Traders demand VAT remission extension

Pre-budget discussions


Jammu, Jan 20: Minister for Finance & Ladakh Affairs, A R Rather Sunday said that all the possibilities and opportunities will be pooled to make the budget proposals for ensuing financial year representative to the needs and aspirations of the people.
 Speaking to the members and representatives of PHDCC, Institute of Public Opinion, Industrial Associations of IGC Samba, Bari Brahmana, Kathua Gangyal and various Transport Associations of Jammu on the second consecutive day of pre-budget discussions, Rather, according to an official statement, said that while it was endeavor of the Government to make the budget proposals pro-people and business friendly, the trade and Industry too has an obligation to cooperate with the tax enforcing agencies at various levels.
 “Revenue mobilization is pivotal for development and progress of a resource starved State like J&K and it should be the joint responsibility of all the stakeholders including trade, industry and the Government in itself to make no compromise in this regard.”
 The Minister said, with a view to mitigate hardships of the business community on account of traffic jams and wastage of time in tax clearance at Lakhanpur, the Government has recently commissioned one of the best in the country, fully computerized New Toll Plaza at Lakhanpur hoping that it will prove a turnaround in the promotion of trade and industrial growth in the State.
 “But the traders shall have to abide by the rules and regulations to ensure zero percent tax evasions and law violations,” he said, adding that it was disheartening to note that 24000 suspected violations have been reported at the Toll Post in last fiscal against only 2% seizures, though Government follows the policy of “no seizures” at all.
 He said only random 4-5 vehicles are presently detained for physical checks at the Toll Plaza, Lakhanpur, adding that the Government endeavors to further minimize such checks for convenience of the business and transporters fraternity.
 The delegations presented their memoranda of demands and raised various issues which mainly included VAT remission extension, annual assessment of raw material/finished goods for toll tax exemption, 3% interest subsidy to industrial units set up prior to 2002 also, reduction in electricity duty, amnesty scheme by PDD, creation of new industrial estates and marketing support to local SSI Units.

Lastupdate on : Sun, 20 Jan 2013 21:30:00 Makkah time
Lastupdate on : Sun, 20 Jan 2013 18:30:00 GMT
Lastupdate on : Mon, 21 Jan 2013 00:00:00 IST

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