Tuesday, Mar 29, 2005
Tuesday, Mar 29, 2005 |
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COIMBATORE: The Southern India Mills' Association has appealed to the Empowered Committee on Value Added Tax (VAT) to ensure that the tax was implemented across the country from April 1. In a release, the association Chairman, Vijay Venkataswamy, said that partial implementation of VAT would create an imbalance among States leading to `skewed development', more so as the Centre had preferred to retain the Central Sales Tax for the next three years. Partial implementation would have `grave consequences' for the textile industry as textile units sourced inputs from different States and also sold their finished products across different States. The textile producers "would only be saddled with additional tax burden impeding growth." He appealed to the Empowered Committee on VAT to evolve a consensus among all the States.
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