The month of July marks the observance of two significant days: GST Day on July 1st and Global Energy Independence Day on July 10th. Introduced in 2017, the Goods and Services Tax (GST) has seen significant advancements, unifying the country’s indirect tax system under a single framework. It has revolutionized
business operations in India and brought us nearer to the idea of “One Nation, One Tax.” GST Daprovides an opportunity to reflect on the progress made thus far–acknowledging the milestones achieved, understanding the ongoing challenges, and reaffirming our commitment to continued improvement. On this day, the Institute is commencing an online ‘Capacity Building Series on Goods and Services Tax (GST), including litigation’, aimed at equipping professionals with enhanced knowledge and practical insights.  

To express its support towards the United Nations Sustainable Development Goals, the Institute has announced its 1st National Sustainability Conference 2025 on the theme, ‘Fostering Sustainability towards a Resilient Future’, scheduled to be held on July 26-27, 2025 in Udaipur, Rajasthan. I invite members to register for this event and wholeheartedly participate in the discussions with the experts. 

Company Secretaries possess the necessary skillsets as audit practitioners and can represent clients before GST authorities as authorized representatives. This has created numerous opportunities for Company Secretaries in both GST and audit fields. In alignment with the above thought, this month’s issue of the Journal is dedicated to the theme on ‘GST & Opportunities Under Audit’.

The articles titled ‘Good and Simple Tax: Challenges, Hiccups and Solutions’ throw light on the milestones of developments in GST over the past eight years. The critical aspects of GST Audit are elaborated in the two articles on ‘GST Audit: Means to Compliance and Governance’. The articles titled, ‘Are Financial Shenanigans becoming the triggers for implementation of Forensic Audit?’, ‘ESG Audit: Placing Sustainability at the Centre of Corporate Governance’, ‘AI in Audit: Disruption, Detection, and Due Diligence in the Age of Algorithms’, ‘ESG Audit: Concepts, Global Perspectives and Emerging Trends’, ‘ESG Audit: Placing Sustainability at the Centre’, ‘The Algorithmic Witness: Company Secretary as Architect of the AI-Powered Audit’, ‘Forensic Audit and Ethical Governance: A Game Changing Synergy’, ‘Concurrent Audit in Public Financial Management: Objectives, Scope, and Governance Framework’, ‘Internal and External Audit: The dual pillars Fortifying Corporate Governance in a Dynamic Era’, and ‘An Analysis of Concurrent Audit in India’, elaborate on the various audit areas and applications of Artificial Intelligence in the audit process. 

The Journal also features interesting articles on topics such as ‘Need for Strengthening the IT Governance Framework in Banking Sector for achieving Digital Operational Resilience’, ‘Taxation Laws and Practicing Company Secretaries: Embracing Evolving Roles and Expanding Opportunities’ and ‘Evolving Role of Company Secretaries in Ensuring Regulatory Compliance under SEBI LODR Regulations’.

The article in Global Connect Section on ‘World Environment Day: A Global Commitment to Restoring Our Earth’ is a powerful reminder of our commitment to protect and restore the environment and the global initiatives in this direction

The Research Paper on ‘India’s Economic Resilience Amid Global Uncertainties: Navigating the Transition from Classical to Strategic Globalization (2024–2026)’ analyses the secondary data from the RBI and the IMF, offering insights for policymakers navigating the new global economic order

Happy Reading!

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