• Newsletter for the Month of November - 2014 +

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Office Bearers for the year 2014 - 15

President's Desk - November 14

Dear Professional Friends,

The Adjourned 41st AGM of KSCAA was held on 18th October, 2014 to transact the adjourned agendas of the AGM held on 15th July 2014. The present   executive committee presented the updated reports which were approved by the members present. The members present expressed their displeasure on the absence of immediate Past President at the adjourned AGM.    We wholeheartedly thank the Past Presidents and other members of our association for their support in concluding the AGM and also for their words of appreciation to the present Executive Committee towards the steps taken to resolve the issues leading to the adjournment of 41st AGM. I take this opportunity to assure all our members that the suggestions given by our Past Presidents and members present at the adjourned AGM will be duly considered and implemented to take forward our Association in the path of prosperity.

On behalf of KSCAA, I express my warmest congratulations to CA.Suresh Prabhakar Prabhu on his appointment as Minister of Railways in the Prime Minister Narendra Modi's reshuffled cabinet. Though we miss our very own MP from Karnataka Sri. Sadananda Gowda at the Rail Bhawan, we wish him the very best for his new role as Minister of Law and Justice.

The Government's bid to implement the Goods & Services Tax (GST) as early as possible got a significant boost with the empowered committee of state finance ministers endorsing the 'place of supply' rules that form the backbone of the new regime that will replace a plethora of levies, create a common market and likely to give GDP growth a lift of up to two percentage points. The states are also confident GST will be in place by April 1, 2016, six years after it was originally scheduled to take effect. GST will subsume central indirect taxes such as excise duty and service tax at the central level and value added tax at the state level besides other local levies such as Octroi and entry tax. We wish to see the GST act implemented at the earliest, which would improve the economy and business environment in the country.

Karnataka Cities Renamed: The Union Home Ministry has given the green-light to a long-standing proposal of the Karnataka Government to rename a dozen cities and towns in the state in consonance with their pronunciation in Kannada language. The State Government issued a special gazette notification to bring the new names into effect. Twelve cities in Karnataka woke up to new names on Saturday, 1st November 2014, which is also the 59th Karnataka Rajyotsava. Now, Bangalore will be called Bengaluru, Mangalore will be called Mangaluru, Bellary will be called Ballari, Belgaum will be called Belagavi, Hubli has become Hubballi, Tumkur is Tumakuru, Bijapur has changed to Vijayapura, Chikmagalur to Chikkamagaluru, Gulbarga to Kalaburagi, Hospet to Hosapete, Mysore to Mysuru and Shimoga will now be known as Shivamogga. I request ICAI representatives to make necessary follow-ups to change the Branch names in Karnataka accordingly.

Executive Committee has co-opted CA. Malakajappa R Biradar from Kalaburagi to represent Moffusil area for the year 2014-15. We welcome him to the KSCAA EC and with his Co-option, KSCAA Executive Committee will now work with its full strength of 15 members and look forward to conduct more events and programs in the days ahead.

Basavanagudi CPE Study Circle has come forward to hold their CPE programme on Saturday, 22nd November 2014 at KSCAA premises. Further one more CPE programme has been arranged by them on 13th December 2014 at Sri Bhagwan Mahaveer Jain College. The detail of the programme is given in the advertisement published in this Bulletin.

KSCAA, jointly with Bangalore Branch of SIRC of ICAI, is organising a Cricket Tournament for members on 14th December 2014 and Sports and Talent Meet for members and family on 21st December, 2014. The details are provided elsewhere in this news bulletin. We invite all members to participate with their family and enjoy the events.

The mega event of KSCAA – 27th Annual Conference is proposed to be held on 7th and 8th of March, 2015. I request all the members to make note of this event in their calendar. I also request the Managing Committee of various ICAI branches in Karnataka and also various district Chartered Accountants associations to not to plan any events or programs on those dates and join hands in making the conference a grand success.

To encourage and increase the KSCAA membership, we are planning to start Membership Drive on every 3rd Saturday of the month. We request the members to encourage the other ICAI members in the state to be part of KSCAA.

In service of the Profession,

CA. Raveendra S. Kore