chamber of Commerce and Industry, Jeevan Saldanha in a ceremony held in city on Sunday, October 30.

After receiving the hours Jeevan Saldanha who has been also appointed as one of the directors of MSEZ said that entrepreneurship comes with risks and challenges. "Now a days we see app based companies who are gaining success on online platform. The success rate in such start ups is as low as 10 percent. Start ups look very glittering during the initial days." he told the budding entrepreneurs not forgetting to thank Rachana.

Saldanha later on also released an appeal drafted to help the upcoming programmes of Rachana.

Later a seminar on GST was held for all the members that was addressed by the member of FCA, Jennifer Arun Mendes. "GST is a destination based tax law which focuses more on the consumer during the taxation. Every manufacturer will be given a GST ID which will be used for all the stages of the business. The two main entities which are not covered in GST are petroleum products and alcohol and hence rise in these commodities will be likely," she pointed out.

"GST has been already implemented in more than 160 countries in the world today. In India we use the dual GST, where during the transportation of goods between two states, the states have the right to levy tax where as carriage of goods within the state is free of tax." Mendes added.

"The main impact of the GST will be on the consumers as the prices of the major commodities can rise. There is a need for the SMEs to be more competent and transparent as GST intends to stop the flow the black money." Mendes said.

President of Rachana Gilbert D'Souza welcomed the gathering while vice president Elias Sanctis rendered the vote of thanks.

Heera Vas compered the programme.