Kolkata Metro Rail Corporation Limited (KMRCL) has engaged KPMG, one of the big four auditors to facilitate the implementationof Goods and Services Tax (GST).
On Wednesday, Kolkata Metro Rail Corporation Limited held a seminar on GST and transition to the GST regime.
It was decided that KPMG will help the Kolkata Metro Rail Corporation Limited and its business partners and contractors on GST issues.issues.
The meeting was chaired by Satish Kumar, the Managing Director of Kolkata Metro Rail Corporation Limited.
The firms which have been doing business with Kolkata Metro Rail Corporation Limited were advised to take at their end for flawless transition to GST.
"Following a presentation on GST by KPMG, discussions on a number of issues such as works contract, requirement of revision of contract condition to accommodate change in cost, changes in law clauses and their impact on ongoing contracts, the effect of anti-profiteering clause in the GST law and other key aspects such as place of supply, time of supply, nature of supply were held. They have also discussed GST returns and compliances," Kolkata Metro Rail Corporation Limited official said.
It may be mentioned that the finance ministry took several steps for a smooth rollout of GST. The Central government intended to implement the GST from July 1.
Kolkata Metro Rail Corporation Limited is a Central Government enterprise implementing Kolkata's East-West Metro Corridor Project. Under this project, Metro rail will go under the river Hooghly
which would be first-of-its-kind in India.
Kolkata Metro Rail Corporation Limited is working on this project which will connect Salt Lake Sector-V in the East and Howrah Maidan in the West. There will be some elevated stations and underground stations as well. In the first phase, the Metro is likely to run from Sector-V to Phoolbagan.