GSTeircoficmai.com/NewsItems/9381-Book 2017.pdf · CMA Niranjan Mishra (C.C.M) CMA Biswarup Basu (C.C.M) * R.C.M = Regional Council Member * C.C.M = Central Council Member Officers

` Annual200/- ISSN 2320 –1584 EIRC News

Vol. 10 No. 10 November 2017

(Statutory body under an Act of Parliament)

EIRC NEWSThe Institute of Cost Accountants of India

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GST

Campus Interview at EIRC

Career Awareness Programme at Bholananda National Vidyalaya on 10.11.2017

Career Awareness Programme at Sahapur Harendranath Vidyapith on 10.11.2017

Career Awareness Programme at South Suburban School on 10.11.2017

CEP on “Overview of GST – Challenges during Implementation” at EIRC on 2.11.17.

Speaker Shri Ajay Agarwal is being presented a memento.

CEP at EIRC on 2-11-17 on . Chairman CMA P. K. ChakrabartyAddressing the members. Shri Ajay Agarwal is also seen

thCEP on "Contract Management - Role of CMAs" on 15 Nov 2017.CMA Balak Nath Bhattacharya is being presented a

memento.

EIRC of ICAIChairman

CMA Pranab Kumar Chakraborty

Vice-Chairman

CMA Shyamal Kr Bhattacharjee

Secretary & Treasurer

CMA Cheruvu Venkata Ramana

Members

CMA Bibekananda Mukhopadhyay (R.C.M)

CMA Ashis Banerjee (R.C.M)

CMA (Dr.) Umar Farooque (R.C.M)

CMA Shiba Prasad Padhi (R.C.M)

CMA Arundhati Basu (R.C.M)

CMA Manas Kumar Thakur (IPP / C.C.M)

CMA Avijit Goswami (C.C.M)

CMA Niranjan Mishra (C.C.M)

CMA Biswarup Basu (C.C.M)

* R.C.M = Regional Council Member

* C.C.M = Central Council Member

OfficersPrabir Banerjee ( : 2455-3418/5957, Ext- 109

PD & Education Officer (D) 6456-3602

Tinku Ghosh Das ( : 2455-3418/5957, Ext- 107

Deputy Director (M) 9433157462

Debosmita Sengupta ( : 2455-3418/5957, Ext- 110

Officer (PD & Statutory Compliance) (D) 6450-4305

In-charge of Account & Finance

Trilochan Ghosh ( : 2455-3418/5957, Ext-111

Education Officer, (IT) (D) 6456-3600

Contents

DisclaimerThe views and opinions expressed or implied by way of articles in the EIRC NEWS are those of the authors and do not necessarily

reflect those of the EIRC of ICAI. EIRC of ICAI bears no responsibility for the contents in the articles published.

CHAIRMAN’S COMMUNIQUE 4

SECRETARY’S COMMUNIQUE 6

MEMBER’S SECTION

7

16

20

NEWS

EIRC Activities 23

Fair Price Medicine Shop in West Bengal:Study on This New Initiative New Challenges

Soft Skill Development for young professionals, especially, young CMAsP. K. Chakravarty

Sudipta Halder

Demands under Central Goods & Services Act , 2017CMA Debnath Ghosh

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CHAIRMAN’S COMMUNIQUE

EIRC NEWS 4

Vol. 10 No. 10 November, 2017

Arise, awake and do not stop until the goal is reached.– Swami Vivekananda

My dear Professional Colleagues,

It is indeed my pleasure to interact you on the professional development in the Eastern Region of this premier Institute with a

promise to devote for the development of the profession

Election process of the Chapters in Eastern Region have been completed in the month of October, 2017 for selection of new

Managing Committee for the year 2017-19. I congratulate the New Managing Committee of all the Chapters of this region

with an expectation for development of the profession as a whole in this region in a wholesome manner.

We have already started conducting extensive Career Counseling in both schools & colleges in Eastern region for

improvement of the potential students in EIRC and Chapters by the untiring efforts of employees of EIRC and our

Headquarter. I would request our CMA family to come forward and extend positive support so that combined effort of

members and executives can achieve 100% perfection towards our target during this year.

stWe have observed the Rashtriya Ekta Diwas on the auspicious birthday of Sardar Ballavbhai Patel on 31 October, 2017. ndCollective pledge was taken by the members, employees and the students to maintain the integrity of the nation. On 22

October, 2017, our Institute has organized one prestigious CFO & HR meet on the theme “Skill Development and

employability-Agenda for Skill Development “ at Bhubaneshwar,Odisha . Around 70 high profile dignitaries like, CEOs,

CFOs, HR Heads from different private and public sector organization have participated in that said occasions. Few

academicians from Universities & Colleges, IIMS & XIMB also participated in the discussion. Shri Subrata Bagchi, Chairman

Odissa Skill Development Authority inaugurated the function as Chief Guest . CMA Sanjay Gupta, President of our

Institute,CMA Manas Kr.Thakur, IPP & CCM,CMA Niranjan Mishra,CCM, CMA S.P.Kar, Chairman BBSR Chapter also

graced the occasion. Myself & CMA S.P.Padhi,Past Chairman ,EIRC were also present in that seminar .

We are glad to inform you that this year, 14 nos. Companies have participated in the campus interview in EIRC premises th thcommencing from 9 October'17 to 11 October,2017 and total 48 candidates are selected in different companies in June 2017

Campus from Eastern Region. Other few companies are still pending for the final selection. I am thankful to the Immediate

Past President & Chairman, Placement Committee of the Institute for his extensive support to make CMA Campus Placement

drive for June 2017 batch a successful one. I am delighted to share that the Institute has decided for round the year off-campus

placement drive to support qualified and semi-qualified CMAs.

EIRC NEWS 5


Ministry of Corporate Affairs has notified the provisions governing valuation by registered valuers under section 247 of the

Companies Act, 2013] and the Companies (Registered Valuers and Valuation) Rules, 2017 (the Rules), with effect from 18th

October, 2017. A registered valuer would carry out valuation in respect of any property, stocks, shares, debentures, securities or

goodwill or any other assets or net worth of a company or its liabilities, as per chapter XVII of the Companies Act. The

mechanism to prescribe valuation standards and syllabus for conduct of valuation education courses as well as specify the

requirements with regard to the contents of the valuation report have been laid out in the rules. Among other requirements, the

registered valuers have to be members of the registered valuers organisations (RVOs), recognised by the authority.

