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| ACTF demands uniformity in tax structure | | |
JAMMU SEPT-29-Demanding uniformity in tax structure across the country, Yash Paul Gupta President Associated Chamber of Traders Federation (ACTF) Jammu has alleged that disparity in tax structure has given rise to tax evasion at Lakhanpur in connivance with some of the staff causing huge losses to the genuine traders.
In a memorandum submitted to Finance Minister Abdul Hamid Qarra, the President has said that in neighboring states like Punjab and Delhi the items of similar nature attract lesser tax of 4 per cent as compared to 12.5 percent in Jammu and Kashmir likewise where it is zero percent in those states it is 4 per cent in J&K for the similarly placed items.
The Association in its Memorandum has also pleaded for extension in exemption on Rice and other consumable items till March 2007 from VAT in view of the escalation in the rates of these commodities.
The Association has also demanded that traders with Rs.10 lakh turn over should be exempted from the registration under VAT and sales ranging between Rs.10 lakh to 50 lakh instead of Rs.20 lakh taxable items be brought under composite scheme of 0.25 per cent as suggested by the Empowerment Committee The items like Amlok, dry apple, chirvety, fulmakhana should be exempted from the taxes as it will have minimum impact on tax collection.
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