February, Vol # 2 of For Private Circulation only. website :

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1 Vol # 2 of 2018 February, 2018 Chairman Secretary Editor CA. B. Venkata Rao CA. M. Chalapathy Rao CA. K. Ramachandra Rao visakhapatnam@icai.org For Private Circulation only website :

2 Chairman Writes... Dear Esteemed Colleagues, j dütù Ôwüß C > ]Ô ø±et+ ø±et+ ü s Tc ì]àe D: ˆ < e X óáø + <éáãvü à < yêetè ett# ˆˆ dæàhé Àø± Á ê düπs«<ät Hê ø X Y yó <é ˆ dæ@ yó {À, ø sƒ üìwü Y (2`8) Dear professional colleagues The month of January 2018 has been very eventful with a number of Seminars on variety of topics. During the month we hosted three full day seminars, I thank all the Resource Persons viz. CA. Durga Balaji, CA AAshish Agarwal, CA. Vytleya Srinivasa Rao, CA. K. Ramakoteswar Rao, CA. Ch. Eswara Mohana Rao, CA. Chinnasami Ganesan, CA. E. R. Somayajulu, CA V Chandra Sekhar CA D Prasanna Kumar for sparing valuable time in sharing their knowledge with Members. My sincere thanks to all the Speakers of GST Study circle meetings viz. CA. B. Vinay Kumar, CA. M. Chalapahy Rao, CA. S. Ravishnankar, CA. M. Muralidhar for their excellent deliberations on the subject. Diary for February 2018 is as published elsewhere in this newsletter CA Examination Results : CA Examination results of November, 2017 attempt has been declared. The results have been encouraging and I congratulate students for their excellent performance. Consequent to these Results Students have qualified as Chartered Accountants. Group I Group II Both Groups CPT % IPCC 13.92% 20.38% 26.72% FINAL 15.91% 15.11% 22.76% I welcome all the newly qualified Chartered Accountants to this Noble profession and Elite Club. I wish them a very bright future ahead. They are the future ambassadors of our profession. Those who have not been able to succeed in this attempt should not regret as life always gives a second chance. This is all about determination and passion, I am sure they can make wonders this time. I am fortunate to commence my tenure in February 2017 with the blessings of CA. C. V. S. Murthy and CA. U.Ramakrishna and my guru CA. Atchutaramaiah. These blessings along with the best wishes of all my professional friends gave me the strength to put my thoughts into successful actions for the benefit of members and students in CA profession. I thank our beloved president ICAI CA.NileshVikamsey, Vice President ICAI CA. N D Gupta and CA.Cotha S Srinivas, Chairman SIRC of ICAI for their support inorganizing the programs of the branch. I thank all the Central Council and Regional Council members of thesouthern Region for their support and guidance in times ofneed for smoothly organizing the programs and activities of thebranch. I thank from the bottom of my heart CA. P. V. S. P. Kumar, Past Chairman, without whose initiative, I would not have been inthe Managing Committee and become the Chairman of the Branch, in fact heguided me all through the my MC tenure from 2013 till date. My sincere thanks to CA. Lalitha Sundari and CA. NNS Prakasa Rao, for their continued support and guidance in times of need. My sincere thanks for CA. E. Phalguna Kumar, Past Chiarman SIRC and Ex Officio Member of the Branch for his guidance and support. I thank CA. D. Prasanna Kumar, Past Chairman, SIRC for his unstinted support any time and every time. My heartfelt gratitude to CA. V. ChandraSekhar, CA.M.V.Sharma, for their moral support and encouragement at all times. I thank various committees of ICAI for extending their support in organizing the Seminars in our branch. I thank all the resource persons for addressing our members on various topics of professional interest. I am happy to inform you that during my tenure 14 New Resources Persons of our branch were identified to address the members. I thank all the Past Chairmen of our branch for their support, guidance in times of need. I have structured the events in such a way that every Wednesday there will be a study circle meeting and on

3 Saturday there will be a full day or half day seminar. As part of my Action plan implementation, for the first time I have introduced a new slab in one time payment scheme with Rs.1000in order to encourage newly qualified members. I am happy to inform you that in this block we have received 26 registrations from new entrants of profession. Further I am pleased to inform you that for the period , we have received One Time Payment enrollments from385 Members which is highest in the history of branch till date. It gives me immense satisfaction that I could accomplish with the Action Plan for the Year with your unstinted support and guidance. I have planned for achievement of 300 CPE hours my tenure as chairman, ultimately it ended up with 432 CPE Hours which is highest activity in the history of Visakhapatnam Branch of ICAI till date. Dear Members, your words of appreciation and encouragement from time to time has been the source of inspiration and driving force for me in running the branch, keeping up with the pace set by my predecessors. I take this opportunity to provide you a snapshot of the activities conducted/ proposed at your Branch during the my tenure from 22nd Feb 2017 to 17th Feb 2018 Nature of Activity No of Programs CPE Hours Three Day Workshops 2 36 Two Day Conference 1 12 One Day Seminars Half Day Seminars Study Circle Meetings Web Casts Certificate Courses Total Nature of Activity No of Programs/batches CA Awareness Prog 3 Mock Tests 2 Crash Courses 1 GMCS& MCS 4 ORIENTATION 19 ITT 19 ADVANCED ITT 3 I feel privileged to mention about some of the Important Events conducted during the year: Spoorthi- Sub Regional Conference : Sub Regional Conference in the State of Andhra Pradesh - Spoorthi Lets Inspire, conducted on 14 & 15 July 2017, was a resounding success with the unstinted support of our members. The registrationscrossed 500 delegates. This shows the interest of our members to update in the area of our service to maintain the credibility of our esteemed profession. This Conference has been well coordinated by CA. D. Prasanna Kumar, Past Chairman of SIRC of ICAI. I am fortunate to associate with all the Past Chairmen of the branch during 'Spoorthi', the Sub Regional Conference of SIRC of ICAI. The Conference would not have been a success without the support and active participation of all the Past Chairmen of the Branch. Hosted a Full Day Seminar on Companies Act in association with ICSI. The Seminar was inaugurated by Sri N. Krishna Murty, Registrar of Companies for Andhra Pradesh and Telangana States Three Day Workshop on GST for Members The Three Day Seminar on GST on 19th,20th& 21st was a grand success. There were 275 delegates registered from across country. We had delegates from Luknow, Chennai, Sambalpur, Bhubaneswar, Jadgalpur, Hyderabad, Guntur, Vijayawada, Eluru, Nellore, Tirupati, Rajahmundry, Kakinada etc. The presentations by eminent speakers CA. V. Raghuraman, CA. Jatin Christopher, CA. A. Saiprasad, CA. S. Venkata Ramani, CA. Ganesh Prabhu and CA. V. S. Sudhir were very well received by the delegates. For the first time we have organised a seminar on CA Day with the topic Code of Conduct and Professional Ethics addressed by our beloved CA.J. Venkateswarlugaru. CERTIFICATE COURSE ON GST The Branch successfully organised Two Batches of Certificate Course on GST during the year. First Batch of Certificate Course on GST at Visakhapatnam held on 5th,6th,7th,8th,9th 12th,13th,14th,15th & 16th June 2017, with 95 Delegates at Hotel Daspalla. Second Batch of Certificate Course on GST at Visakhapatnam held on 3rd, 4th, 5th, 10th 11th, 12th, 18th,19th 25th & 26th November 2017, with 46 Delegates at Hotel Daspalla. Three Day Workshop on GST for CA Staff On 8th, 9th & 10th December, We have successfully organised a Three Day Training Programme on GST for CA Staff. The Program was well attended by 170 Delegates of which members participation consisting of 76 and we got excellent feedback from the delegates. After lot of correspondence and communications, successfully hosted Peer Reviewers Training Programme held on

4 My sincere thanks to all the resource persons for addressing the sessions despite their busy schedule. I thank all the delegates registered for the course. My Special thanks CA. M. Hiragange, Chairman Indirect Tax Committee and entire team of Indirect Tax Committee of ICAI for giving visakhaptnam branch opportunity to host two batches of certificate course on GST and two - Three Day Training Programs. During the year variegated programmes were organized in the areas of GST, Companies Act, Accounting and Auditing Standards, Income Computation and Disclosure Standards (ICDS), RERA, Peer Review, SFT, Taxation of NPO's, Insolvency and Bankruptcy Code, FRDI Bill 2017etc. I thank all the resource persons for addressing our members on various topics of professional interest. We have celebrated Women's day, Branch Formation Day, Yoga Day, CA Day, Independence Day, Teachers Day, Gandhi Jayanti (Swacch Bharat), Commerce Education Day, Republic Day in a befitting manner. Branch organized GST Sahayatha Desk from 24th June to 30th September to facilitate traders, small businessmen and public at large e- NEW FACILITY: We are happy to inform you that the Visakhapatnam Branch has launched a POS machine at Branch Premises for the benefit of the Students and Members. I request all the members to avail cashless payment facility towards seminar fee/purchase of publications/forms etc. My sincere thanks to CA. V. S. Prakasa Rao for coordinating with Andhra Bank and speeding up the process of installation of swiping machine at branch. Renovation of Seminar Hall During the year we have renovated the members seminar hall with repair works of replacement of carpet, audio system, painting etc. Professional Social Responsibility Activity On the eve of CA Day, we have distributed 225Literacy kits to students of Government School at Tunivalasa, Government School at Narasapuram of vizianagaram District, Mandal Parishad Primary School at Kothapalem, Chinagadili Mandal and Mandal Parishad Primary School Yellapuvani Palem, Chinagadili Mandal of Visakhapatnam District. I Thank CA. N. N. S. Prasakasa Rao for his contribution of stationery items in literacy kits and CA. M. V. Sarma towards coordinating the program. On the eve of CA Day, we have organised Blood Donation camp on two days On the eve of Republic Day, we are planning to distribute Artificial Limbs at Free of Cost to the needy deserved people. Through Press and FM Radio we have publicized the activity. As part of this activity we have organized measurement camp for the on 26th Jan 2018 and 28th Jan 2018 at branch premises. Around 40 beneficiaries' were turned up for the measurement camp. We are planning to fix the instruments to the beneficiaries' on 17th February 2017 at Branch Premises. We are taking technical and medical support from M/s Prema Hospitals Visakhapatnam for this activity. I thank all the members for their active participation withtheir voluntary contributions for this noble cause. I Thank all the members of the branch for their active support and participation in the Sub Regional Conference and all the other programs organized by the branch. I am deeply indebted toall my collogues of the Managing Committee for giving me the opportunity to serve and shape myself for the most coveted position, the Chairman of the Branch. My heartfelt thanks to CA. K. Ramachandra Rao for his guidance, motivation all through my tenure. My Special thanks to My Active Secretary CA. M. Chalapathy Rao and CA. G. Bharathi Devi, My Active Treasurer for their excellent cooperation in organizing various programmes and smoothly complying the time frames with HO and various committees of ICAI. My Secretary, CA. M. Chalapathy Rao took a lead role in complying GST not only for our branch, but across all branches of Andhra Pradesh as a coordinator for the State. My Treasurer CA. G. Bharathi Devi took active role in finalizing and submission of last Three years Final Accounts of SICASA. I thank CA.B. Sreerama Murty,Vice Chairman, CA. V. Rama Prasad, Chairman SICASA, CA. G. B. Gupta, member and CA D. Chandra Sekhara Reddy, Member of the Managing Committee for their unstinted support in organizing the events of the year. My sincere thanks to Branch Staff Ravi Shankar, Madhuri, Raj Kumar, Naidu, and Lakshmi for their excellent support and coordination in organizing various programs throughout the year. I also thank A Prasad of Maruthi Printers, Management of Tycoon Hotel, Sri JyotiSwaroop, Photographer, Silicon Media for their continued support. I shall remain ever in the service of our fraternity. With warm regards CA. B. VENKATA RAO Chairman

