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| Chamber hails budget proposals | | | Early Times Reporter
Jammu | Jan 16
Jammu Chamber of Commerce and Industry (CCI) has hailed Finance Minister Tariq Hamid Qarra for presenting no new Tax Budget in the Assembly today. In the budget Nationalization of Plan, Non-plan expenditure and better emphasis on capital investment and development of infrastructure has been laid, the chamber said.
It added, “To overcome the availability of skilled and unskilled labour to the Industrial Units, the handing over of the management of I.T.I’s to the Industrial Associations under Public-Private partnership schemes for imparting Industrial related training to the students and enhancing employment of five workers to ten workers under Provident Fund Act is a welcome step.” Chamber also appreciates the applicability of 3% Interest Subsidy to existing units.
A release issuwed by the CCI said, “Chamber extends thanks to the Finance Minister for acceding to its demands like giving practical shape to the Toll Plaza at Lakhanpur to make it operational round the clock and to add substantial number of dealers in the list of Green Channel clearance. Finance Minister also announced constitution of committee for recommending the changes in the administrative mechanism for effecting the single window clearance at Lakhanpur.”
“The proposal of Chamber for simplification of statutory forms has also been accepted. The sub-policy package for industrially backwards districts of the state with special remedial measures will take place by September 2008. Exemption of Toll Tax on the items imported for substantial capacity expansion by existing Industrial Units and designation of four treasuries for fast track clearance of Bills of SSI units is a welcome step. Government announcement of special provision of Rs. 10 crores for wide publicity to promote tourism in the state is hailed, also the process of working on restructuring power arrangements for tourism sector and possibility of seasonal power tariff policy is a welcome step but Chamber wants that all care should be taken that benefits of both these announcements is reached to all the regions of the state equally. All credit should go to Finance Minister for announcing the amnesty scheme to liquidate the arrears of passenger tax and revamping the passenger tax Act to make it more rational and also deletion of empty bottles, oil cakes, wheat bran, maize and rice bran and locally extracted and processed marble stones from the negative list. Further the extension of Zero percent VAT on Peddy, Rice, Wheat, Pulses, Flour, Atta, Maida, Suji and besan for another on year and placement of Rakhi, Raw Tobacco and Biddies in Zero percent VAT an spectacles in 4% category of VAT schedules is highly appreciated.”
Chamber also welcomes the constitution of committee to work out the modalities for exemption of Service Tax on Job related works carried out by the manufacturing units in the state and levy of one side toll tax on the vehicles crossing over the Lakhanpur barrier to and fro within 24 hours. |
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