BCAS President CA Narayan Pasari's Message for the Month of July 2018

 

Dear Members,

The FIFA World Cup 2018 has taken the globe by storm. Sweeping across continents, it is the cynosure of the world, commanding the attention of an estimated 4.5 billion people. In football there are 22 players on the field with just one mission – to score goals! The word ‘goals’ is a short word, but behind it is a long and rigorous regime of hard work, perseverance, sacrifice and love of what you are doing. Those seemingly effortless passes and taps that lead to goals are the result of gallons of sweat and an eternity of mental discipline.

This is my last communication to you as President of BCAS; and I too would like to talk about goals...but a different type! In July 2017, at the ‘kickoff’, I defined four goals that I would like to focus on to keep Team BCAS a consistent winner and champion. They were Transformation, Yuva Shakti, Digitisation and Networking. At the end of my tenure, I wish to review those goals and achievements with you. Details under each goal are only illustrative though we as a Team could achieve much more. The Managing Committee Report lists all of them.

With the accelerating pace of change, Transformation has become a key goal. By constantly scoring here, one will be well equipped to surge ahead on the wings of new technologies, systems, ideas. At BCAS, we smoothened the path to transformation by offering a wider spectrum of contemporary topics that were effectively covered through events, publications and new media during the year. These include:

◆ Experts reviewed topics including new reforms like GST, BEPS, POEM, benami transactions, strengthening the profession, NIFTY 10K and beyond among others.

◆ BCAJ introduced three new features – Decoding GST, Revisiting FEMA and Statistically Speaking.

◆ Recorded and provided free access of short GST videos by experts on 28 topics which got over 39,000 + views.

With 65% of India being under 35 years, India is a young nation with a fantastic demographic advantage over many nations. And therefore, Yuva Shakti was made a pivotal priority in our annual plan. It is India’s youth who have to be empowered to lead the nation in the decades ahead. Here are a few steps we took at BCAS in this direction.

◆ Encouraged the youth as speakers at Lecture Meetings, Conferences, Workshops & others. They also contributed towards the Journal and the annual Referencer.

◆ Organised a felicitation program for newly passed CAs where 100+ participated in the interactive and motivational session.

◆ Tarang 2K18 – the Jal Erach Dastur CA Students Annual Day offered youth a platform to showcase their talents and creativity...it was a great success with over 600+ students attending the event.

We are living in a digital generation whether we like it or not, Digitisation is fast displacing the conventional in most spheres. At BCAS, we made it a commitment to keep pace. Having harnessed digitisation, we are now better placed to disseminate knowledge to our members across time and geographical boundaries with enhanced convenience. Here are some of the fruits of our efforts.

◆ BCAS E-Learning Platform – Courseplay was launched. This intuitive and user-friendly platform offers enhanced learning through greater interaction and ease.

◆ The power of social media was explored and today we have crossed 22K+ followers on our handle @bcasglobal. Successful campaigns were conducted on the budget and there are always ongoing campaigns.

◆ YouTube is another avenue through which BCAS popularity is spreading. There are over 6000+ subscribers who regularly tune in to the videos to catch up on the many initiatives of the Society which is now put up after most of the events.

Networking is a critical goal to sustain the long-term growth of our careers, firms and the Society. We stepped up our efforts to building and bettering relationships with the government, government bodies, like minded professional organisations, institutions and others . To pave the way, we embarked upon a few new roads.

◆ Organized GST training programs with NACIN for our members and also retail traders.

◆ To give an impetus to corporate relations and networking, we organised a 2 day Start Up Conference at Bengaluru, jointly with the Karnataka State Chartered Accountants’ Association.

◆ Joint Programs were conducted with Indore Management Association, Direct Tax Practitioners Association-Kolkata, Jaipur Chartered Accountants Group and Chartered Accountants Association, Ahmedabad.

On the national front the ruling Government scored an amazing goal – with GST becoming an acknowledged success. It united the national market with a single tax and most importantly it ensured that the inflation rate did not rise. The other key benefit of GST is the formalisation of the economy with the adoption of transparent digital processes. More individuals and firms have now entered the tax system and collections have gone up considerably. The government hopes to stabilise GST revenues at collections of Rs.1 lakh crore per month.

Many improvements have been planned to enhance the GST experience. The compliance process and registration system are two key steps. Also on the anvil are fewer slabs, bringing more goods under GST and lowering of tax rates. Undoubtedly, GST has been a big success and government hopes that bogus bills and other means of dishonesty will soon disappear.

1st July was the CA day of our Institute and BCAS will celebrate its Founding Day on 6th July . Both organisations enter their 70th year of existence. BCAS has always been a principle-centered and learning-oriented organisation promoting quality service and excellence in our profession. The organisation has been a catalyst to bring out better and more effective Government policies & laws in order to have clean & efficient administration and governance. We have been reinforcing the importance of Principles, Values and Ethics which remain the core of the BCAS Vision to ensure that the flag of CA profession keeps flying high.

It is with a considerable measure of contentment that I end my tenure as President of BCAS, one of the finest organisations I have been associated with. I sincerely believe that this Society with its proven credentials is on a solid foundation to face the future specially as it approaches its Platinum Jubilee Year.

Before I sign off, I would like to express my sincere gratitude to the many people who walked the talk with me. A big ‘Thank You’ to all my office bearers Sunil , Manish, Suhas and Abhay who worked diligently with me to steer BCAS on the way to success throughout the year. I also appreciate the earnest efforts of all the past presidents including the chairmen of the nine sub committees who have wrestled with tough deadlines and budgets to come up with excellent programmes during the entire year. Many, many thanks to all the convenors, coordinators, contributors and speakers …. it is your unflagging efforts that have raised the standards BCAS is known for.

I would also like to express my gratitude to the back office of the Society, Events, Accounts, Knowledge, Communications, IT and Marketing Teams along with the Office Boys who through their hard work and team spirit have kept the wheels of BCAS turning smoothly, no matter what ! And lastly, but not the least, I would like to extend a huge ‘Thank You’ to each and every member of the over 9,000 strong BCAS family and all the journal subscribers for their unstinted support and enthusiastic participation in all activities that have made the Society the respected winner it truly is!

At the AGM of the Society on 6th July 2018 , I pass on the baton to the incoming President CA Sunil Gabhawalla. I convey my best wishes to him and the new team of Office Bearers for the coming year.

I flag off for the last time from this communication by sincerely wishing that each one of you target and achieve all your goals in life !

Feel free to write to me on president@bcasonline.org

With kind regards

CA. Narayan Pasari

President

 

 

 

Site Address & Location

Bombay Chartered Accountants' Society
7, Jolly Bhavan 2, Ground Floor, New Marine Lines, Mumbai - 400020
Join Us: