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| Associated Chamber of Traders Federation demands raising of exemption limit | | | Early Times Report
Jammu, Feb 14: A meeting of Associated Chamber of Traders Federation was held today under the Chairmanship of its President Yash Paul Gupta to discuss annual budget presented by the Hon'ble Finance Minister of J&K A.R. Rather.
At the outset the President appreciated the Finance Minister for not imposing any new tax and again keeping essential commodities in 0%, raising the audit limit from 60 lac to 1 crore as demanded by the ACTF in the Pre-Budget meeting. All the members those who were present in the meeting are of the view that since it was an election year and lot more was expected from the Hon'ble Finance Minister as,
n Demand for raising the exemption limit was from Rs 7.5 lac to Rs 15 lac but agreed only upto 10 lacs.
n Tot limit on annual turnover was demanded from Rs 20 lac to Rs 50 lac and rate of tax .5% but agreed upto Rs 25 lacs only.
n DRY FRUITS such as Choara, kishmish, kaju,pista, anjeer, khumani, alu Bhakhara, chalgojay etc. from 13.5% to 5%
n Electrical Items: PVC copper wires and PVC pipes from13.5% to 5%.
n Plywood and plyboards from13.5% to 5%.
n Whole milk powder (Baby milk powder) and Desi Ghee. from13.5% to 5%.
n Lamination film used in offset printing press from13.5% to 5%.
n Suraksha Hose (Used in LPG chula's with gas cyclinders) from13.5% to 5%.
n File covers, chalk. from13.5% to 5%.
n Sweet meats (Mithai) from13.5% to 5%.
Members also show their serious concern that no provision has been kept in the budget for creating new parking slots, shopping complexes, commercial centers, residential colonies etc. which needed immediate attention from the govt. to decongest Jammu city, and members also hope that genuine issues will be addressed by the Finance Minister to fulfill the aspirations of the trading community in particular and common man of J&K State. |
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