Taxation Committee of our Institute has started publishing fortnightly Tax Bulletin from October this year which helps the

practitioner very good guidelines with all details of latest amendments and important topic of professional interest. They have

also started conducting webinars on taxation matter which give good response from the members. I would request our

members to add valuable contribution to the Taxation Committee to improve the quality of the bulletin.

We have already taken initiative on membership drive throughout the region with the help of Chapters and the members in

Industry. Members who have defaulted in paying its annual membership fees are requested to pay their fees either through

Regional office/Chapter or online portal at the earliest.

Happy Guru Nanak Birthday & Karthik Purnima to the members & their families.

With warm regards.

CMA Pranab Kumar ChakrabortyChairman, EIRC of ICAI

SECRETARY’S COMMUNIQUE

EIRC NEWS 6

Respected Members,

Namaste !

Development is achieved through Professional Excellency. EIRC is always ahead in organising different programs and seminars on different topics for our members to excel in their professional arena.

Along with and besides Cost Audit and related matters, CMAs have other avenues to practice like Insolvency Profession, Valuation, Arbitration, Survey & Assessment etc., EIRC is dedicated to conduct various educational activities for our members on these special topics.

In the month of November, EIRC conducted a program on Valuation. EIRC will make efforts to continue the same on other topics also.

It is a high time and I request all our CMAs to grab these new opportunities to develop in different directions and levels in the profession.

Examinations are ahead in December. My best wishes to all the students appearing for the exams.

With regards,


CMA Cheruvu Venkata Ramana

Secretary, EIRC of ICAI

EIRC NEWS 7

1. Introduction:

This working paper is the end result of a study on fair price medicine shops, established in various government hospitals for the benefits of the poor patients of thestate West Bengal. The government had initiated the process of introducing generic medicines in state-run hospitals by opening fair price shops through public-private partnership (PPP). A public – Private Partnership (PPP) is a government service or private business venture which is funded and operated through a partnership of government and one or more private sector companies. These outlets are selling generic drugs at a whopping rebate on the maximum retail price (MRP), earning kudos from the people, but annoying a major section of drug sellers.

Union Ministry of Health and Family Welfare have appreciated the move taken by the government for patients to get medicines with up to 77 per cent discount on MRP (Maximum Retail Price). Quality control would be an issue, and the government has to be smart about sniffing out spurious medicines. Another challenge is very hard to change one's natural habits, as for long period, doctors have been prescribing branded drugs, while the people are also habituated in consuming branded medicines. Our country had initiated the process about 30 years ago. But the quality of

generic drugs was not up to the mark. The state's druggists association, which was earlier up in arms, has now asked its members to sell generic medicines with a higher rebate than the discounted rates at fair price shops. The Bengal Chemists and Druggist Association (BCDA) have more than 35,000 members across the state under its umbrella. BCDA asks doctors to start prescribing generic names. On the flip side, the transition attempt could prove costly for a section of medical representatives, as sales of a few branded drugs have shrunk dramatically. This initiative is sure to bring much-needed relief to people who are burdened with rising costs in almost all fields.

It would need sustained scientific effort from the authorities for people to cross this psychological barrier and change the medical system. Doctors need to understand the predicament of the patients, and willingly prescribe generic medicines. It has been a trend for a while for doctors to recommend medication without taking the cost into consideration.

The purpose of this initiative is to ensure round the clock availability of quality medicines, consumables, surgical items, implants etc. at preapproved discounted rates over the Maximum Retail Price (MRP) to provide utmost benefits to the patients through the fair price outlets within the

MEMBER’S SECTION

Fair Price Medicine Shop in West Bengal:

Study on This New Initiative New Challenges

Research Scholar, Department of Commerce & Management, West Bengal State University.

Sudipta Halder


Abstract Poverty in India is widespread and major problem of Health. The 21.3% of total population is under poorest of the poor condition as declared by the Govt. of India on 2012. Health is primary issues of people as the proverb “Health is wealth”. Considering point in today's India is skyrocketing prices of everything so pricing of medicine is not a miracle. Generic drugs cost less than branded ones, and the price difference is mainly due to the absence of marketing expenses incurred by pharmaceutical firms for their products. The Govt. of West Bengal (Health Department) has introduced “FAIR PRICE MEDICINE SHOP” with lot of challenges which help bring down the cost of medicines, thereby benefiting the end-consumers.

People are mortally scared to take the bold step of asking unwilling doctors for the generic names of medicines prescribed. Generic drugs are being pushed in a big way by the West Bengal government to replace expensive branded medicines and bring down the prices of essential drugs.

This research paper is based on data collected from State Bureau of Health Intelligence. The work was conducted to analysis the details of the govt. new initiative & challenges. The numbers of fair price medicine shop with the discount percentage level, the policy for new initiative, district wise distribution, challenges & beneficiaries participation are discussed in the paper.

Key word: FPMS, Discount %, PPP (P3), MRP.

EIRC NEWS 8

Medical Colleges and District Hospitals/SD Hospitals in the state of West Bengal.

2. Objective of The Study:

Taking into consideration for the significance of new challenges introduced by the government of West Bengal, the study was undertaken about PPP model of Fair Price Medicine Shop in West Bengal with the following objectives.

Ø To identify total number of fair price medicine shop with Partner organisation throughout the State.

Ø To check the % of discount relating to different partner organisation.

Ø Study on Product & services policy with quality assurance.

Ø Outlook of Beneficiary participation for FMPS.

3. Data & Methodology:

The data is collected from the report “HEALTH ON THE MARCH”, 2013-14 published by State Bureau of Health Intelligence, Directorate of Health Services, Government of West Bengal. The calculations are drawn using MS Excel.

