Department of Commerce, DAV PG College organized an Industrial visit on 2nd March, 2023 for the final year students of B. Com (Hons.) to three prominent Industries, namely: PARLE – G, Bisleri and RAS Polytex Pvt Ltd. The basic objective behind conducting such type of academic visits is to let the students understand actual industrial application and how it facilitates the development of remote rural economy.
Other important information related to the Industrial Visit is as follows:
- Total participants (Students) : 56
- All participating students were from B. Com (Hons.) final year
- Total participants (faculty members) : 10
- Industrial Visit Coordinator : Dr. Anand Singh
- Head of the Department : Dr. V. N. Dubey
The Goods & Services Tax (GST) launched on 1st July, 2017 has more or less impacted every major and minor business sector in the Country. GST is comprehensive tax levy on production point to consumption point. It was hoped that implementation of Goods & services Tax (GST) will transform India’s Tax regime, making the system more transparent and put in order. Small and Medium Enterprises are the backbone / primary growth operators of our economy. In India, approximately three / four million small and medium enterprises have been operating business. GST is, as usual, applicable to almost every retail supply, affecting the cost for the end consumers. Also it is a leading employment generating sector. Further, it enhances the tax-payer base by bringing them under its ambit as earlier most of the retailers usually escape the tax liability due to the absence of any mechanism by which their actual purchase and sale can be monitored. Still, there is a debate going on against the practice of different slabs of indirect taxes on different goods and services under GST, in public, intellectual and political groups in India. In this respect, rare grass root level studies have made regarding pros and cons of the implementation of GST in India. The present study is an effort to find out the perception of small retailer’s of Varanasi about the impact of GST on their business. In the survey work the students of B. Com (Hons.) 3rd year of DAV PG College (Session 2022-23) have worked as ‘Investigators’ while the Faculty Members of Department of Commerce have supervised the entire work. The Research Scholars also assisted the Faculty Members in supervising the survey work. The survey work has been completed with the financial assistance provided by the College. During the survey, most of the respondents were of the view that implementation of GST has brings many benefits for the retailers like: lower taxes, provision of input tax credit, reduced complications as they can file the returns online, new promotional strategies, ideal for start-ups etc. After conducting this survey it can be concluded in the end that implication of GST by abolishing all other indirect taxes is a good initiative by the government, However, there are few grievances of the taxpayers which the GST council, as well as the Central Government, needs to immediately address. Only if the below points are taken into account with an iron hand can GST be the success it was promised to be on the mid-night of 1st July, 2017.
- Rationalisation with one or two tax slabs
- Simplified procedures for filing returns
- 100% FDI in single brand retail
In conclusion, we can say about the impact of GST on retail sector that GST has laid the path for a more organised and transparent retail sector. The loopholes are the technical glitches of GSTN Network and taxpayer’s non-compliance. The GST council can surely overcome these issues and ensure proper compliance by taking measures like educating people through social network websites as well as NGO’s. For a tax system like GST to work, government and people must be responsible and compliant. In this present era of globalisation there is a need for systematic tax system and GST will not only bring transparency but also would promote economic situation of the country. Earlier every state had its own tax rates which created a lot of confusion and complicated process and also there was increase in price of the goods. By replacing the old tax system with the new tax system will generate reduction in complexity and reduction in prices of goods. The implementation of GST in retail shops affects our everyday lives in different ways. The impact of GST on retail sector is going to be positive from taxation and operation point of view. During the implementation stage of GST, the retailers faced some complexities because they were not fully aware about GST. Sometimes consumers feel higher price for goods and services after the implementation of GST. But in certain circumstances, they will also get benefits from GST. They were relieved from earlier overall tax burden. It’s very difficult to say that whether the impact of GST is good or bad, but one thing is very clear that its implementation in retail shops helps our society work in more efficient and cost-effective manner. The fundamental of ‘ONE NATION, ONE TAX’ was created with an intention to easy tax filing, ease of doing business in other states, reduction in the prices of goods, relieving the burden of logistic overhead from small enterprises. On the contrary, it has increased the technology dependency of every enterprise, as every transaction is made online. It will take some time for the people to get used to the new taxation regime, only then will the nation start to see the fruits of ‘ONE NATION, ONE TAX’ – the GST. This is the best change which has brought a lot of change to the economy.
National Workshop on Statistical Techniques for Data Analysis Using Software Tools SPSS & R - 20 to 30 June 2022
The Department of Commerce and RPC, DAV PG College Varanasi organised IVth National Workshop on Statistical Techniques for Data Analysis Using Software Tools SPSS & R from June 20 to June 30, 2022. In total 54 participants attended the workshop belonging to different universities and colleges. Everyday four sessions were conducted.
The workshop began with lightening of Lamp and garlanding the idol of Maa Saraswati on June 20, 2022. The Chief Guest was Prof. Athar Ali Khan, Department of Statistics, AMU and the special guest of honour was Sri Ajit Singh Yadav, manager DAV P.G. College. The welcome address was given by Prof. Pradeep Kamal. Dr. Rahul gave the theme presentation and vote of thanks was given by Prof. Madhu Sisodia.
