Ludhiana News/Plywood manufacturers held discussions over lump-sum payment of taxes

Ludhiana, November 26, 2013: Punjab Plywood Manufacturers Association held it`s general house meeting, at Ludhiana to discuss the lump-sum payment of taxes new policy for plywood manufacturers in Punjab has been notified by Excise & Taxation Department Punjab according to which taxes will have to be paid on the basis of annual rates fixed as per the sizes of plates of plywood manufacturing presses in the units. It is optional whether one can opt for lump-sum system or regular basis through e-TRIP system.

Ashok Kumar Juneja, Chairman and Inderjit Singh Sohal, President while addressing the general house meeting of Punjab Plywood Manufacturers Association (PPMA) today said that the government promised that the said policy would be on pattern of Haryana VAT’s lump-sum payment of tax laws but there are much harsh variations and rigidly in the Punjab’s new policy. PPMA decided that they will write to the government for further simplification.

Further, NareshTiwari, Secretary General and Avinash Singla, General Secretary said that the prices of raw material like Phenol, Formyline and Face Veneer have increased considerably causing cost increase of all kinds of plyboard and plywood.

Baldev Singh and Harmeet Honda, Vice Presidents PPMA said in case the prices of plywood are not increased then industry will be adversely affected & closed.

PPMA anticipated and viewed that consequently the existing prices of all kinds of plywood and plyboard in Punjab and other states will go up minimum rupee one per square feet immediately.