IIM Rohtak hosts Management Summit 3.0: GST discussed as Innovative Tax Reform

Indian Institute of Management, RohtakIndian Institute of Management, Rohtak (IIM ROHTAK), the first IIM in North India and the only IIM in Delhi-NCR region, hosted its first MUMBAI management conclave on 11th Nov 2017. The purpose of the management summit 3.0 was to augment interface between academe and industry for the transformation of the business environment in India. Several industry stalwarts and top academics from IIMs participated in the summit.

 

The key discussion at the event was around innovation and how it can help transform the business environment specifically and nation in general. The event registered the presence of more than fifteen industry stalwarts and IIM faculty discussed how innovations can be fostered and commercialised successfully. Among the key invitees who spoke at the event were Sonali Dhawan, Marketing Director P&G, Prabhat Agarwal, CEO Alkem labs, Pia Shome, Vice President RBL bank, Pia Shome, VP, RBL Bank, Bal Mukand Singh, AVP-HR, HDFC Ergo, Rajesh Dubey, President, Alkem Labs among others.

 

Goods and Services Tax (GST) was also discussed by academics and industry stalwarts and how it may help transform consumption behavior, business environment, and investment in India.

 

Prof Dheeraj Sharma, Director, IIM-Rohtak said that “GST is an innovation. It is innovation in tax collection and governance.” He also added that new changes in GST are likely to further stimulate consumer demand by cutting inflation, improve investment environment in India, and encourage better tax compliance among traders and small businesses.

 

Sonali Dhawan, Marketing Director P&G, said, “GST is likely to spur consumption and will make products affordable”. She also said that innovation failure is a people related issue and not a product related issue.

 

Prabhat Agarwal, CEO Alkem labs, said, “GST presents an opportunity for pharma sector to leverage”. He also talked about inefficiencies in the supply chain that will be reduced as a result of GST implementation.

 

Rajesh Dubey, President, Alkem Labs, added that while on surface there is an increase in GST on pharma 12% but actually there may be reduced tax burden if other efficiencies in the supply chain are realized properly by good organizational practices.

 

Mr. Tridipta from Thompson Reuters said that new GST changes will bring positivity in the business environment. Mr. Sunil Bhagwat from Huhtamaki added that GST will increase food consumption that will probably lead to increased business in the packaging industry.

 

Immediate usefulness of GST and implementation challenges were also discussed at the summit. The summit attendees also debated whether the recent revisions to GST were implementation failure or requirements for smooth transition to GST. Overall, the interaction between academe and industry suggested that GST is a positive reform but may require a sustained effort from the government in terms of communication of the GST related matters and also in terms of IT support for better compliance.

 

In summary, industry stalwarts and academicians concurred that GST is going through initial teething problems, which seem to be over. It is expected that the last quarter of the years will be marked with sharp growth.

 

Overall, the summit was a major step toward developing a better understanding of the role of innovation in business transformation, particularly with a focus on GST. Prof Dheeraj Sharma, Director, IIM-Rohtak, said that IIM-Rohtak students and faculty are likely to come up with a white paper on GST’s influence on business environment soon.

 

Nearly fifty students and five faculty members from IIM-Rohtak were involved in the organisation of this event that aims to crystalize how innovation in products, services, and governance can act as a catalyst in transforming the economy.

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Indian Institute of Management, Rohtak

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Deepshikha Mehta 2 months ago

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Deepshikha MehtaLast Seen: 2 months 1 week agoJoined on: 13-May-2018Education Interest: ManagementEducation Level: In Graduation

What is the criteria for taking admission in this college...and what about fees, placement and package

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Azim Shaikh 2 months ago

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Azim ShaikhLast Seen: 1 month 3 weeks agoJoined on: 01-Aug-2017Education Interest: EngineeringEducation Level: Graduate & Above
Clear the CAT entrance Exam with more than 85% . Registration for CAT already Started in April 2018. If u want to Prepare for IIM (Rohtak). U need to score More than 90% in Entrance Exam. Thanks&nbs...Read More

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Rajender Kumar 6 months ago

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Rajender KumarLast Seen: 3 months 4 weeks agoJoined on: 10-Jan-2018Education Interest: ManagementEducation Level: In Graduation

My son is shortlisted by IIM Rohtak for GD and PI. What is next step ? We have to apply again or not for GD and PI?

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Akshay Kadam Expert 6 months ago

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Akshay KadamLast Seen: 6 days 18 hours agoJoined on: 03-Sep-2017Education Interest: ManagementEducation Level: Graduate & Above
If you have received the mail that your son has been shortlisted for GD & PI then you don't need to apply again for anything. The only thing you need to do is follow the steps mentioned in the mai...Read More
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Amit kumar 6 months ago

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Amit KumarLast Seen: 3 months 4 weeks agoJoined on: 25-Jan-2018Education Interest: ManagementEducation Level: Graduate & Above

My cat per'le=80 ,obc ,Xth=79.9%,XIIth=63.2%,Btech=64.5%,Male,Fresher.Got call from IIM Ranchi,rohtak,kashi,udai, Should I go for WAT & PI ?

Or would it be total waste of time ? Because of low CAT and academics would i get anything?? I am currently doing mtech in NIT WARANGAL, So no experience.

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Suraj Mallick 14 days ago

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Suraj MallickLast Seen: 6 days 6 hours agoJoined on: 22-May-2018Education Interest: ManagementEducation Level: Graduate & Above
Don't judge yourself before you appear in any of WAT & PI. You need to know one thing that in every IIM a new merit list is made after the second round of WAT & PI which includes marks of WAT ...Read More

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Abhishek 6 months ago

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AbhishekLast Seen: 3 weeks 3 days agoJoined on: 08-Jan-2018Education Interest: ManagementEducation Level: Graduate & Above

Hi, I have got a call from IIM rohtak. Could someone please tell me whether I have to fill a form like I had to do for IIM-K?

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Rishi 6 months ago

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How much you score in CAT?
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Rajender Kumar 6 months ago

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Rajender KumarLast Seen: 3 months 4 weeks agoJoined on: 10-Jan-2018Education Interest: ManagementEducation Level: In Graduation

My son got 98.27 percentile in CAT 2017 but 60 % in X 70% in Xll . Is he eligible for IIM Rohtak

Appearing for B.com final in may 18 expecting 63% in B.com.

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Gaurav Shukla 6 months ago

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Hello, Your son got the dreamt percentile in cat. Kudos to you and your son hard work. Now come to your question. Well your chances are bright but cant assure the sure shot admission as getting into i...Read More

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