The workshop intends to provide the concept of popular statistical tools like descriptive measures, regression, and inferences, etc. It also aims to provide the introduction of two common softwares SPSS and R.
The final year students of B. Com (Hons.) & M. Com of Department of Commerce, DAV PG College visited PARAG Dairy Cooperative and Bisleri on 19th April, 2022. Dr. S. D. Singh, Principal is of the view that the students of Commerce must have Industrial Exposure / Practical Exposure besides their regular academic classes. Such visits will let our students know about the real situation of Industries in the present context. During the visit, students interacted with Mr. Sinha, M.D of PARAG cooperative and discussed the progress made by the cooperative after it was handed over to NDDB (National Dairy Development Board). Mr. Sinha was very hopeful that the Dairy would be in profits within a period of 3-4 years. He also appealed to the students to consume the products of PARAG to help the local farmers of Varanasi District as they are the real owners of this Cooperative.
The students also visited Bisleri Company Branch at Industrial Area, Ramnagar and learned about the procedure of packing Bisleri water bottles. Mr. Prabhakar Rai, owner of the Unit was very cooperative and encouraged the students to come in this field by stating that there is a tremendous scope in entrepreneurship. Dr. P. Kamal, Head, Department of Commerce lead the Industrial Visit. All the faculty members of the Department of Commerce with 48 students of B. Com (Hons.) And M. Com was present during the visit.
National Workshop on Statistical Techniques for Data Analysis using Software SPSS and R (From 16 to 31st January 2020)
In the inaugural ceremony of workshop Dr. Satya Dev Singh, (Principal, DAV PG College, Varanasi) welcomed all dignitaries, speakers, faculties, students and participants of the workshop.The keynote speaker Prof. R. Singh emphasized that data plays a very vital role and various new concepts such as data mining, data warehousing, etc. have been evolved. He further added that various software’s like SPSS and R are playing a dominant role in data analysis. Total Sixty students participated in this workshop.
Dr. V.S. Singh (Asso. Prof, Department of Economics, DAV P.G.College, Vns) and All the members of the Department of Commerce participated in the seminar.Keynote speaker Dr. V.S. Singh stated that the Government has assumed a nominal GDP growth rate of 10% in 2020-21. The nominal growth estimate for 2019-20 was 12%. He further added that the government proposes to spend Rs.30, 42, 230 crore in 2020-21 which is 12.7% higher than the revised estimate of 2019-20.
Two days National Webinar on Corona Calamity: Its Social and Economic Consequences in India was organised on 20-21 April 2020
Prof. Ashok Mittal (VC of Agra University), Prof. Pulin Nayak (Ex-Director of Delhi School of Economics) were the keynote speakers.Corona Virus has impacted the social and economic life of the world at large. In India, around 80% of the population live on daily wage system and for such people, the situation of lockdown is too problematic as such people are not able to earn livelihood. The speakers also said that the pandemic has adversely affected the tourism, real estate as well as transport sector. 280 students participated in the webinar.
Departmental Seminar on “New Education Policy and its Impact on Commerce Education” was organised on 13 August 2020. Dr. V.K.L Srivastava (Ex-Asso. Professor, Department of Commerce, DAV P.G. College, Varanasi) and all the members of Department of Commerce participated in the seminar.Summary of Lecture Delivered: Dr. Srivastava discussed on important points of New Education Policy and stated that the revised policy expands the age group of mandatory schooling from 6-14 years to 3-18 years. He further stated that The Higher Education Commission of India (HECI) will now set up a single overarching umbrella body for entire higher education, excluding medical and legal education. The session was coordinated by Dr. Taru Singh.
Orientation cum Induction Programme for the newly admitted M.Com students was organised on 14.12.2020. Keynote speaker Prof. H. K. Singh (Professor, Faculty of Commerce, BHU) Topic of lecture: Future of Business Education in India Summary of Lecture Delivered: Prof. Singh explained the concept of AERA i.e. Academic, Extension Activities, Research and Administration. He also added that P.G Students of Commerce are now eligible for doing Ph.D from IIMs. All the Faculty members of Department of Commerce along with 48 newly admitted M.Com students participated in the Orientation cum Induction programme.
The Department of Commerce, DAV PG College in collaboration with Apex Academy, Kochi & Board of Industry Academia Partnership, Mumbai organized an “Investor Awareness Program”. Mr. Manoj T. Nilkantan, Ex – AGM, IDBI Bank was the resource person. This program was sponsored by AXIS Mutual Fund and the following points were highlighted by the resource person during the program:
In this competitive era every individual should have an alternate source of income. For this purpose they can start investments in securities
Every person should save a small portion of their earnings and invest the same wisely
Investments in stock markets should be done after proper analysis of any security
SEBI has taken effective steps to:
Monitor the progress and development of stock markets, and
Protect the interest of the inventors
The young students will be the future investors of our country, so it is essential to make them aware through conducting such awareness programmes.
It is advisable to start making SIPs (Systematic Investment Plans) in smaller amounts in Mutual Funds.
The investments in Mutual Funds are quite safe investments as they are handled by group of experts who have the complete knowledge about the markets and securities traded in the markets.