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| Jammu Chamber of Commerce, Industry welcomes extension of tourism incentives | | |
Early TImes Report
Jammu, Feb 13 Chamber of Commerce & Industry welcomes the announcements of the Hon'ble Finance Minister about extension of Tourism incentives upto March 2015,
Continuation of VAT remission to Industry for another year, Cashless system of VAT remission on purchase of raw material from SICOP adopted from the next year, continuation of exemption on hotel tariff tax upto march 2015, VAT exemption on Atta, Maida, Suji, Besan etc upto March 2015, VAT and Toll tax exemption on hand pumps, VAT exemption of Bee wax, VAT exemption on Oil cake, VAT exemption on bone meal, Toll tax exemption on export of Tootee Basmati, Toll tax exemption on import of husks of pulses and bran and toll tax exemption on weight containers, enhancement of audit limit of turnover for filing of VAT return from 60 lacs to 1 crore and provision of Rs. 2 crores for pilot initiative for micro irrigation.
However, the Chamber feels that the VAT exemption on Atta, Maida, Besan etc is not clear because current VAT exemption list contains items besides the items listed like Pulses and Suji to say that VAT exemption will continue on Atta, Besan, Maida etc should be clarified and the list must also contain Suji and Pulses also.
The announcement that VAT on Shawls will be reduced to 5% is also ambiguous. The Chamber of Commerce & Industry Jammu fought a long battle with the government and convinced it that Shawls were an item which come under "Made-ups" on which there is no VAT, to say that the VAT will be reduced to 5% is not correct. Shawls are totally exempt from VAT and they should remain same, No VAT should be charged on Shawls because they are used by common people in the winter prone areas of the state and also linked with tourism industry. Besides Shawls are also used to cover the dead bodies and to put any tax on it is in bad taste. This issue has been exhaustively debated with the government and if government still persists charging VAT on it, only God can help the people.
Chamber feels that the provisions for other social and welfare sectors like health, education, agriculture, irrigation should also be increased in view of the importance of these sectors for the better quality of the life of the people.
Chamber is fully conscious of the fact that Central Allocations for the state are not as per the expectation of the state, the state must tighten its belt on unproductive expenditure and should give more to the vital sectors of public benefit.
The chamber has, however. regretted that its submission with regard to rationalization of VAT rates on various items like Desi Ghee, Dry Fruits, Milk Powder, Footwear, Mehandi, Diesel etc. so as to bring them at par with the rates of VAT prevalent in the neighbouring states and reduction of VAT on goods sold to defence personal through CSD canteens has not been addressed. The chamber said Punjab government has taken revolutionary measures with regard to streamlining the VAT structure making it more trader friendly which is worth emulating. |
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