5 Seminar on Representation under Income Tax Practical Perspective Practical issues in filing of GST Returns on 6th Jan.2018 Study Circle Meeting - 1 : 2nd Batch Certificate Course Exam Preparation, Basics, Levy, Composition and Registration under GST on 10th Jan Study Circle Meeting - 2 :2nd Batch Certificate Course Exam Preparation, Time of Supply and Valuation of Supply under GST on 17th Jan. 2018

6 Seminar on Use of Technology and Automation to Transform Services Rendered by CA s, Preparation of Financial Statements Through Excel Techniques and RERA Act on 20th Jan Press meet towards Free Artificial Limbs distribution camp under PSR Activity Study Circle Meeting - 3 : 2nd Batch Certificate Course Exam Preparation, Reverse Charge and Works Contracts under GST on 24th Jan. 2018

7 Republic Day Celebrations on 26th Jan. 2018

8 MEMBERS DIARY Date & Day Venue & Time CPE Hours Name of the Programme & Speaker ICAI Bhawan 4 Hours Live Telecast of Finance Bill 2018 Thursday am to 1.00 pm ICAI Bhawan CPE Seminar Analysis of Finance Bill 2018 Saturday 9.30 am to 1.30 pm 3 Hours CA. K.C. Devadas, Hyderabad CA. Sangu Ramakrishna, Visakhapatnam ICAI Bhawan CPE Seminar Seminar on Direct Taxes Saturday 5.30 pm to 8.30 pm 3 Hours CA. T. Banusekhar, Chennai. TAX UPDATE Followed by Introduction of New Office Bearers for the year CA. Ambati Chinna Gangaiah, agcpower@icai.org, Cell : Gist of Judgments of Supreme Court Gist of Judgments of High Court

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10 Gist of Appeal Orders of Income Tax Appellate Tribunal

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16 ADC (Presently Appellate Joint Commissioner) Orders DC Orders presently Joint Commissioner of State Taxes Level II Commerce Wizard Examination conducted at branch on 28th Jan. 2018

17 Seminar on Companies Act and FRDI Bill 2017 on 27th Jan Study Circle Meeting - 4 : 2nd Batch Certificate Course Exam Preparation, ITC and Returns under GST on 31st Jan Published by CA. B. Venkata Rao, Chairman on behalf of Visakhapatnam Branch of SIRC of The Institute of Chartered Accountants of India, Visakhapatnam and Desgined at Maruthi Printers, D.No , Krishna Gardens, Dabagardens, Visakhapatnam - 20, Cell : , balajiavprasad@gmail.com and Published for Visakhapatnam Branch of SIRC of ICAI, D.No /2, Pithapuram Colony, Visakhapatnam , Ph : , visakhapatnam@icai.org Editor : CA. K. Ramachandra Rao Visakhapatnam Branch of SIRC of ICAI The Views expressed by contributors in this Newsletter do not necessarily reflect the opinion of the Branch or the Institute