Tag: GCCI

Business

GCCI Hosts Joint Professional Programme on LLP Compliances, Startup Funding and Growth as Part of Startup Week 2026

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Written by Intern Rency Gomes || Team Allycaral 


Panaji, 16 January 2026: The Goa Chamber of Commerce & Industry (GCCI), in collaboration with the Goa Chapter of the Institute of Company Secretaries of India (ICSI), successfully organised a Joint Professional Programme at GCCI, Panaji, as part of Startup Week 2026. The programme revolved around the themes “Igniting Growth: Startup Funding, Investment & Compliance” and “LLP & its Compliances” and received an encouraging response from entrepreneurs, professionals, startups, MSMEs, and students.



Welcoming the participants, Ms. Pratima Dhond, President, GCCI, underlined the importance of awareness, compliance, governance, and continuous learning for sustainable business growth, particularly within the startup and MSME ecosystem. She highlighted GCCI’s role in supporting businesses through advocacy, capacity building, and professional collaboration.

CS Darshan Karekar, Chairman, ICSI Goa Chapter, stated that startups play a vital role in employment generation and national economic growth. He noted that the objective of the programme was to create awareness about regulatory compliances applicable to startups and business entities.

CA Rohan Bhandare, Hon. Secretary, GCCI, and Chairman, GCCI Taxation & Financial Services Committee, expressed satisfaction at the joint initiative being held on the occasion of National Startup Day. He emphasised that the programme reflected the shared vision of GCCI and ICSI in promoting innovation and entrepreneurship, and stressed the importance of continued collaboration on knowledge-driven initiatives for strengthening the business and professional community.

The Chief Guest, Ms. Trupti Sharma, ROC-cum-Official Liquidator for Goa, Daman & Diu, advised participants to actively engage with authorities and raise genuine grievances instead of facing compliance challenges in silence. She noted that the Ministry of Corporate Affairs (MCA) remains receptive to valid concerns raised by stakeholders.

Elaborating on the relevance of Limited Liability Partnerships (LLPs), Ms. Sharma explained that the LLP concept was introduced in 2008 and that LLPs now account for nearly one-fourth of the total number of registered companies. She observed that registrations remain relatively low mainly due to lack of awareness. Highlighting LLPs as a preferred structure for family-run businesses, she pointed out that LLPs involve fewer compliances compared to companies, with the LLP agreement being the “soul” of the entity, and also offer easier and faster exit options.

Using an analogy, Ms. Sharma remarked that if MCA is the heart of compliances, professional bodies like ICSI and ICAI act as the arteries, while GCCI functions as the lungs, providing the oxygen necessary for the system to function efficiently.

Guest Speaker CS Vinayak Khanvalkar, Former President of the Institute of Company Secretaries of India, delivered an insightful session covering startup funding, investment avenues, and compliance-related aspects in line with the programme agenda.

The programme concluded with an interactive session, allowing participants to seek clarifications and directly engage with the experts. The joint initiative was widely appreciated for its practical insights and relevance to the evolving needs of startups and businesses in Goa.

The event was compered by Ms. Rakhi Malkarnekar, while the vote of thanks was delivered by Ms. Shantal Naik. The programme was coordinated by Mr. Sanjay Amonkar, Director General, GCCI, and Mr. Kiran Ballikar, Director, GCCI.

Social

GCCI Announces ‘Kashinath Damodar Naik – Pride of Goa Awards 2025’

Tanisha Cardozo

Written by Tanisha Cardozo || Team Allycaral

The Goa Chamber of Commerce & Industry (GCCI), in association with the Kashinath Damodar Naik Memorial Trust, has announced the recipients of the prestigious ‘Kashinath Damodar Naik – Pride of Goa Awards 2025’. The awards continue a joint initiative aimed at recognising distinguished Goans whose dedication, leadership and excellence have significantly contributed to business, industry and society in Goa and beyond.

