Financial Daily from THE HINDU group of publications
Monday, Jul 15, 2002
Industry & Economy
TN Traders plan protest against resale tax
CHENNAI, July 14
THE Joint Action Committee of Tamil Nadu Trade and Industrial Associations has decided to go on a one-day fast and agitation to protest the levy of resale tax and a host of tax-related issues.
The date for agitation will be decided on July 17 after a joint meeting with the Federation of Tamil Nadu Traders Association.
According to a Joint Action Committee release, the unanimous decision to protest the State Government's move follows implementation of resale tax with effect from July 1.
The Government's decision was unwarranted and would affect the trade, according to the committee. Traders have also objected to the levy of sales tax on essential items such as rice, wheat and pulses.
These were among the resolution passed by the traders at a conference of the committee and representatives of trade and industrial association held at Salem on July 10.
It urged the Government to do away with a host of levies that were brought into force recently.
These include the five per cent resale tax on second and subsequent sales of cement and the five per cent infrastructure surcharge, and demanded that "all the controversial new levies" be kept in abeyance pending the recommendations of the Tax Reforms and Revenue Augmentation Commission.
Traders sought the restoration of the annual turnover exemption limit to Rs 25 lakh against the present limit of Rs 10 lakh regarding the sales tax on perishable food items sold in hotels and restaurants.
The fee payable while preferring appeal against assessment should be restored to 12.5 per cent of the disputed amount against the 25 per cent in effect now.
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