Financial Daily from THE HINDU group of publications
Wednesday, Nov 24, 2004
Financial Daily from THE HINDU group of publications Wednesday, Nov 24, 2004 |
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Agri-Biz & Commodities
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Rubber `Rubber being smuggled out' Our Bureau
THIRUVANANTHAPURAM: Rubber is being smuggled in large quantities from Kerala to Tamil Nadu and Karnataka, according Mr G. Sugunan, Chairman of the Kerala State Cooperative Marketing Societies Association. This, according to him, has been causing serious revenue loss to the State and threatened the very existence of rubber marketing cooperative societies. While traders need to pay a 12.65 per cent tax in Kerala over and above the rubber cess of Rs 1.50 per every kg collected by the Rubber Board, the incidence of tax in the neighbouring States was only four per cent. Massive under invoicing has been reported from Tamil Nadu and Karnataka. This has resulted in the smuggling out of as much as 65 per cent of the rubber produced in Kerala to neighbouring States. Smugglers were able to pay a higher price to farmers. Cooperative societies are not able to compete with them since they could not do without paying tax, Mr Sugunan said.
More Stories on : Rubber | Kerala
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