1. Narendra Modi at ICAI event: Client or country, whom did you work for after demonetisation, PM asks CAs

Narendra Modi at ICAI event: Client or country, whom did you work for after demonetisation, PM asks CAs

Narendra Modi at ICAI event LIVE UPDATES: Prime Minister Narendra Modi on Saturday launched the revised syllabus of ICAI and spoke vividly on the successful launch of Goods and Services Tax (GST) at Delhi's Indira Gandhi Indoor stadium.

By: | New Delhi | Updated: July 1, 2017 8:28 PM
CA New Syllabus, Narendra Modi, Chartered Accountants, Chartered Accountants Course, ICAI, ICAI curriculum, GST Rollout, CA syllabus, new CA syllabus, Goods and Service Tax, Narendra Modi, IPCC, CPT, education news You have the responsibility to maintain country’s economic health, says PM Narendra Modi

Narendra Modi at ICAI event LIVE UPDATES: Prime Minister Narendra Modi on Saturday launched the revised syllabus of ICAI and spoke vividly on the successful launch of Goods and Services Tax (GST) at Delhi’s Indira Gandhi Indoor stadium. PM Modi’s address to CA community came on the day GST was implemented at Parliament’s Central Hall. Being hailed as India’s second tryst with destiny after Independence on August 15, 1947, GST launch event saw speeches from Finance Minister Arun Jaitley, Prime Minister Narendra Modi, and President Pranab Mukherjee. PM Narendra Modi, in the historic Parliament address, termed GST as “good and simple tax” for the nation. The Prime Minister said that scope of GST is not limited to the financial system, adding, that India will now move in a new direction. President Mukherjee, who took the dais after Prime Minister Narendra Modi, said that tax implementation will become more transparent under GST. The President termed tax as an example of “maturity and wisdom” of India’s democracy. After the event, PM Modi is also scheduled to launch revised Chartered Accountancy syllabus at all levels. PM Narendra Modi’s last walk came after Bharatiya Janata Party’s thumping victory in four state Assembly elections. The Prime Minister had coined the term New India in the speech which came after the walk, it will be interesting to see what Modi comes up with this time.

Watch | PM Narendra Modi’s interaction with Chief Ministers on Goods & Service Tax (GST)

Here are all the live update on GST walk and address at Jawahar Lal Nehru Stadium:

8.00 pm: People talk of the big 4 accounting firms. Sadly, there is no Indian firm there. By 2022, let us have a big 8, where 4 firms are Indian: PM

7.57 pm: Your signature carries immense faith, please do not break that trust that is placed on you: PM Narendra Modi to the CA community

7.55 pm: 2 years from now when Swiss Banks start giving real time data, people who deposited money in foreign banks will face tough time: PM Modi

7.53 pm: Let’s contribute towards India in making it what we want it to be, by the 75th year of independence in 2022: PM Modi

7.51 pm: Swiss Bank has stated that there has been a 45% drop in the deposit by Indians, the lowest ever in years: PM Narendra Modi

7.49 pm: Ek baar aap thhaan lenge to main vishwas se keh sakta hun ki tax chori karne ki himmat koi nahi kar paayega: PM Modi to the CA community.

7.47 pm: Govt has cancelled registration of over 1 lakh companies and more than 37,000 shell firms have been identified for strong action: PM

7.45 pm: Impact of our steps to check black money is clear from latest figures of Swiss banks, where Indians’ money has dipped to record low: PM

7.42 pm:The CA community looks after the economic health of society: PM Narendra Modi

7.39 pm:A country where a select few loot, such a nation cannot scale new heights. These select few never want the nation to grow: PM Narendra Modi

7.36 pm: Our Government has taken a tough stand against those who have looted the nation: PM Narendra Modi

7.33 pm: On one hand, there is a Swachh Bharat Abhiyaan and there is a movement to clean the nation from the menace of corruption: PM Narendra Modi