4. Concept and Mechanism of Fair Price Medicine Shops:

With the progress of the Indian economy, especially when the focus is on the achievement of sustainable development, there must be an attempt to include maximum number of participation from all the sections of the society. But the lack of awareness and health ignorance among the population of the country is suffering from different health issues. Medicines constitute an extremely important and considerably large component of health and medical care services in the government health sector in our state. Due to several reasons, the existing supply and delivery system of medicines in most of these hospitals are insufficient to meet the need of the common people. The Department of Health and Family Welfare (DoHFW), Government of West Bengal (GoWB) has established the appropriate delivery system to the patients of the state for improved access to good quality medicines, consumables, implants etc. to suit the requirement of the patients at reasonable price round the clock by involving suitable and competent private sector organizations and use their strengths for establishment of round the clock operation of Fair Price Medicine Shops under Public Private Partnerships (PPP) as an 'Add-on-Facility' in the Government Hospitals in the state.

People are compelled to purchase branded medicine, forced to pay high price for that. The concept of generic medicine was vanished almost from doctors, medicine shopkeepers & pharmacists. In this situation, patients are dependent, to a large extent, on the private retail pharmacy outlets operating outside the hospitals. Information and reports indicate that these retail outlets have sizeable business volume through the

sales of a range of branded medicines at market price to the patients seeking treatment in these government hospitals. It is estimated that 60 – 70% of the total sales of these retail outlets are made from the prescriptions generated from these hospitals. The hospital authorities have neither any control on the pricing of these brands to make these available at lower than the market price to the patients of the hospital, nor can it institute its own monitoring mechanism to check, on an on-going basis, the quality of the medicines being sold in the outlets.

Figure 1: Channels of Drug Distribution

The 24x7 Fair Price Medicine Shops in the public hospitals of West Bengal have reduced the average price of critical medicine and appliances. Their planning of extensions of services beyond hospitals so that they reach out to a larger share of patients. The bid for the FPMS is based on the extent of discount on MRP a unit is willing to offer. This automatically brings down the price of the medicine nearer to the competitive price. The Govt. has taken step for prescribing in generic name for the benefit of patients. For medicines, the fair price outlet shall mandatorily stock and sell the Generic Form of all single ingredient and combination formulation as per the list of 142 itemsprovided under Schedule of the Agreement. FPMS need to sell the Orthopaedic items / appliances and accessories and consumables required for Dialysis Services in hospitals where these products are currently in use. The FPMS sell any product with doctor's prescription & provide the bill with the name of medicine, quantity, batch number, date of expiry etc. as per requirement of Acts and Rules.


EIRC NEWS 9

5. Details of Fair price Medicine Shop compare to Hospital category:

Table 1 Status of FPMS as on November, 2014

Category of Number of FPMS Planned forHospitals functioning establishment

Medical College & Hospitals 13 116

Dental College & Hospital 1

District Hospital 21

Sub divisional Hospital & Others 29

State General Hospital 16

Rural Hospital 14

Total 94 116

So as per the proposed plan, 81 % of total FPMS are running successfully.

Figure 2 :

Distribution of FPMS as per Hospital Category


6. Organisation Details working under PPP model of FPMS:

Sl. No. Name of The Organisation Number of Hospital attached % of Market sharewith the organisation

1 M.S. Life Drug House Pvt. Ltd. 5 5.32

2 Emami Frank Ross Limited 2 2.13

3 Apollo Pharmacy 12 12.77

4 The Calcutta chemist Corner 3 3.19

5 Kalpana Medical Agency 3 3.19

6 Annapurna Medicine Distributers 5 5.32

7 M/S. Santi Enterprise 4 4.26

8 Krishna Pharmacy 2 2.13

9 Tripti Medical Agency 1 1.06

10 Jhanwar Medical Store 2 2.13

11 Sytco INC 1 1.06

12 vibgyorenterpise 3 3.19

13 M/S. Angel 2 2.13

14 M/S lily medical stores Pvt. Ltd. 1 1.06

15 Annapurna Medicine 1 1.06

16 Aparna Enterprise 1 1.06

17 Burdwan Diagonastic& Research Center 5 5.32

18 M/s. Prerona Drug House 4 4.26

19 Vikash Pharmaceuticals 1 1.06

20 Koley Medical Agency 1 1.06

21 M/S Ghosh Medical 2 2.13

22 Bengal Syndicate 4 4.26

23 Desun Hospital & Heart Institute 5 5.32

24 M/S. Saha Agency 3 3.19

25 Singti Guti Atra Bilaspur SKUS Ltd. 2 2.13

EIRC NEWS 10

The Comparison ratio between hospital & Fair price medicine shop is also an important part. Because the patients of OPD & IPD of Govt. hospital are main target to cover with medicine & other related equipment. The total number of FPMS is 94.

The total numbers of hospital in eighteen districts are one thousand four hundred four (1404) only. The govt. has introduced one fair price medicine shop (FPMS) for the patient of average fourteen hospitals in a district. The


26 Ghosh & Brothers 1 1.06

27 Radha Distributers 1 1.06

28 M/S. Annesha Medical Hall , Birpara 2 2.13

29 KGN Enterprise 1 1.06

30 Surgimed Pvt. Ltd 2 2.13

31 Tangra Blue Print 1 1.06

32 North Bengal Medical Agency 1 1.06

33 Eastern Medical Services 1 1.06

34 M/S S.s Enterprise 2 2.13

35 H.M Enterprise 3 3.19

36 M/S Prerona Drug house 3 3.19

37 M/s Kundu Medical Agency 1 1.06

Sl. No. Name of The District Number of FPMS Number of Hospitals Including Rural hospital ,

BPHC & Primary Health Centers

1 North Twenty Four Parganas 8 82

2 South Twenty Four Parganas 5 96

3 Burdwan 6 145

4 Murshidabad 3 99

5 Medinipur 8 198

6 Hoogly 4 81

7 Nadia 10 74

8 Howrah 6 62

9 Kolkata 13 67

10 Maldah 4 54

11 Jalpaiguri 6 58

12 Bankura 3 94

13 Birbhum 4 81

14 Uttar Dinajpur 2 28

15 Puruliya 3 75

16 Cooch Behar 3 44

17 Darjeeling 4 38

18 DakshinDinajpur 2 28

Table 2: Details of Organisation working under PPP model of FPMS

Apollo Pharmacy is market leader among all. They have maximum number of FPMS and highest involvement under PPP model. Some organisations have only one FPMS operating successfully.

6. A. Details of Organisation operating in Hospital of the District

Table 3: Details of FPMS & hospitals in the districts

EIRC NEWS 11


establishment FPMS is also dependent on the number of hospitals & patients availability.

