Financial Daily from THE HINDU group of publications
Wednesday, Jan 05, 2005
Financial Daily from THE HINDU group of publications Wednesday, Jan 05, 2005 |
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Industry & Economy
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Taxation Service tax on goods transport: Mangalore traders to observe `protest day' today Our Bureau
Mangalore , Jan. 4 MEMBERS of trade, industry and transport sectors in Mangalore will observe `protest day' on Wednesday against service tax on transport of goods by roads. Addressing newspersons here on Tuesday, the President of the Kanara Chamber of Commerce and Industry (KCCI), Mr A. Srinivasa Rao, said that service tax on transport of goods by road would cause burden to consumers. They may have to pay 25 per cent more for the product because of the transportation cost. "It is virtually a levy on the consumers in general, as the movement of goods is taxed directly," he said. Stating that there is lot of ambiguity in levying this tax, Mr Rao said, "It may lead to the revival of `inspection raj'." On Wednesday, KCCI delegation would submit a memorandum to the Excise Commissioner, he added. Mr Vishwanath Kamath, KCCI member, said that traders would begin `non-compliance' movement from Wednesday. As a first step in this regard, KCCI has taken initiative to educate trading community in the region. In the second step, traders will not allow the members of the levy-enforcing machinery to enter their premises, he said. Though the Federation of Karnataka Chamber of Commerce and Industry has given a call for trade `bandh' on, KCCI members will observe `protest day' and the traders will function as usual. The chamber took this decision as there was not much time to organise a trade bandh in the district. Mr K. Prakash Rao, KCCI member and President of the Karnataka Cashew Manufacturers' Association, said that only surface transport is levied this tax. Railway transport is exempted from this, he added.
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