7.31 pm: Those who have looted the poor will have to give back what they have looted: PM Narendra Modi

7.29 pm: We will always remember how the community of professionals took a lead during the freedom struggle of India: PM Narendra Modi

7.27 pm: Like the lawyers did during the freedom struggle, I urge the CAs to take the lead in the journey towards India’s economic growth: PM Narendra Modi

7.24 pm: “In last 11 years, only 25 CAs have been convicted,” PM Narendra Modi asks CAs

7.22 pm: “Are there only 32 lakhs people who earn more than Rs 10 Lakh annually?” PM Narendra Modi asks CAs.

7.20 pm: I have been told that country has more than 2.72 lakhs CAs in our country and more than 2 Lakhs article assistants, says PM Narendra Modi

7.18 pm: There must be someone who must have helped these (fraud) companies, some economic doctor(CAs) must have helped them, says PM Narendra Modi

7.16 pm: A country where a select few loot, such a nation cannot scale new heights. These select few never want the nation to grow: PM Modi

7.14 pm: We have identified three lakh companies whose transactions are under scanner, however, we have not made any inspections or interogations yet, says PM Narendra Modi

7.12 pm: PM Narendra Modi asks CAs: Who did you work after demonetisation? Client or country?

7.11 pm: CAs got a lot of work after demonetisation, they had to work very hard, says PM Narendra Modi

7.08 pm: “(Cont.) However, if there is one person who wants to steal a certain item, the family will never succeed,” says Modi

7.07 pm: “If a house family’s entire house is burnt in fire, it can rebuilt it very quickly (Cont.),” says PM Narendra Modi.

7.06 pm: There are certain things which compels me to think, says PM Narendra Modi

7.05 pm: Watch Video: PM Narendra Modi launches New Chartered Accountancy Course Curriculum

7.04 pm:  Indian CAs are known for their capabilities across the world, says PM Narendra Modi

7.03 pm: You have the responsibility to maintain country’s economic health, says PM Narendra Modi

7.02 pm: Dear youngsters, people affiliated with chartered accountancy, country’s Parliament have give you a sacred right, says PM Narendra Modi

7.01 pm: Today it is the foundation day of ICAI, I extend my greetings to all of you, says PM Narendra Modi

7.01 pm: It is a coincidence, that today is you foundation day and GST implementation day. It’s a matter of extreme happiness, says PM Narendra Modi

7.00 pm: You are sitting here amid rains, Namashkaar to all of you, says PM Narendra Modi at Indira Gandhi Indoor Stadium

6.45 pm: PM  Narendra Modi arrives at venue, to begin his address shortly. PM Modi is scheduled to launch revised Chartered Accountancy syllabus at all levels.

6.35 pm: Prime Minister Narendra Modi to address nation shorty on historic GST implementation.

6.30 pm: Finance Minister Arun Jaitley concludes his address at event.

6.25 pm: Some people had suggest me to implement one single tax on every item, I had objected, “Can we have same tax of Mercedes car and hawai chappals, one is used by Uber rich, other by the poor”

6.20 pm: I had said that GST should be made both – assessee friendly and taxation friendly, says FM Arun Jaitley.

6.15 pm: In our country, big bussinesses borrowed crores of Rupees from banks. We brought insolvency laws keep check of such people, says Arun Jaitley.

6.10 pm: Jaitley hails Narendra Modi government’s efforts for poverty allevation.

6.05 pm: Jaitley starts his address at ICAI syllabus change event.

6.00 pm: I expect that Jammu and Kashmir will also adopt Goods and Services Tax in upcoming time, says FM Arun Jaitley.

5.55 pm: Kuchh dinon mein umeed karta hun J&K isme integrate karlega, Kucch log virodh karenge lekin virodh ke saath bhi loktantra chalta hai, says FM Arun Jaitley.

5.50 pm: MoS Finance Santosh Gangwar arrives at Indira Gandhi Stadium, New Delhi. Arun Jaitley concludes his interactive session.