Figure 3: The % of FPMS in each District

7. Organisation with their average percentage of Discount

Sl No. Name of The Organisation % of discount (Avg.)

1 M.S. Life Drug House Pvt. Ltd. 66.25

2 Emami Frank Ross Limited 53.6

3 Apollo Pharmacy 51

4 The Calcutta chemist Corner 54

5 Kalpana Medical Agency 68.16

6 Annapurna Medicine Distributers 57.76

7 M/S. Santi Enterprise 62.37

8 Krishna Pharmacy 59.5

9 Tripti Medical Agency 51

10 Jhanwar Medical Store 66.5

11 Sytco INC 52.2

12 Vibgyor Enterpise 59.43

13 M/S. Angel 60.75

14 M/S lily medical stores Pvt. Ltd. 58.75

15 Annapurna Medicine 53.3

16 Aparna Enterprise 62.5

17 Burdwan Diagonastic& Research Center 66.5

18 M/s. Prerona Drug House 61.53

19 Vikash Pharmaceuticals 67

20 Koley Medical Agency 60.25

21 M/S Ghosh Medical 67

22 Bengal Syndicate 65.5

Figure 4: The % of Govt. hospital in each District

EIRC NEWS 12


The average discount percentage is considered as it varies from one to another partner organisation and as well as the same organisation is offering different discount percentage for their different outlet. The highest discount is offered by

8. Product / Services available in FPMS at discounted value:

Ø Generic / branded medicines as provided in the scheme of the list of 142 items. The list is dynamic.

Ø Medicines listed under the guidelines of JSSK & also approved by under RSBY scheme.

Tangra Blue Print. But, in other case, APOLLO PHARMACY & TRIPTI MEDICAL AGENCY offer lowest discounts in comparison to others. The average percentage of discount is 63.18.

Ø Additional medicines to meet the needs of patients.

Ø Medical consumables with mandatory list of 39 items along with surgical items.

Ø Cardiology related devices / implants (pacemaker, stent) used mainly in higher tier hospitals.

Ø Orthopaedic implants / devices.

23 Desun Hospital & Heart Institute 72.5

24 M/S. Saha Agency 70.5

25 Singti Guti Atra Bilaspur SKUS Ltd. 62.5

26 Ghosh& Brothers 65.5

27 Radha Distributers 72

28 M/S. Annesha Medical Hall , Birpara 69

29 KGN Enterprise 51.5

30 Surgimed Pvt. Ltd 71

31 Tangra Blue Print 77.2

32 North Bengal Medical Agency 72.43

33 Eastern Medical Services 70.5

34 M/S S.s Enterprise 61.8

35 H.M Enterprise 67.05

36 M/S Prerona Drug house 60.6

37 M/s Kundu Medical Agency 68.75

Table 4: Organisation with their average discount percentage

EIRC NEWS 13

8. a. Quality Assurance for the medicine:

Ø The private partner is completely liable for maintaining the quality & other important parameters as per the guidelines. The procurement system is fully incorporated with the scheme.

Ø The private partner can medicine or consumable directly from manufacturer or marketing agent having turnover exceeding forty (40) crore during last two financial years.

Ø Manufacturers must be revised schedule Medicine

complaint & conform to Current Good Manufacturing Practice standard.

Ø NABL (National Accreditation Board for Testing and Calibration Laboratories) or other approved laboratories of the state govt. will take participation twice a year for the Quality Audit including formulation & drug procurement of FPMS.

Ø The Quality Audits should follow the Quality Testing as per the Cosmetic Acts, 1940 and the Drugs & Cosmetic Rules, 1945.


9. Performance Review of FPMS:

Health dept.of West Bengal govt. have taken a brief of fair price medicine shops (FPMS). The details is shown below:

Table 5: Performance of 90 Fair Price Medicine Shops (FPMS)

The total number of beneficiaries from all eighteen districts is almost one crore sixteen lakhs with availed discount of ̀ 302.57 crore when the gross sales is ̀ 521.22 crore for December 2012 to November 2014.

Table 6: Comparative performance record of First 35 FPMS established in first phase

The growth rate is almost 94.4% in terms of gross Sales when discount avail by patients is 97.6 % & also the 44.8% of beneficiary growth is observed. Here two year comparison study is done.

Period Gross Sales (MRP) Discount Availed Number of[INR] (RS. In Crore) by Patients [INR] beneficiary

(RS. In Crore) (In Crore)

December 2012- November 2014

(Twenty Four Months) 521.22 302.57 1.16

Year Details Gross Sales (MRP) [INR] Discount avail by Number of Beneficiary(RS. In Crore) patients [INR] (In Lakh)

(RS. In Crore)

December 2012 - November 2013 149.22 90.66 38.57

December 2013 - November 2014 290.14 179.16 55.85

% Growth 94.4 97.6 44.8

SL. NO. District Name Total patients considered % of Beneficiaryas Beneficiary for discounts benefitted from FPMS

Facility of FPMS(Inpatient & Outpatients

including Emergency )

1. North Twenty Four Parganas 678473 5.74

2. South Twenty Four Parganas 1381947 11.70

3. Burdwan 569456 4.82

4. Murshidabad 570775 4.83

5. Medinipur 709882 6.01

EIRC NEWS 14

6. Hoogly 494308 4.18

7. Nadia 704089 5.96

8. Howrah 803041 6.80

9. Kolkata 2248919 19.04

10. Maldah 158441 1.34

11. Jalpaiguri 446546 3.78

12. Bankura 364324 3.08

13. Birbhum 605353 5.12

14. Uttar Dinajpur 337870 2.86

15. Puruliya 467359 3.96

16. Cooch Behar 261735 2.22

17. Darjeeling 522085 4.42

18. DakshinDinajpur 488277 4.13

Table 7: District Wise Beneficiary number & percentage benefitted from FPMS for Dec12-Nov14

From the table 7, it is concluded that the Kolkata wasin leading position with 19 % benefitted beneficiaries. The patients of Kolkata & outside of Kolkata (district Refereed Patients) are more aware & favouring the discount facilities. On the other side, Maldah district was with least percentage of 1.34 of total beneficiaries. Average 5.5 % of beneficiaries of each district are benefitted by the govt. scheme FPMS.

