The Association was formed in a meeting held on 30th November’ 2003 at the college premises. It was considered as the 1st Annual General Meeting of Gauhati Commerce College Alumni Association. In the meeting, the Association was thereafter referred to as ALCOM as the abbreviated form of the Alumni Association and the General Council was also constituted with 56 members.
On 7th December’ 2003, the Council Meeting was held where the office bearers were also selected and a Constitution Committee was also formed under the presidentship of Dr. Shyam Sundar Harlalka, Dr. Rati Kanta Pathak as General Secretary and Prof. Ram Niwas Choudhury as its Treasurer. After several discussions and meetings, finally the Constitution of ALCOM was drafted and adopted in the General Council Meeting held on 19th September’ 2004.
The following Aims & Objectives were adopted-

• To promote fellow feeling, solidarity, fraternity amongst all the ex-students of the college hereinafter referred as Alumni.
• To provide a platform to all the alumni of the college to come closer, to develop interaction, acquaintances, familiarity and share their past memories.
• To generate interest among the members of the Association to contribute for the all-round development of the college and welfare of students, teachers and staff.
• To mobilize resources in cash, or in kind and/or to undertake or to secure or organise sponsorship to meet any need of the college to develop infrastructure or to promote and/or to support the cause of academic improvement of the students.
• To organise motivational activities like rewarding meritorious students in all fields, to sponsor scholarship for the poor, needy & meritorious students, to organise career counselling and/or seminars, quiz competition etc. to uplift the intellectual level of the students or to undertake any welfare projects for the students of the college.
• To arrange the placement of the deserving students in the various establishments, to arrange/ sponsor training for the deserving students.
• To put forward suggestions to the appropriate authority in the matter of framing syllabus, vocational education and allied fields.
• To run the Association on no profit and no loss basis and for common benefit of the members, college & students.
• To undertake scheme of any infrastructural development facilities of the college.
• To perform public welfare activities in general and specially during natural calamities.
• To promote teaching in the commerce education and to interact with the like-minded institution in this field.