5.45 pm: Finance Minister Arun Jaitley concludes his interactive session on GST at Indira Gandhi Stadium, New Delhi.

5.40 pm: Finance Minister Arun Jaitley currently addressing important questions on GST at Indira Gandhi Stadium, New Delhi.

5.37 pm: It was not a difficult task to implement GST as a capable political will power was providing backing to us, says Revenue Secratary Hasmukh Adhia.

5.30 pm: This government never hesitated taking tough decisions, says Arun Jaitley.

5.20 pm: Event is slated to start at 6 PM. Modi will then head to IG stadium for new ICAI syllabus launch.

5.15 pm: Chaos reported at PM Narendra Modi’s GST road show in New Delhi’s Jawahar Lal Nehru Stadium, India Today reported.

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  1. S
    Jul 2, 2017 at 11:42 pm
    It's so funny to read people blaming criticizing those CA's to whom these very people run to in order to save/evade taxes.Just like in every other profession,people will find both types of CAs,the ones who help evade tax the ones who don't engage in such practices. Why not be honest yourself choose the right CA for yourself rather than shifting the entire blame.The ones not abiding by the law should be penalised but it should not be forgotten that there are many CA who help clients in saving tax because of their in depth knowledge about law and there is nothing wrong with that,is there?
    1. Jagdip VAISHNAV
      Jul 2, 2017 at 6:02 pm
      Judge this Govt -- Ignores to consider representations which are in the national interest -- Enforce Accountability on Charter Accountants -------------------------------------------------------- I am representing this issue since last 2 years , Informing Central Govt ,Ministry of Corporate Affair, informing [1] This grave issue of bad loan in Public sector Banks is also due to deliberate laxity on the part of [a]Statutory Auditors [b] Internal Auditors [c] Concurrent Auditors as well as Reserve Bank Auditors. Almost fake companies accounts are opened with the help/guidance of Charter Accountants [2]Similarly preparation of manipulated Balance sheet ,cash flow statement ,CAs play crucial role.CA even arranges entry keepers, persons who accepts cash in turn shall issue their cheques after deducting their commission. It is regretted ,Even after grave position of Bad loan in Public sector Banks, after Satyam Computer incident, King Fisher Airline , govt is silent
      1. R
        Jul 2, 2017 at 11:23 am
        Biggest direct blow [o dishonest CA's. Who thinks that th~y can do anything for money from clients.
        1. Gopal Das
          Jul 1, 2017 at 10:39 pm
          Poors are looted by big zamindars, middlemen, industrialists and last but not the least Govt. departments by corrupted Govt. Officials.
          1. R
            Rameswar Pattanayak
            Jul 1, 2017 at 9:08 pm
            To expect CAs to be honest is too much. It is they who help people to remain dishonest. With the advent of IT need of CA certification need to be done away with or allow other certificate holders like CMA, CS and MBA(Fin) equal power.
            1. Anirudh Kare
              Jul 11, 2017 at 11:54 am
              Its not like the CAs are finding loopholes from outside the Income Tax Act or any other law. People can evade tax because the law is redundant and the power to change those laws remains with the Legislature. CMA's and CS' have their own specific roles and those courses are designed to meet the requirements of those roles. They are not designed to equip the certificate holder the ability to approve financial statements, only CA's are trained for that. CAs, like other professionals, work 15-16 hours every single day for the advancement of their career and their business interests. We did not take an oath to fight for our country nor was there a mandate to serve the government's interests when they gave us our memberships. There are ethics and laws approved by the parliament, if anyone is in violation of that I strict action be taken against them. Please read a book and use your common sense then next you want to spew something on the internet without understanding the subject matter.
            2. A
              Aditya Sharma
              Jul 1, 2017 at 5:45 pm
              Arrest CAs and cancel their licenses and levy penalties of Min 50 Lacs on every one
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