Financial Daily from THE HINDU group of publications
Tuesday, Sep 21, 2004
Financial Daily from THE HINDU group of publications Tuesday, Sep 21, 2004 |
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Agri-Biz & Commodities
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Rubber Rubber dealers urge Kerala to reduce sales tax Our Correspondent
Kottayam , Sept. 20 THE Indian Rubber Dealers Federation has urged the Kerala Government to reduce the existing purchase tax from 12.65 per cent to 6 per cent. The federation, which made the plea during its 14th annual conference, said the purchase tax in Kerala was the highest compared with Karnataka and Tamil Nadu and it was affecting the trade. TheAccording to Mr George Valey, President of the Federation., this led to smuggling of rubber. Mr Valey said the federation also sought enhancing rubber export subsidy The conference sought the setting up of a committee under the of Forward Marketing Commission to study all issues involving futures trade. The federation decided that until the study was completed, it would boycott futures trading in all agricultural produces including rubber. A new board consisting of twenty-one members has been elected for the Federation next year with Mr George Valey as President, Mr Jose Mamparampil as Vice-President, Mr C.J. Augustine as Secretary and Mr E.T. Varghese as Patron.
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