Despite the busy month of October, the Branch was able to squeeze a study circle meeting on October 12, 2002. Mr. Pulluk Raj Mullick, FCA gave a very interesting talk on Value Added Tax. The speaker discussed in great details ·The implication of the new system of levying sales tax to be introduced in the country by next year ·The proposed VAT law to be introduced in Uttaranchal ·New avenues for the members with the introduction of Tax Audit under VAT for the entities having a turnover of more than Rs.25 lacs. ·Questions/pitfalls which remains after the introduction of the new law The meeting was very interactive with members and students raising a number of queries.