Karnataka - Bangalore   

`Postpone VAT implementation'

By Our Staff Reporter

BANGALORE, FEB. 20. The Bangalore Wholesale Foodgrains and Pulses Merchants' Association has appealed to the Deputy Chief Minister, Siddaramaiah, to postpone the implementation of value added tax (VAT) by six months.

According to the association President, Ramesh Chandra Lahoti, the association has not received any information from the State Government with regard to the rules, regulations and penalty clauses under VAT. Nearly 90 per cent of traders deal in commodities such as rice, wheat and pulses and they have little knowledge of VAT. Many do not know how to issue sales bills, purchase bills and tax credit in the VAT format, he said.

Expressing concern over the increase in tax rates under VAT, Mr. Lahoti said the 9.5 per cent increase would mean an increase of Re. 1 to Rs. 2 a kg of essential commodities such as wheat, rice and pulses.

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