MYSORE: Commissioner of Central Excise, Customs and Service Tax, Mysore, P.M. Saleem has called upon entrepreneurs to update their knowledge of the latest changes in taxation laws .
He was delivering the inaugural address at a workshop on "Indirect Taxation and Foreign Trade Policy" organised by the Mysore Chamber of Commerce and Industry (MCCI) on Saturday.
Although the basic principles had not changed, the procedures and rules of taxation had undergone a sea change in the last ten to twenty years. Hence entrepreneurs should update their knowledge of latest taxation procedures and rules, he said.
An informed entrepreneur would be equipped to tackle taxation issues. It would help avoid unnecessary litigation, Mr. Saleem said.
"There have been radical changes in India with the boom in the Information Technology, Business Process Outsourcing and manufacturing sectors in the last 10 to 20 years," he said.