An insightful and practical workshop was conducted on 15th May, 2024 focusing on the prevention of legal disputes, ensuring recovery of money without litigation, and the most crucial compliances related to GST. This workshop was organized collaboratively by COSIA (Chamber of Small Industry Associations) and TSSIA (Thane Small Scale Industries Association).
The event commenced with a warm welcome by Mr. Ninad Jaywant, the Hon. General Secretary of COSIA. Mr. Bhavesh Maru, Vice President of TSSIA, delivered insightful opening remarks, emphasizing the importance of legal preparedness and compliance for MSMEs to safeguard against potential business disruptions and financial losses. Mr. Maru highlighted the workshop’s aim to equip participants with actionable strategies to safeguard their business interests effectively.
Following the opening address, a felicitation ceremony was held. Mr. Jaywant honored Adv. Sanjay Dwivedi, while Mr. Nipun Mehta, Hon. Jt. Secretary of COSIA, felicitated Adv. Alhad Oak. Both speakers are renowned for their extensive experience and expertise in legal and GST-related matters.
Workshop Highlights:
The workshop was divided into two main sessions. The first session focused on avoiding legal disputes and ensuring recovery of money without litigation, while the second session addressed critical GST compliances.
Session 1: Avoiding Legal Disputes and Ensuring Recovery of Money
Adv. Alhad Oak, Founder of YNZ Legal, led this session. With his background as a lawyer and company secretary, Adv. Oak shared valuable insights and practical tips on maintaining robust legal documentation. He emphasized that strong documentation is pivotal for recovering money and protecting business interests against legal claims and litigations.
Key topics covered included:
- Basics of Legal Documentation: The importance of well-drafted contracts and agreements.
- Avoiding Legal Disputes and Claims: Strategies to preemptively address and resolve potential conflicts.
- Ensuring Recovery of Money: Practical tips to secure payments without resorting to litigation.
- Case Studies: Discussion of ten relevant case studies, providing real-world examples for large, medium, and small industries.
Participants engaged actively in a Q&A session, seeking advice on specific legal challenges they face in their businesses.
Session 2: GST Compliances
Adv. Sanjay Dwivedi, Founder of SRD Legal and author of “A Practical Guide to GST,” conducted the second session. With over 30 years of experience in tax law and having worked extensively in the Central Excise department, Adv. Dwivedi provided in-depth knowledge on GST compliance.
Key topics covered included:
- Important GST Compliances: Critical regulations that businesses must adhere to.
- Avoiding Litigation: Best practices to prevent disputes with tax authorities.
- Handling Litigations Properly: Effective strategies for managing ongoing legal issues.
- Current Debates: Discussion on issues currently being debated within the GST framework.
Adv. Dwivedi’s session also featured a robust discussion segment, where participants could address their GST-related queries and gain insights into navigating complex tax regulations.
The workshop concluded with a vote of thanks by Mr. Nipun Mehta, appreciating the speakers for their invaluable contributions and the participants for their enthusiastic engagement. The session provided attendees with practical tools and knowledge to mitigate legal risks, ensure financial recovery, and maintain GST compliance, fostering a more secure and efficient business environment.
The workshop saw attendance from a diverse group of professionals including promoters, founders, partners, exporters, importers, accounts and finance heads, procurement heads, and HR and admin heads. This broad participation underscored the universal relevance of the topics discussed, cutting across various roles and industry sectors.
This interactive workshop successfully addressed the critical aspects of legal and GST compliance, offering participants comprehensive guidance to enhance their business operations and avoid legal pitfalls.