Punjab: Committee on Trade & Industrial affairs recommends 4% entry tax on transformer industry
Author(s): City Air NewsChandigarh, May 14, 2015: Advisory Committee on Trade and Industrial affairs headed by Chief Parliamentary Secretaries Saroop Chand Singla and N. K. Sharma today recommended to the Punjab Government to implement...
cityairnews
May 14, 2015 12:30
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Chandigarh, May 14, 2015: Advisory Committee on Trade and Industrial affairs headed by Chief Parliamentary Secretaries Saroop Chand Singla and N. K. Sharma today recommended to the Punjab Government to implement 4 % entry tax on Transformer Industry to safeguard the interests of local traders.
In a major decision by the committee to facilitate the farming community, it was also recommended to approve the fresh list of agricultural tools recommend by Punjab Agricultural University for tax exemptions as the previous list was devoid of major agricultural tools from tax exemption.
In a meeting held here at Kisan Bhawan with representatives of trade associations and industrialists of Transformer, PVC Manufacturing, Agricultural Tools, Sports, Hosiery, Oil, Steel and Petroleum products alongwith the Commissioner Excise and Taxtation Department Anurag Verma, it was decided to recommend the Punjab Government to put entry tax on transformers as there was a difference in the tax slabs on this industry in Punjab vis-a-vis adjoining states. The present scenario causes inflow of raw material from other states to Punjab, further resulting in loss to local traders as well to the state exchequer.
On the demand to abolish the advance tax on PVC manufacturing in Dhuri, a committee was formed to address the issue at the earliest in consultation with the local traders.
To declare the Sports, Hosiery and Bicycle industry as VAT free, a committee was formed that includes Satish Dhanda, Madan Lal Bagga and Amrik Singh Addl Excise Commissioner. It would listen to the grievances and suggestions of traders at Ludhiana to decide the matter.
Meanwhile, Traders present in the meeting also brought into the notice of committee that mustard, cotton and other oilseeds from Punjab were being processed in other states due to more tax on these oilseeds as compared to others. On this issue committee has also recommended to lower the tax on processing of mustard, cotton and other oilseeds from 6 to 4 % and to impose 2 % entry tax to give a boost to the local trade.
It was also decided to form a committee under the chairmanship of N. K. Sharma CPS to redress the grievances of Punjab Petroleum Association regarding the smuggling of petrol from adjoins states in Punjab.
Prominent amongst others present in the meeting included Madan Lal Bagga Vice Chairman Punjab Traders Board, Satish Dhanda President Udyog Wing SAD, Charanjit Singh Channi President Veopar Wing Doaba Zone, Amrik Singh Additional ETC.
Date:
Thursday, May 14, 2015