For 2025, the Kashinath Damodar Naik – Pride of Goa – Lifetime Achievement Award will be conferred upon Ms. Anju Timblo, Managing Director and CEO of Fomento Resorts and Hotels Pvt. Ltd., in recognition of her outstanding leadership and transformative contribution to Goa’s hospitality sector. A distinguished academic, Ms. Timblo topped India in the Higher Secondary Arts Examination, secured first rank in Economics at Lady Shri Ram College, and graduated in Law from Government Law College, Bombay, earning two Gold Medals. She began her professional journey as a law lecturer in Goa before moving into leadership roles in social and community initiatives, including serving as President of the All India Women’s Conference, Goa Branch.

Since 1993, Ms. Timblo has led Fomento Resorts and Hotels Pvt. Ltd. as Managing Director and CEO, spearheading the iconic Taj Cidade de Goa – Heritage and the Taj Cidade de Goa – Horizon, together forming Goa’s largest luxury hospitality complex with over 500 rooms. Under her leadership, Araqila, a luxury resort in Sindhudurg, Maharashtra, was recently commissioned, pioneering tourism development in the region. Deeply committed to education and cultural preservation, she is also the founder and president of the Fomento Education and Charitable Societies, which include the Goa College of Hospitality & Culinary Education and Dona Leonor Memorial High School.

The Kashinath Damodar Naik – Pride of Goa – Entrepreneur Award for 2025 will be presented to Mr. Sachin Lawande, President and CEO of Visteon Corporation, Michigan. A native of Taleigao, Mr. Lawande is being honoured for his exemplary achievements as a global business leader and for bringing international recognition to Goa through his pioneering work in automotive technology. Since assuming leadership of Visteon in 2015, he has guided the Fortune 500 company to the forefront of cockpit electronics and automotive digitisation, driving innovation in hybrid and electric vehicle technologies while securing record levels of global business.

An alumnus of Auxilium Convent, Caranzalem, Mr. Lawande rose from a middle-class Goan upbringing to global corporate leadership. He holds a Bachelor’s degree in Electronics and Telecommunications from Bombay University and a Master’s degree in Electrical Engineering from Southern Illinois University, Edwardsville. With over two decades of experience in embedded systems and software, he holds four communications software patents and also serves on the Board of Cognex Corporation.

The Kashinath Damodar Naik Memorial Trust was established to honour the legacy of the late Kashinath Damodar Naik, a respected Margao-based businessman, historian and philanthropist. Through these awards, the Trust and GCCI aim to highlight achievers who have built successful enterprises, contributed to economic development and brought pride to the State of Goa.

The formal award ceremony will be held on Saturday, December 27, 2025, at 5.00 pm at Gomant Vidya Niketan, Margao, and is open to the public.

Sports

Verna Industries Association Clinches GCCI Alliance Cup Cricket Title in Thrilling Final

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Written by Allycaral Sports Desk

The Verna Industries Association (VIA) emerged victorious in the Third GCCI Alliance Cup Cricket Tournament, defeating the Goa Chamber of Commerce & Industry (GCCI) by 30 runs in a gripping final held at the Panaji Gymkhana grounds.

Organised by the Goa Chamber of Commerce & Industry, the tournament aimed to foster camaraderie, teamwork, and sportsmanship among leading industrial and professional associations in Goa. The day-long event attracted a large gathering of business leaders, professionals, and sports enthusiasts.

The tournament was formally inaugurated by GCCI President Ms. Pratima Dhond, setting the tone for a spirited competition. Six teams participated in the event, including the Travel & Tourism Association of Goa (TTAG), Verna Industries Association (VIA), Goa State Industries Association (GSIA), Goa Chamber of Commerce & Industry (GCCI), Confederation of Real Estate Developers’ Associations of India (CREDAI), and a Bankers’ Team comprising officials from RBI, SBI, Union Bank, NABARD, Bank of India, and other banks.

