MEETING: ACCI delegation meets FCT and ETC

Ludhiana, November 6, 2012: The delegation of Apex Chamber of Commerce and Industry (Punjab) met the Financial Commissioner Taxation and the Excise and Taxation Commissioner at Chandigarh today.  Very crucial issues pertaining to VAT refunds were discussed. 

The VAT rules provides interest for late payment of refund.  In many cases refunds are made very late but no interest is given.  Some tax cases have been brought to the notice of the tax authorities.

While making VAT refund the information is asked from the dealer to give the particulars of VAT tax payment for the last four stages.  It has been explained that a particular dealer cannot get this information and no dealer should be penalised for this.  It is the duty of the Department to verify such payment of taxes.

Any objection in the processing of VAT refund cases should be conveyed to the concerned dealer only through e-mail so that proper record and timings are assured, demands the delegation. 

Further, the officers were apprised that to get C forms lot of information is asked for and there is delay in giving C forms to the dealers.  As a result industry in particular suffers for no reason.  All such information is already available at ICC’s and that should be enough.  Department of taxation is already planning to hold camps in the districts to categorise the genuine dealers so that there is no harassment to them. 

Rajnish Ahuja and G.S. Sembi also participated in the delegation, said the Chamber’s president PD Sharma here this evening.