Figure 6: % Beneficiary benefitted from FPMS

for last 24 months (Dec12- Nov14) in each District

The data was for the twenty four months (December 2012 to November 2014).

10. Limitations of the Study: The report is the representation of Govt. programme for the specific period. From the report, it is difficult to find out the factors influencing for different level of discount percentage offered by different FPMS. Details of Medicines & others related equipment is not reported to the dept. with specific periodic interval. Operation policy of inventory is not described properly.

11. Conclusion and Suggestions: The overall study reveals that the FMPS are good step for the poor & lower middle class family. The myth 'FPMS sells low quality medicines'- is not true, as government surveillance is stringent and it is not required to compromise the quality to earn profit as explained. FPMS incur loss during sale of certain medicines but compensate it through voluminous sale of other items along with branded medicines. Big customer base, wide acceptability, low/subsidized establishment cost and government patronage enable them to earn considerable profits on this venture.Even the small retailer & branded medicine shop of urban & rural areas are offering certain level of discount percentage on branded / generic medicine & medicine equipment. The profit margin is less but the price discount policy relieved household pocket in each class of our society. The FPMS idea tells us that people are willing to pay a bit more if they could be guaranteed good quality medicines round the clock. To mitigate the excessive marketing margin imposed on the price of the branded medicines, the pressure is on the doctors to recommend generic drugs with some success, but greater success is expected and desirable. Few suggestions are incorporated as remedial measures for the improvement of this policy.


EIRC NEWS 15

© Fair price medicine shop is not in consideration of awareness from govt. of West Bengal. More campaign is essential from local administrative level.

© Govt. should take care to remove the wrong perception like below / bad quality medicine offering in discount from FPMS.

© Non availability of medicine is another responsibility of FPMS & doctors as well as Health administration.

© Generic name should be the first opinion of doctor on prescription. Most time the govt. order is ignored by the doctors & it is considerable due to lack of medicine literacy/ awareness among patients.

12. References: Details of FPMS, HF/PPP/21/2012/Pt-IV/464, issued by Govt.

of West Bengal.

Dutta Arijijta, Bandopadhaya Satarupa, "Fair Price Medicine Shops in West Bengal: An Impact Evaluation", 2014.

Health on the March, 2013-14, State Bureau of Health Intelligence.

Mondal Atish Prosad, Sharma Aditya "Fair Price Medicine Shops in West Bengal",youthink, vol x, 2015.

Marjit Sugata, "Fair Price Medicine Shops in West Bengal", ISSN (Online) - 2349-8846

Report on Public Health in West Bengal -Current Status and On-going Interventions.

http://archives.peoplesdemocracy.in/2013/1027_pd/10272013_bengal3.html

http://www.maamatimanush.tv/articles.php?aid=182


EIRC NEWS 16

The Introduction of Goods and services Tax (GST) Act,2017 is a landmark change in the field of Indian Indirect Taxation since independence .The new tax regime has integrated different types taxes on goods and services across whole supply chain with the assurance that it will relief manufacturers and consumers by reducing cascading(Tax on a Tax ) effects .

GST is expected to reduce “Tax Gap”(difference between a tax payer should pay and what taxpayer actually pays ) in the Indian economy and enhance tax compliance .GST Act,2017encourages pre dominantly Self assessment

Section 73 of Central Goods & Services Act ,2017 Section 74of Central Goods & Services Act , 2017

Issuance of Show cause Notice (SCN)-Section 73(1) Issuance of Show cause Notice (SCN)-Section 74(1)

l According this Section , SCN to be issued in case tax l According to this Section, SCN to be issued in theis not paid or short paid or erroneously refunded or event of tax is not paid or short paid or erroneouslyinput tax wrongly availed or utilized without fraud or refunded or input tax wrongly availed or utilized withwillful misstatement or suppression of facts. fraud or willful misstatement or suppression of facts.

l Summary of SCN to be issued in Form GST DRC -01 l Summary of SCN to be issued in Form GST DRC -01vide Rule 142(1) of GST Rules ,2017. vide Rule 142(1) of GSTRules , 2017.

Time limit for issue of SCN-Section 73(2) Time limit for issue of SCN-Section 74(2)

l This section deals with time limit for issuance of SCN. l In the case of Section 74(2), SCN is required to beSCN is required to be issued at least three Months prior issued at least six Months prior to the limit set forto the limit set for adjudication . adjudication.

Service of a statement for subsequent period. Service of a statement for subsequent period. SectionSection 73(3) and Section 73(4) 74(3) and Section 74(4).

l In place of SCN , GST authority can issue mere l Similarly, in place of SCN, mere statement containingstatement containing details of Tax not paid or short details of Tax not paid or short paid or erroneouslypaid or erroneously refunded or input tax wrongly refunded or input tax wrongly availed or utilized can availed or utilized for subsequent periods , where be served for subsequent periods , in case grounds are grounds are same which have raised in the previous same which have raised in the previous period.period also . This statement is equivalent to the service of notice.

The service of such statement shall be deemed to be service of notice . l Summary of Statement to be issued in Form DRC 02

l Summary of Statement to be issued in Form DRC 02 vide Rule 142 (1)(b). vide Rule 142 (1)(b) of .

process .Tax compliance under self-assessment system requires the taxpayer to report his/her tax liabilities on the basis of legal positions that taxpayer believes to be correct. This self assessment provisions create an absolute liability on the tax payer when any provision of the Act is contravened by the Taxable person. This article interprets section 73 & 74 of Central Goods & Service Act , 2017 which deals with provisions of tax not paid or short paid or erroneously refunded or input tax wrongly availed or utilized without / with fraud or willful misstatement or suppression of factsin lucid manner for easy understanding.

MEMBER’S SECTION

Demands under Central Goods & Services Act , 2017

CMA Debnath Ghosh

Cost Accountant , MBA (Finance)


EIRC NEWS 17


Payment of Tax before service of SCN : Payment of Tax before service of SCN :Section 73(5) &73 (6) Section 74(5) and 74 (6)

l If any taxpayer pays voluntarily total tax dues along l In the case a taxpayer pays total tax dues along withwith applicable interest before issuance of SCN or applicable interest and penalty at the rate of 15 perstatement , then proper officer shall not issue SCN / cent before issuance of SCN, then proper officer Statement to the Tax payer. shall not issue SCN to the Tax payer.

l In the case of voluntarily payment, Tax payer shall l Information of Voluntarily payment remittance forgive payment information to concerned authority in Tax , Interest & Penalty should be submitted beforeForm DRC 03. Concern authority should issue an proper officer in Form DRC 03. Payment should beacknowledgement accepting the payment in Form acknowledge by concern authority in Form DRC 04DRC 04vide Rule 142 (2)of CGST Act , 2017. vide Rule 142 (2)of CGST Act , 2017.