After a series of competitive matches, VIA showcased exceptional teamwork and determination to secure the championship title. GCCI put up a strong fight in the final but fell short by 30 runs in an engaging contest that kept spectators on edge.

During the prize distribution ceremony, Ms. Pratima Dhond, along with Mr. Manguirish Pai Raiker and Mr. Sandeep Bhandare, felicitated the winners and outstanding performers. Mr. Viraj Ekwade was named Man of the Series, while individual honours went to Mr. Sanjay Bhandari (Best Batsman), Mr. Mohammed Shami (Best Bowler), and Mr. Naresh (Best Fielder).

Heads of various associations and banking institutions praised GCCI for its initiative in strengthening bonds within the business community through sports. The tournament stood as a testament to unity, healthy competition, and the positive spirit of collaboration.

The event was efficiently coordinated by Mr. Sanjay Amonkar, Director General, GCCI, along with Ms. Ambika Dhakenkar, Ms. Chetan Naik, and Mr. Sanket Kaskar, ensuring its grand success.

Finance

GCCI Submits Pre-Budget Memorandum for Union Budget 2026-27

Tanisha Cardozo

Written by Tanisha Cardozo || Team Allycaral

The Goa Chamber of Commerce & Industry has submitted its comprehensive Pre-Budget Memorandum for the Union Budget 2026–27, putting forward a wide range of recommendations to strengthen India’s tax and regulatory landscape. The Chamber emphasises that a simpler, more predictable and business-friendly system is essential for improving ease of doing business and sustaining long-term economic growth. The memorandum highlights the increasing complexity of TDS and TCS provisions, noting that over fifty withholding categories with varying thresholds and rates have created a heavy compliance burden for businesses and individuals. GCCI suggests consolidation of these provisions into fewer, standardised categories, coupled with a PAN-based reporting model, higher thresholds and lower deduction rates. It also proposes the introduction of a digital Tax Wallet to make payments and adjustments easier, much like the existing GST cash ledger.

The Chamber also stresses the need to incentivise compliant taxpayers. By prioritising faster processing of returns and refunds for those with strong compliance histories, and by reducing automated notices for such taxpayers, the government can reinforce a culture of voluntary compliance. GCCI also calls for renewed support for innovation, including reinstating the 200% weighted deduction for in-house R&D, especially vital for pharmaceutical, biotech and deep-tech industries where risk and gestation periods are high. To further boost investment and employment, particularly in Goa, GCCI urges the continuation of the 15% concessional corporate tax rate for new manufacturing units, extending eligibility until 2030.

Recognising the need for simpler tax return processes, GCCI recommends a fully integrated filing portal, dynamic ITR forms that activate relevant sections based on taxpayer inputs, extensive pre-filling using AIS/TIS data, and reduced duplication of information already submitted to agencies like GST or MCA. It also suggests creating dedicated annexures for special cases, including returns involving Goan residents governed by Section 10 (formerly Section 5A) under the Portuguese Civil Code, foreign asset disclosures, and corporate restructurings. The Chamber proposes that individual taxpayers should only fall under the 30% tax bracket beyond an annual income of ₹25 lakh and advocates for rationalising cesses and surcharges to create a clean, transparent rate structure. It also recommends extending Section 80TTA to include all types of deposit interest and raising the limit to ₹25,000, as well as allowing deductions for donations even under the new tax regime.

MSME reforms form a significant part of the memorandum, including the introduction of a Company Law and LLP Settlement Scheme for 2025, flexibility in presumptive taxation, presumptive options for LLPs, tax neutrality for LLP reorganisations and more practical deadlines for filing returns. GCCI stresses that the current ITR due dates for non-audit cases create challenges due to late population of TDS and SFT data, and therefore recommends fixing 31 August as the final deadline. It also calls for allowing carry-forward of losses even in belated or updated returns, reducing additional tax on updated returns and extending the filing window to all permissible reassessment years.

