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CEOs-Directors/Top Management Conclave on GST |
The need for an industry consensus on various issues pertaining to the proposed Goods & Services Tax was emphasized by Chairman, PetroFed and Chairman, IndianOil at a conclave of CEOs-Directors/Top Management on the subject on September 14, 2011 at New Delhi. He announced formation of a core committee comprising representatives of upstream, downstream and mid stream sectors to finalise views within a tight time schedule so that the same can be circulated to all companies and the views firmed up before the Parliamentary Standing Committee on Finance is approached. An industry consensus paper needs to be in narrative form, Mr. Butola added, for proper appreciation of the issues and their presentation in various forums.
At the conclave organised by PetroFed a presentation was made by Mr. S. Madhavan, Executive Director, PwC who has been associated closely with the subject. He traced its various stages of development and presented a draft for presentation to the Parliamentary Standing Committee on the issue of GST for the petroleum sector.
A presentation was also made on ‘Stranding of Taxes in the Petroleum Sector’ along with a proposed outline for reforms by Mr. P. Raghavendran, Vice Chairman, PetroFed and President (Refinery Business), RIL.
The meeting concluded after a healthy intensive debate among the top executives and tax experts.
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Mr. R. S. Butola, Chairman, PetroFed and Chairman, IndianOil (R) being greeted by Mr. A. K. Arora, Director General, PetroFed (L) with a bouquet of flowers. |
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Mr. P. Raghavendran, Vice Chairman, PetroFed and President (Refinery Business), RIL (R) being welcomed by Mr. A. K. Arora, Director Genreal, PetroFed (L)s.
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Mr. S. Madhavan, Executive Director, PwC (R) being welcomed by Mr. A. K. Arora, Director General, PetroFed (L). |
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Mr. A. K. Arora, Director General, PetroFed welcoming participants. |
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Mr. R. S. Butola, Chairman, PetroFed and Chairman, IndianOil (fifth from right) delivering opening remarks.
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Mr. S. Madhavan, Executive Director, PwC (third from right) making his presentation. |
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Mr. P. Raghavendran, Vice Chairman, PetroFed and President (Refinery Business), RIL making his presentation (third from left). Others (L-R): Ms. S. V. Narasimhan, Advisor, PetroFed; Mr. A. K. Arora, Director General, PetroFed; Mr. R. S. Butola, Chairman, PetroFed and Chairman, IndianOil; Mr. S. Madhavan, Executive Director, PwC; Mr. R. Muralidharan, Executive Director, PwC. |
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Participants engrossed in the presentation. |
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Mr. S. Mukherjee, Assistant Professor, NIPFP sharing his perspective. |
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Mr. K. Sharath Choudary, MD & CEO, East India Petroleum raising an issue. On the left is Ms. Rupshikha S. Borah, General Manager (Treasury), Oil India Limited. |
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A section of the participants. |
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