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PMK MP presents business wish list to Chidambaram

By Our Staff Reporter

PONDICHERRY, FEB. 10. The Pattali Makkal Katchi Parliamentary party leader, M. Ramadass, has presented a memorandum to the Union Finance Minister, P. Chidambaram, highlighting the suggestions of industrialists in the Union Territory.

In a press release, Mr. Ramadass said that he submitted the memorandum to Mr. Chidambaram at a consultative committee meeting of the Ministry. He said the Minister had promised to look into it.

Mr. Ramadass said the industrialists wanted abolition of the Central Sales Tax once the Value Added Tax (VAT) was introduced this year. Further, the awards given by the Facilitation Councils (empowered to act as tribunals) disposing of cases of delayed payments for supplies made by small units should be final.

All small-scale units engaged in job work should be exempted from the Service Tax.

Mr. Ramadass has urged the Minister to ensure that the banks implemented the Credit Guarantee Trust Fund scheme introduced by the Central Government, as the scheme would help small units get loans from banks without collateral.

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