Addressing litigative issues, GCCI highlights problems such as delays in refund issuance for AY 2025–26, lack of clarity around CSR deductions and inconsistent treatment of employees’ PF/ESIC contributions. It appeals for statutory timelines for CIT(A) decisions, clearer internal SOPs for refund scrutiny, parity in interest computation on refunds and payments, and amendments to ensure interest on delayed TDS deposits is calculated only for the actual period of delay. For co-operative societies, GCCI urges CBDT to issue a circular clarifying that interest earned on deposits with co-operative banks qualifies for deduction under Section 80P(2)(d), helping resolve long-standing disputes and preventing unnecessary litigation.

Through these recommendations, GCCI aims to strengthen investor confidence, reduce administrative friction, support innovation, and boost economic activity across sectors, especially MSMEs, manufacturing and high-value industries. The memorandum reflects the Chamber’s vision for a more transparent, efficient and growth-oriented policy environment as India prepares for the Union Budget 2026–27.

Events in Goa

GCCI Hosts Knowledge Session on “Compliance 2.0: From GSTR-9 & 9C to AI-Driven GST Compliance”

Tanisha Cardozo

Written by Tanisha Cardozo || Team Allycaral

The Goa Chamber of Commerce and Industry (GCCI) organised a focused and insightful half-day knowledge session titled “Compliance 2.0: From Navigating GSTR-9 & 9C to Unlocking AI-Driven GST Compliance” on December 2, 2025, at the Surendrababu Timblo Convention Hall, Narayan Rajaram Bandekar Bhavan, Panaji. The programme drew enthusiastic participation from industry representatives, tax professionals, accountants, and business owners across the state.

The event was graced by Mr. Bipin Kumar Upadhyay, Commissioner, Central GST, as the Chief Guest, and featured keynote technical sessions by Bengaluru-based Chartered Accountant CA Venugopal Gella, a specialist in GST law, policy updates, and technology-led compliance frameworks. The session commenced with a warm Welcome Address by Mrs. Pratima Dhond, President of GCCI, who highlighted the growing importance of technology-driven compliance as GST systems become increasingly data-intensive and integrated. She reiterated GCCI’s ongoing efforts to bridge the gap between industry and tax administration through capacity-building initiatives.

CA Rohan Bhandare, Chairman of GCCI’s Taxation & Financial Services Committee, in his Opening Remarks, emphasized the importance of embracing technology and AI to streamline and automate compliance processes. He also addressed the recent changes in GST Annual Returns, underscoring the critical need for accurate disclosures to maintain compliance.

Mr. Bipin Kumar Upadhyay, in his address, reaffirmed the department’s commitment to fostering taxpayer-friendly administration. He encouraged businesses to leverage accurate data and automation tools to minimize errors and disputes and commended GCCI for its consistent efforts in helping taxpayers navigate policy changes.

CA Venugopal Gella conducted two technical sessions. The first session covered recent amendments and key considerations for filing GSTR-9 and GSTR-9C, understanding the upgraded Invoice Management System (IMS), and managing reconciliation challenges and backend validations. The second session focused on leveraging Artificial Intelligence and emerging technologies to enhance GST compliance efficiency, highlighting practical implications for daily business operations, including error reduction, anomaly detection, and real-time compliance management.

Participants actively engaged in discussions, appreciating the practical insights, clarity, and real-world examples shared during the sessions. The programme concluded with a Vote of Thanks by CA Vijay Pikale, who acknowledged the contributions of GCCI, the speakers, and attendees. The event was moderated by CA Yatish Pai Vernekar, Co-Chair of the Taxation & Financial Services Committee, and coordinated by Mr. Kiran Ballikar, Director of GCCI.

GCCI continues its commitment to supporting Goa’s business community by organising timely knowledge sessions, policy dialogues, and technology-driven compliance awareness initiatives, ensuring that local businesses are well-equipped to adapt to evolving regulatory landscapes.