Issuance of Notice in case voluntary payment amount Issuance of Notice in case voluntary payment amountis less than that of actually Payable -Section 73(7) is less than that of actually Payable -Section 74(7)

l According to this Section SCN or statement to be issued, l As per Section 74 (7), if the proper officer is on theif the proper officer is on the opinion that the amount opinion that the amount paid voluntarily by anypaid by voluntary payment under subsection 75(5) falls taxpayer under subsection 75(5) falls short of theshort of the amount actually payable. amount actually payable , he shall issue SCN or

statement as per section 74(1).

Payment of Tax dues and interest within 30 days of Payment of Tax dues and interest along with 25% SCN. Section 73(8) penalty of Tax payable within 30 days of SCN.

l In the case Tax payer makes payment of tax dues along Section -74(8)with applicable interest with in 30 days from the date of l In the case Tax payer makes payment of tax duesissue of Notice , then proper officer shall issue a along with applicable interest and penalty @25% ofcertificate in Form DRC 05 concluding the proceedings tax payable with in 30 days from the date of issue ofin respect of the said notice. Notice , then all proceedings of the notice shall be

deemed to be concluded .l Post remittance above said payment, certificate

evidencing closure of all proceedings in Form DRC

05 to be issued by proper officer.

Determination Tax , Interest and Penalty -Section 73(9) Determination Tax , Interest and Penalty-Section 74(9)

l After issuance of SCN, considering Taxpayer's l The proper officer shall, after considering representation , proper officer shall determine amount representation of the tax payer if any shall determineof Tax , interest and penalty. amount of Tax , interest and penalty.

l Here, Penalty amount is restricted to 10% of Tax or ten l Here , penalty amount is equal to the Tax amount.thousand whichever is higher. l The representation referred as above shall be in the

l This section stipulates a opportunity of hearing to be Form DRC -06.given to the tax payer before determination tax, interest l The summary of the order issued under Subsectionand penalty against the taxpayer 74(9) shall be made in Form DRC 07.

l The representation referred as above shall be made through submission of Form DRC -06.

l The summary of the order issued under Subsection 73(9) shall be made in Form DRC 07.

Time Limit for issue of Order -Section 73(10) Time Limit for issue of Order-Section74(10)

l Adjudication of SCN shall be completed with in three l Adjudication of SCN shall be completed with in fiveyears from the date of annual return for the financial years from the date of annual return for the financialyear to which disputed amount relates. year to which disputed amount relates.

EIRC NEWS 18


l As per section 75(10), the adjudication proceedings l As per section 75(10), the adjudication proceedingsshall be deemed to be concluded if the order is no not shall be deemed to be concluded if the order is no notissued with in three years. issued with in five years.

Payment of Tax dues. interest and Penalty within 30 days Payment of Tax dues and interest along with 50%of Adjudication Order -Section 73(11) penalty of Tax payable with 30days of adjudication

l This section gives another opportunity to the tax payer Order- Section 74(11)to close the litigation post adjudication order. In the l According to this section, if any Tax payer makescase Tax payer makes payment of tax dues along with payment of tax dues along with applicable interestapplicable interest and penalty with in 30 days from and penalty (50% of tax payable ) with in 30 daysthe date of service of order, then all proceedings in from the date of service of order, then all proceedingsrespect of the SCN or statement shall be deemed to be in respect of the SCN or statement shall be deemed toconcluded. be concluded.

l Summary of Penalty amount under section 73. l Summary of Penalty amount under section 74.

Before issue of SCN Nil Before issue of SCN 15% of Tax Amount

Within 30days of Issuence of SCN Nil Within 30days of Issuance of SCN 25% of Tax Amount

After 30 days from SCN or issue After 30 days from SCN or issueadjudication order 10% of Tax amount adjudication order 50% of Tax Amount

or Rs 10000 which Other Case where Tax payer does ever is higher not pay voluntarily 100% of Tax

Amount

Payment of all statutory Dues Penalty Amount Payment of all statutory Dues Penalty Amount

Appeal against adjudication order .

Under Central Goods & Services Act, 2017 In the case taxpayer is not satisfied with the adjudication order passed by the tax officer may file appeal before First appellate authority . Alternatively ,it is also possible that the Department may not agree with the adjudication order in such cases department can also file review application /appeal . Every appeal shall be made through prescribed form and shall be filed within three months from date of communication of impugned order . A Tax payer/ Department aggrieved by the decision of first label appellate authority may approach second label appellate authority that is appellate Tribunal . Different stages of appeals under GST

Stages of Appeal against Appeal to beAppeal order of filed in1st Adjudicating Authority First Appellate

Authority

2nd First Appellate Authority AppellateTribunal

3rd Appellate Tribunal High Court

4th High Court Supreme Court

Comments :

ü Unlike our earlier Central Excise Act, 1944 or Finance Act , 1994 there is a fixed time frame for adjudication under CGST Act . Limitation period of adjudication of any SCN is three years or five years from the due date of filling annual return as mentioned above .

Effectively Department has to complete adjudication process within 36months and 60 months from the date of filling annual return as per section 73 and 74 respectively .

ü On the contrary , it is to be noted that time limit for issuance of SCN is 3/6 Months prior to the time limit of issuing adjudicating order . Meaning thereby , Department can issue SCN within 33 months /54 months as the case may be from the date of filling of annual return .

Therefore in case department issue any SCN at the fag end of limitation period that is just before 33 months /60 Months ,then tax payer will get less than three or six months to file his/her reply .It violates principal of natural justice .

ü In the Earlier Central Excise Act , 1944 and Chapter V of the Finance Act, 1994 ,the term

EIRC NEWS 19


suppression has not been defined in the Central Excise Act , 1944 or Finance Act , 1994 . However , the term “Suppression” has been defined under Section 74 as under

“Suppression means non disclosure of facts or information which a taxable person is statutorily required to declare in the return , statement , report or any other documents furnished under the Act or rules made there after or failure to furnish any information as asked by any officer in writing”.

