The Hindu : Other States / Himachal Pradesh News : Tax exemptions welcomed

Online edition of India's National Newspaper
Friday, Sep 24, 2004

Other States

Other States - Himachal Pradesh

Tax exemptions welcomed

By Our Staff Correspondent

SHIMLA, SEPT. 23. The Excise and Taxation Minister of Himachal, Rangila Ram Rao, has welcomed the area specific tax exemptions provided to the industries by the Centre set up in the State even after implementation of VAT system in the country.

A spokesman said that Mr. Rao while speaking in Finance Ministers meeting on value added tax in New Delhi today welcomed the incentives provided by the Central Government and added that various State Governments have embarked on the path of industrialisation due to various packages provided to them from time to time. He strongly pleaded continuation of tax exemptions to the state industries beyond the year 2007 keeping in view the tough geographical conditions and industrial backwardness of the state.

Excise and Taxation Minister said that the State was fully prepared to implement the VAT system from April 1, 2005 and draft bill has already been prepared in this direction. He said that state has organised various conferences and meetings with the representatives of trade, commerce and industry to educate them about the VAT system and evolve the consensus.

Mr. Rao pleaded for vesting of powers to levy service tax with State Governments and added that State's rights should not be encroached upon by the Centre with regard to constitutional provisions of power to tax. He indicated the implementation of floor rates in sales tax and endorsed the common law point in all state draft acts and bills as formulated by empowered committee of State Finance Ministers.

Printer friendly page
Send this article to Friends by E-Mail

Other States

News Update

Stories in this Section

H.P. becoming unsafe for women

Tax exemptions welcomed