Financial Daily from THE HINDU group of publications
Monday, Feb 06, 2006
Financial Daily from THE HINDU group of publications Monday, Feb 06, 2006 |
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Opinion
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Letters VAT concerns
The Ficci survey on VAT highlights the perils of imposing VAT without putting in place necessary pre-conditions such as uniform rates across States for similar products. The pitfalls of such negligence will come into sharp focus if highly taxed products come under VAT. Since temptation of evasion on such products is high, this is likely to lead to the generation of black money at the hands of unscrupulous middlemen enjoying exemption from VAT levy. The Ficci survey brings to fore the inadequacies of VAT in its current form. Before expanding the VAT net to include other products, the empowered committee should deliberate upon the revenue efficiency of such a move. Gopinath Sarangi Sarangi Committee on Excise Structure Rationalisation Bhubaneswar
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