Hence, the term “Suppression” could be bifurcated as follows,

l Non declaration of facts or information in the Return, statement , report or any other documents

l Failure to furnish any information as asked by any proper officer .

Here , law says in the case any taxpayer inadvertently does not furnish any information as he asked to furnish by the proper officer will lead to suppression and penal provision .This is a rather harsh provision . GST is a completely new system of tax and there will be many errors out of ignorance. Taxpayers will be penalised for making genuine errors.

However, It is settled law that an order imposing a penalty for failure to carry out a statutory obligation is the result of quasi-criminal proceedings and penalty will not ordinarily be imposed unless the party has acted deliberately.

Hindustan Steel Limited Vs State of Orissa 1970 26 STC 302 SC .

Union Of India vs M/S Rajasthan Spinning & Weaving Mills 2009 (238 ELT )3.SC

After defining the term suppression, still now willful misstatement may may lead to number litigation like past years.

ü According to Section74(3) of Central Goods and Service Tax Act , 2017 if the grounds are same with reference to the earlier issued show cause notice in the previous period , the proper officer can issue mere statement containing details of Tax not paid or short paid or erroneously refunded or input tax wrongly availed or utilized . It is pertinent to mention that when grounds or relevant facts are known to the department at the time of issuance of first SCN , invocation section 74(3) are not applicable for subsequent periods based on suppression of facts . [Nizam Sugar Factory Vs. Collector of Central Excise [2006 (197) ELT 465 (SC)].Hence , issuance of statement for the subsequent period on the grounds of suppression of facts or willful misstatements when department is aware of facts may increase tax litigation .

Conclusion :

The justification for imposing Tax demand along with applicable interest and penalty under any Act should be to promote tax compliance .This is expected any Tax provisions should distinguish compliant taxpayers from non-compliant taxpayers . Under GST Act , Tax payer particularly Small and Medium Taxpayers having inadequate knowledge on new GST system may find difficulties to comply various provisions of GST Act , this may issuance of SCN under section 73 and 74 of CGST Act .All Taxpayersshould be extra cautious to avoid any non compliance and unwanted penalty and interest .

EIRC NEWS 20

All young professionals after qualifying their professional examinations are generally well prepared in their domain knowledge to undertake assignments in the areas where they have been trained.

However, in many cases, it is observed that apart from the domain knowledge, these young professionals need something else by way of soft skills which play a great role towards their career progress in the future. Indeed, lack of proper soft skills and their proper application in a given situation put the young professionals in difficult situations in workplace and seriously hamper their career progress and advancement.

In this context, a set of soft skills which are really required of young professionals are:-

1. Strong Work Ethic :

This is one of the fundamentals of skills expected of any person and essentially of a professional. It has been observed, in many situations that lack of good work ethic has cost a person his / her job even though he / she may have very good domain knowledge for the task.

Qualities which cover this element are demonstration of sincerity, honesty and dedication toone's job so that necessary confidence can be reposed on him / her by the employer.

2. Attitude :

This is also one of the basic requirements. Employers always look for a person with positive attitude demonstrating his/ her willingness to accept responsibility and deliver the results within a given time.

Lack of positive attitude leads to stress and fatigue and in due course tells upon one's health and endurance, resulting in gradual diminishing performance over time.

3. Communication skill :

Good communication skill is also one of the major requirements expected of young professionals. This covers both oral / verbal fluency and writing / drafting skills. Many professionals, in spite of their very good domain knowledge, fail to impress their superiors due to

their inability to express their thoughts and ideas properly either verbally or in writing or by both the means.

To avoid these unhappy situation, many organization conducts practical classes to improve their employee's communication skills so as to enable them express their thoughts and ideas in a candid way.

This skill can be further described as under:

- For young professionals about to enter employment: This would cover basic skill as to writing good resume ( with covering letter ) highlighting personal background , education with achievements, work experience , if any , potential competencies and interest , career ambition in the next five years, etc.

- For young professionals who have just entered employment: This would cover basis skill as to writing ordinary commercial letters, commercial / administrative reports with inference, office memos, etc. Orally, they should be able to express their opinions / views clearly using correct diction / sense of words, etc.

- For matured professionals already in employment / practice for some time: This would cover skill as to writing crucial letters involving company decisions, report writing with important data / inference which would impact / influence/ help important managerial decisions , drafting Orders/ Circulars / Memos / Notices, etc. having administrative impact. Orally, they should be fluent in expressing their opinions, views, ideas etc. in a confident manner and being analytical and assertive at the same time.

4. Time Management skill :

Since time is one of the most volatile resources at our disposal for doing anything worthwhile, managing time in a way to accomplish one's allotted task and duties goes a long way in satisfying one's career objectives. Good time management skill also fosters sense of

MEMBER’S SECTION

Soft Skill Development for young professionals, especially, young CMAsP. K. Chakravarty

ACMA , ACS , AIIMS

(Practicing Company Secretary and Corporate Counsel / Management Consultant )


EIRC NEWS 21

satisfaction and leads to achievement of various personal objectives in one's life without much stress and strain.

The skill of managing time with respect to one's regular requirements of accomplishing various tasks, if practiced properly, can make a person punctual & disciplined and further enable him to prioritize his various tasks without creating unnecessary overlap and duplication.

A simple rule to achieve this objective is to classify one's tasks into very important, important and less important and accordingly allot the available time at one's disposal in the following manner: very important tasks (around 60% time),important tasks (around 30% time) and less important tasks (around 10% time).

5. Being a Team Player and Pro-active :

This is a fundamental attribute expected of any one in a workplace and especially of a professional. Since no body works alone and the sum total of every body's work in an organization results in the ultimate achievement of organizational goals, people must work as a team, co-operating with other cross functional areas and other employees who also contributes to the common objective of an organization.

Further, young professionals should be pro-active in their work place and in a given work situation so that they can demonstrate their sense of responsibility and involvement with the task(s) assigned to them and earn recognition for being sincere.

