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Our Bureau

Chennai , Jan. 19

TRADERS are hoping that the Union Government will exempt items of day-to-day use such as edible oils from the purview of value added tax.

In a communication to the Union Finance Minister, Mr P. Chidambaram, the Madurai Oil and Oilseeds Association has urged the Centre to exempt edible oils from the purview of VAT.

Edible oils are an item of daily use and levy of tax would hike the cost for the poor. Further, the Centre's annual revenue from edible oil imports, refiners, vanaspati manufacturers and wholesalers in the form of import duty, excise, service tax, surcharge and education tax was over Rs 14,000 crore. Therefore, the trade could be exempt from VAT on edible oils, the association has said.

The association has also objected to the levy of service tax on the trade, which should have been levied on lorry booking agents.

It is only the service provider who should collect the tax and not those using the service, according to the association.

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