Financial Daily from THE HINDU group of publications
Thursday, May 20, 2004
Financial Daily from THE HINDU group of publications Thursday, May 20, 2004 |
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Industry & Economy
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Taxation TN traders want resale tax to go Our Bureau
CHENNAI: Trade bodies in Tamil Nadu, while welcoming the restoration of free power to farmers and expanded coverage under the public distribution system, have urged the Government to do away with the resale tax on essential commodities and turnover tax on trade. The Tamil Nadu Chamber of Commerce and Industry and the Madurai Oil and Oil Seeds Association have called for the repeal of the 1 per cent resale tax, which has affected the traders. According to the oilseeds association, the levy of resale tax on edible oils and vanaspati has also hiked the price of these commodities for the consumers. The Government should also lift the turnover tax and surcharge on the traders. Oil millers should be given the facility to set-off the tax paid on raw materials. The chamber asked the Government to constitute an advisory committee, including representatives of the trade and industry, to enable exchange of information between trade and government.
More Stories on : Taxation | Tamil Nadu
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