Financial Daily from THE HINDU group of publications
Wednesday, Feb 19, 2003
Financial Daily from THE HINDU group of publications Wednesday, Feb 19, 2003 |
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Industry & Economy
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Taxation Groundswell against VAT Our Bureau
KOCHI: Protest against the implementation of VAT is gaining momentum in the State as more and more organisations and trade bodies are coming forward raising objections over the Bill. Traders owing allegiance to the Kerala Vyapari Vyavasayi Ekopana Samithi have decided to down shutters on February 20 in protest against the proposed legislation, the draft of which will be introduced in the Assembly on that day. The traders have also decided to hold a dharna before the Secretariat in protest against the introduction of the Bill. The Samithi has demanded that the provisions that would adversely affect trade and business be omitted from the new law. It has also demanded that small traders be exempted from the purview of the Bill. Other demands of the Samithi are that a Traders' Welfare Board be immediately constituted and welfare activities taken up. The Samithi appealed to all traders in the State to make the protest a success. Meanwhile, the Kerala Textile and Garments Dealers Welfare Association has urged the Government to go slow on VAT. According to the association, the Bill was prepared in haste, without studying its full impact on trade and industry and ignoring the apprehensions of trade and industry bodies over the difficulties of its implementation. The Bill is incomplete, ambiguous and not at all dealer-friendly, the Association General Secretary, Mr K. Krishnan, said in a statement. It contains proposals that tend to harm trade and industry, he added. Even the manufacturing States such as Tamil Nadu and Karnataka are still studying the implications of VAT, while the consumer State of Kerala is going ahead with it. Being a consumer State, Kerala should think twice before enacting the VAT Bill, he added.
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