Financial Daily from THE HINDU group of publications
Tuesday, Nov 25, 2003
Financial Daily from THE HINDU group of publications Tuesday, Nov 25, 2003 |
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Agri-Biz & Commodities
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Tea Upasi pleads for auctions' resumption Deeptha Rajkumar
Wellington (Nilgiris) , Nov. 24 THE United Planters' Association of Southern India (Upasi) has recommended that the tea trade associations of Coimbatore and Coonoor resume auctions this week, based on the assurance given by the Tamil Nadu Government. The State Government has assured to a delegation of bought leaf producers and small growers, to resolve the imbroglio over recovery notices served by the Sales Tax Department claiming tax arrears from brokers under the Tamil Nadu General Sales Tax (TNGST) for sales effected under Central Sales Tax. "This is our way of showing our commitment to the industry and our faith in the Minister's assurance. We hope, in good faith, that the State Government will move fast and resolve the issue to the industry's satisfaction. "However, if there is no positive outcome and given the huge liability, auctions will be suspended next week and this time indefinitely for the whole of South India,'' Mr D.P. Maheshwari, Chairman Upasi Tea Committee told Business Line. This decision comes in the wake of a meeting convened by the Upasi Tea Committee with representatives of the tea trade including small growers, bought leaf producers, brokers and buyers on Monday. The meeting was chaired by Mr B.B. Medaiah, President, Upasi. When contacted, the Upasi chief said the recommendation had been made keeping in mind the interests of the tea industry, in particular that of the small grower. "We urge the Government, in particular the Chief Minister to act upon the matter immediately,'' he added. It is reliably learnt that a final decision on resuming auctions this week, will be taken at an emergency meeting of the Coonoor Tea Trade Association on Tuesday. Tea Trade Association of Coimbatore is meeting on Wednesday to discuss the issue. Meanwhile, in a separate move, the auctioneers will be filing their writ with the Sales Tax Tribunal in Chennai on Tuesday. The hearing has been scheduled for Thursday/Friday. The appeal to the tribunal highlights the element of scepticism that continues to hang over the broking community, largely due to the fact that the Commercial Tax Officer (CTO), Coonoor had issued fresh notices to some brokers. Prior to the Upasi meeting, the Tea Auctioneers Association of India (TAASI) had written to the CTO, Coonoor, questioning the rationale behind issuing fresh notices to some brokers even as their petition pending disposal (as per the CTO) before the Chief Minister. "In their demand notices on November 5 to us, the CTO has also questioned the rules and regulations of the Tea Trade Association of Coonoor and Coimbatore and considered them to be invalid. If so, we would like the CTO to inform us in writing as to how sales are to be conducted in future,'' the TAASI letter questions.
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