BMPA organises impact session on laws and regulations

By 05 Apr 2019

The Bombay Master Printers’ Association (BMPA) organised a session on 4 April 2019 at Sunville Banquets in Worli, Mumbai, in its constant endeavour to keep the industry updated about taxes, laws and regulations. The event was powered by Kotak Mahindra Bank and Toyo Ink. BMPA had held its last impact session on GST in 2017.

At the event, Pathik Shah of BP Shah spoke about the recent amendments on GST, such as the verification for the grant of new registration, the 6% scheme of the supplier of a service, and clarifications on sales promotion, amongst others. In addition, he also spoke about the merits of having different GST numbers for different manufacturing units.

Shah also spoke about Input Tax Credit (ITC)-related changes, such as the threshold limit for the composition scheme has been increased to Rs-1.5 crore from Rs-7 lakh, along with the updates regarding the changes in due dates, ITC credit availability, SGST, CGST and IGST.

He also highlighted the merits of the new Maharashtra VAT (MVAT) Amnesty scheme.

BMPA’s newest inclusion to its advisory panel, Hiral Chheda of Chheda Management Consultants, spoke about the latest amendments on labour laws and its impact on the industry, which shed light on the topics, such as Provident Funded (PF) allowances, Employees' State Insurance (ESI) age limit, and maternity benefits, amongst others.

Chheda provided insights about the supreme courts’ judgement on PF and guided about the dos and don’ts of the PF. He strongly advised avoiding remitting PF monthly contribution.

Sridhar of Online System highlighted the benefits for the active voltage conditioner for printing units. In addition, he also shed lights on servo voltage stabiliser, isolation transformer, Ferro transformer, and most importantly the key role of a UPS system. He also provided guidance about the importance of earthing system and its implementation.

The Toyo Ink team spoke about the Food Safety and Standards (Packaging) Regulations, 2018, and the Food Safety and Standards (Labelling and Display) Regulations, 2018.

Ram Kumar of Toy Ink said, “Printing, Inks, Stationary and Allied Products FSSAI amendments coming into effect from July 2019 prescribe that printing ink for use on food packages shall conform to IS 15495."

Iqbal Kherodawala of Printline Reproductions concluded the event with the vote of thanks. BMPA member Sanjay Patel of Param Packaging was the host for the event.

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