Financial Daily from THE HINDU group of publications
Thursday, Mar 13, 2003
Financial Daily from THE HINDU group of publications Thursday, Mar 13, 2003 |
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Industry & Economy
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Taxation Delhi to modify draft VAT Bill Our Bureau
NEW DELHI, March 12 THE Government of the National Capital Territory of Delhi proposes to bring about further changes to the draft value-added tax (VAT) Bill. These modifications are being undertaken to take care of the concerns expressed by different stakeholders, official sources said. The Finance Minister of NCT of Delhi, Mr Mahinder Singh Saathi, added to the uncertainty over Delhi's progress to the VAT regime from April 1, by making it clear that the Government was yet to come to a final decision on whether a VAT regime should be implemented or not from that date. At the same time, he held that a VAT regime seemed to be inevitable. "A VAT regime is inevitable. Sooner or later, we have to fall in line", he said at a meeting organised by Federation of Indian Export Organisations (FIEO) here, while rueing that consumers would have to bear the brunt of increase in prices. Mr Saathi used the occasion to raise various issues concerning the implementation of VAT.
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