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Coimbatore , March 25

THE Southern India Mills Association (SIMA) has urged the empowered committee on value added tax (VAT) to ensure that VAT is implemented across the country from the originally decided timeframe of April 1.

Any partial implementation of VAT would create imbalance among States.

This would and lead to skewed development especially in the light of Centre retaining the central sales tax (CST) for the next three years.

It said that such a scenario would spell grave consequence for industries such as textiles which source inputs from different States and also sell finished products across different States.

In the absence of VAT, textile producers would be saddled with additional tax burden, the association said.

A slowed-down internal reforms such as direct and indirect taxes, at a time when textile industry is opened to global competition will hurt the competitiveness of the industry.

This will add to the structural rigidity and inefficiency thereby leading to India's textile products getting outpriced, SIMA said in a release.

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