Industry & Economy
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Industry Associations
TN Foodgrain merchants' plea
Our Correspondent
MADURAI: The Tamil Nadu Foodgrains Merchants Association, in a pre-budget memorandum submitted to the State Government, for the year 2004-05, has sought for a number of exemptions for the small traders.
In a statement here, the association, highlighting the excerpts from the memorandum, has pleaded for exempting the small time traders and manufacturers whose annual turn over did not exceed Rs 5 lakh from the purview of registration under the TNGST Act.
Traders with a turnover below Rs 10 lakh should be exempted from paying sales tax as it would help ease the problem of accounting for them with their meagre income. In the larger interest of the general public, levy of sales tax on common food staples such as pulses, grams, jaggery and pepper should be done away with. As the value added tax system is on hold, the 1 per cent resale tax introduced as a prelude to VAT, should be withdrawn immediately.
Highlighting further their demands, the association has urged the Government to avoid levy of sales tax on oil seeds and oil separately. It has pleaded for releasing of the order for the removal of licensing requirements, stock limits and movement restrictions on edible oils, pulses, gur and wheat products and include the chillies too in the list.
The conditions attached to the existing self-assessment scheme should be totally waived in recognition of honest traders, it has demanded.
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