Financial Daily from THE HINDU group of publications
Tuesday, Jan 25, 2005
Financial Daily from THE HINDU group of publications Tuesday, Jan 25, 2005 |
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Opinion
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Letters Advantage VAT
This is with reference to "The disturbing elements of VAT" (Business Line, January 24): It is true that the Value Added Tax system involves a complicated system of accounts that require time-tested procedures. However, traders should realise that penal provisions can hardly been invoked unless the mens rea for commission of the offence is proved. Moreover, the benefits of the VAT system, such as the facility of cross-checking of accounts, avoidance of cost-cascading effect, improvement of efficiency and so on, outweigh the negative impacts of the `disturbing elements'. Hence, early introduction of the VAT system is desirable. C. Ramesh, Keeramangalam (TN)
Letters to the editor and contributions can be sent by e-mail to: bleditor@thehindu.co.in
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