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Our Bureau

Hyderabad , Feb. 14

THE Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI) has asked the Central and State Governments to phase out Central Sales Tax to pave the way for a uniform tax regime in the country.

In a pre-Budget memorandum submitted to Mr K. Rosaiah, State Finance Minister, the FAPCCI said the Government should come out with a comprehensive goods and service tax at the earliest. "Uniform taxation, single invoice system for excise and VAT (Value Added Tax) must be introduced," Mr C.V. Atchut Rao, President of FAPCCI, said in the memorandum.

He also pointed out that all kinds of industrial inputs and capital goods should be included in the Scheduled IV that attracted four per cent. He warned that high rates of tax would prove to be an "incentive" to evade the tax. Moreover, it encouraged grey market.

Referring to the Jawaharlal Nehru National Urban Renewal Mission, he said the State needed to take up more reforms with regard to Urban Land Ceiling Act 1976 (ULCA), Rent Control Act and stamp duty.

This, he said, would get the State handsome funds from the Centre for urban development. Stating that the State did reduce stamp duty, Mr Atchut Rao said there was still scope to reduce it further to conform to the national habitat policy. This would result in increased collections and compliance.

Calling for repeal of ULCA, he cited the Congress' promise in the Manifesto for the general elections with regard to the repeal.

It also emphasised the need for allocating more funds to the judiciary, facilitating establishment of special courts to deal with cheque bouncing cases in important commercial centres.

Quoting Mr Justice V.N. Khare, a former Supreme Court judge, the memorandum said that there were only 13.5 judges for a population of 10 lakh in the country.

This needed to be multiplied by 100.

More Stories on : Taxation | Industry Associations | Andhra Pradesh

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