Financial Daily from THE HINDU group of publications
Sunday, Oct 10, 2004
Financial Daily from THE HINDU group of publications Sunday, Oct 10, 2004 |
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Industry & Economy
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Taxation `States must involve taxpayers in VAT preparation' Our Bureau
New Delhi , Oct. 9 STATE Governments must involve taxpayers in the value added tax (VAT) preparation process, according to Dr G.C. Srivastava, Member-Secretary of the Twelfth Finance Commission. In his valedictory address at the fifth advance training in VAT Policy and Administration conducted by the Foundation for Public Economics and Policy Research (FPEPR) here, Dr Srivastava suggested that taxpayers could participate in the process through advisory or implementation committees. He held that taxpayers must be impressed upon the fact that VAT is essential for them under an open economy. Once they understand the need for VAT, then there would be no opposition to it. Stating that the price effect of VAT should be kept in mind, Dr Srivastava also highlighted that the interest of the consumers must be kept above all. About 25 senior officers from sales tax departments of eight States participated in the training programme.
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