Tuesday, Dec 07, 2004
Tuesday, Dec 07, 2004 |
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Advts: Classifieds | Employment | Tamil Nadu
By Our Special Correspondent
CHENNAI, DEC. 6. The Tamil Nadu Weights and Measures Manufacturers, Dealers and Repairers Association has urged the West Bengal Finance Minister, Asim Das Gupta, who is heading the Empowered Committee of State Finance Ministers on Value Added Tax, to recommend to the Centre inclusion of weighing and measuring instruments in the four per cent VAT slab. In a memorandum, the association said the move would help in the "survival of the industry." The exemption limit for registration under the tax might be raised to Rs.10 lakhs from Rs. 5 lakhs, proposed now, to help small traders. Besides the Central and State sales tax on components such as cast iron and steel, a heavy fee was being collected for verification and stamping by the Department of Weights and Measures. After electronic weighing machines from China and other countries entered the country, several small units had to close down, rendering thousands jobless. The association suggested that a committee, comprising trade representatives and officials, be set up to overcome hurdles to enforcement of VAT.
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