The Hindu : National : J&K Assembly passes VAT Bill

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Sunday, Apr 03, 2005

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National

J&K Assembly passes VAT Bill

By Our Staff Reporter

JAMMU, APRIL 2. The Jammu and Kashmir Legislative Assembly today passed the Value Added Tax (VAT) Bill, paving the way for the introduction of the new tax regime in the State. Only three days ago the State Government promulgated an ordinance to introduce VAT from April 1.

Replying to the discussion on the Bill, the Finance Minister, Muzaffar Hussain Baig, said a disinformation campaign had been launched by vested interests among the traders that under the new law the consumer would be the ultimate beneficiary. Even the fruit and vegetable vendors and wine dealers, who do not come under the VAT regime, were misled and forced to join the strike by those who had been evading tax under the Sales Tax regime.

In February 2003 the VAT bill was drafted by the then National Conference Government and introduced in the State Legislature in June 2003. Instead of criticising the Government, the NC should be happy that we fulfilled their commitment.

Denying the Opposition criticism, Mr Baig said a vigorous awareness campaign was launched in the State educating the traders about VAT.

Earlier the NC members protested against the manner in which the Bill was being passed and demanded a lengthy discussion on the issue.

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