Page 17 - ICAI Newsletter - 1st Quarter 2024

Event Recap

Issue from 01 April 2024 to 30 June 2024 (for private circulation only)

Beyond the Basics - How to Navigate VAT Audits and Investigations -
Decoding Different Treatments on VAT and CT on Certain Transactions

th
25 April 2024
The Tax Focus Group hosted an guided attendees through the maze The session concluded with an
enlightening seminar titled “Beyond of VAT audits and investigations. His interactive Q&A, where Mr. Jain
the Basics: How to Navigate VAT Audits talk focused on the practical aspects addressed specific concerns from
and Investigations - Decoding Different of navigating through these audits, the the audience, offering personalized
Treatments on VAT and CT on Certain legal ramifications, and best practices advice and suggestions. Feedback
Transactions.” This session aimed to for ensuring compliance. Furthermore, from participants was overwhelmingly
deepen the understanding of VAT Mr. Jain delved into the complexities positive, with many appreciating the
(Value Added Tax) and CT (Corporate of VAT and CT treatments on specific practical and detailed approach to such
Tax) intricacies, providing attendees transactions, offering clarity on how to a critical topic.
with advanced strategies to handle manage these effectively within the
audits and optimize tax handling. framework of current tax legislation. This Tax Focus Group event not only
This event was organised by focus enhanced participants’ understanding
group co-ordinators and our executive Participants gained invaluable insights of VAT and CT but also equipped them
committee members CA Aashna into the often-complex interpretations with the tools to navigate related
Mulgaonkar along with CA Balaram of tax laws and learned how to apply challenges confidently. Such initiatives
Reddy. this knowledge to their business or are crucial for keeping abreast of
practice. The seminar also included evolving tax regulations and ensuring
The event featured a distinguished case studies and scenarios that compliance.
presentation by Mr. Ankur Jain, a highlighted common pitfalls and ways
noted expert in tax law, who adeptly to avoid them during tax audits.

1 QUARTER RECAP
ST
01 April 2024 to 30 June 2024 www.icaidubai.org 17