6. Self-confidence , Self-motivated & Courteous :

This quality must be inculcated and should be demonstrated by professionals in their workplace so that due confidence can be reposed on them for a given task. This leads to professional satisfaction on the part of the concerned person and earns him the required professional dignity.

Young professionals should be self-motivatedand should not be pushed for doing their assigned tasks. This attribute can be inculcated by developing a sense of belonging with the organization and a sense of responsibility with the task.

Being courteous is also necessary in a work place and also elsewhere where a person deals with others so that the basic tenet of a civilized person, that is, discipline is demonstrated in his / her behavior / talks / body language and handling any situation.

7. Flexibility & Adaptability :

This is also a very important requirement as one needs to

adapt to a given situation and to perform as well. Hence, one has to be reasonably flexible in his attitude & mindset to be able to adapt under various circumstances in a work place without creating any bottleneck in the work flow or any work process.

This calls for reasonably good EQ on the part of a professional from his young age which can be further groomed so that the person can adapt himself under stressful situations without compromising on his performance. This quality, if inculcated properly, can result in a long term and satisfying career progress of a person in any work place.

8. Assertive and being Attentive :

In a competitive and commercial world, a professional has to be assertive to be able to express his / her thoughts & ideas, views and decisions in a confident manner. Of course, this calls for sound domain knowledge and good communicating ability which has been mentioned in the foregoing.

However, it has been observed that many professionals, in spite of having very god domain knowledge and good communication skills, fail to confidently assert their views, thoughts, ideas and, eventually, decisions in a given situation. They fail to create their impression and importance in a given situation and unnecessarily compromise with views of others.

Being attentive is another essential quality expected of a young professional as they are very much on a learning curve in the beginning of their career. By being attentive, they can learn and absorb many basic elements relevant to their domain knowledge as well as to the culture of the work place which can immensely help them in their career progress. Moreover, by remaining attentive, one can learn many new things relevant to their task performance and especially for professionals, both young and matured, there is no exception to being attentive.

9. General Awareness & keen to learn new Applications :

A professional must have reasonable awareness of facts and current information relating to the economy, industry & commerce apart from his / her specific domain knowledge. These would cover: information about money market / capital market / financial market, general awareness of monetary and fiscal policy, important changes in taxation and economic laws, possible impact of budgets on certain industry, direction of economic development, fair idea of important business laws, etc.

MEMBER’S SECTION


EIRC NEWS 22

Young professionals should also cultivate the habit of reasonably updating themselves in their functional areas so that they are abreast of current developments in their area of specialization and should be keen to learn important new applications ( technical or otherwise ) pertaining to their domain on a regular basis.

10. Being good at handling Computers and reasonable understanding of Information Technology :

Since all organizations now run their entire data relating to any area of work in computers governed by dedicated packages, to -day's professionals must be adept to handle information in computers, with reasonable expertise in MS WORD, MS EXCEL, MS POWER POINT, etc. and in handling Internet. Good presentation skills (Power Point presentation) related to their tasks is also desirable from young professionals.

Many organizations conduct in- house tailor-made courses in computers for their employees to enable them handle various information / data systems in an efficient manner.

11. Multitasking :

This is a quality or ability of a professional to handle more than one task (related to their domain) at the same time without creating any bottleneck or disruption in the work flow.

By developing this skill, one also develops the skill of delegation, ability to prioritize& co-ordinate and the ability to oversee different aspects of a job/ task so as to understand the cross functional relationships between various tasks. These understanding is important for professionals in any field in order to improve expertise and competence in their day to day performance. It has been seen that employers like people who have the ability of multitasking or at least holds potential for the

same.

12. Being Resilient and Patience :

This is another quality expected of a professional, young or matured, so that the focus for achieving the desired objective is not lost, in case of delay or any obstruction. Sometimes, it improves the negotiating skill of the professional and helps him achieve the desired result in respect of any activity in spite of initial difficulties. In a team, it improves team moral as they remain focused and optimistic where difficulties and hindrance suddenly arise.

13. Being Well – Groomed :

A professional should be well groomed displaying good taste, sophistication, and culture in his /her attires and accessories being carried. The dress should speak of being official and formal and be of light color. Cleanliness should be given high importance which essentially includes personal hygiene. A well groomed person wins the first impression anywhere and in securing employment opportunities, grooming properly is no exception.

To sum up, the aforesaid skill requirements are only indicative and the extent of their application by a person in a given situation varies widely and from time to time. The crux of the issue is that the individual concerned must apply his / her sense of perception in a given situation to understand to what extent he/she should express or demonstrate any one or a combination of more than one of these skills to successfully achieve the desired objective under a given set of circumstances. . It is said that common sense is the best soft skill of a person in a given situation, but common sense cannot be taught and, more importantly, common sense is not common to all.

MEMBER’S SECTION


EIRC NEWS 23


EIRC Activities

A seminar was organized by EIRC on “Overview of GST – Challenges during Implementation” on 02.11.2017 at EIRC. Shri Ajay Agarwal was the speaker. The session was very lively & interactive.

On 15.11.2017 another Seminar was organised by EIRC on

Career Awareness Programme was organised at Bholananda National Vidyapith in Barrackpore on 10.11.2017. CMA Debosmita Sengupta, Officer (PD & SC), EIRC & Shri Mainak Biswas, Assistant, EIRC conducted the awareness programme.

Career Awareness Programme was organised at Sahapur Harendranath Vidyapith in New Alipore on 10.11.2017.Shri Prabir Banerjee, PD & Education Officer, EIRC & Shri Ajoy Ghosh, Officer, EIRC conducted the career awareness programme.

Career Awareness Programme was orgainsed at South Suburban School in Bhawanipur on 10.11.2017 Shri Trilochan Ghosh, Education Officer (IT), EIRC & Smt. Poulomi Moitra, Dy. Superintendant, EIRC visited the school & conducted the awareness programme.

"Contract Management - Role of CMAs". CMA Balak Nath Bhattacharya was the resource person.

Printed & published by CMA Shiba Prasad Padhi on behalf of owner EIRC of ICAI, printed at Moodran Graphica, 41, Gokul Boral Street, Kolkata - 700 012. Published at 84, Harish Mukherjee Road, Kolkata - 700 025.

Editor’s name : CMA Arundhati Basu

RNI No. WBENG/2008/24583

Publication Date : November 2017

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