Wednesday, Apr 06, 2005
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Punjab
LUDHIANA, APRIL 5. Even as four days have passed since the implementation of VAT regime in Punjab, industry is still in the State of confusion with the manufacturing activity as well as supply and distribution chain have been affected due to lack of awareness about the new tax structure. However, experts say industrial activities could not be revived till industrialists are made aware of the new laws. On the other hand, Punjab Excise and Taxation department has also admitted that there could be some teething problem for a couple of months while implementing VAT. The gravity of the problem could be gauged from the fact that the booking of goods for transportation to other states has come down by more than sixty per cent. ``Majority of small scale industry representatives are confused about VAT laws so they have held up their manufacturing activity and releasing of goods. As a result of which there has been a sharp decrease in the goods booking ranging between sixty to eighty per cent,'' said Sarbjit Singh, General Secretary of Punjab State Goods Transporters Association. Industry analysts are of the view that ever since VAT was implemented in the state, the business activity had not gained momentum. ``Business community is still not very much clear about the new laws and provisions. Actually they do not know what kind of things need to be kept in mind while issuing bills to other party. Since industry is not well prepared for adopting the same, it has directly impacted on our production activity which has dipped considerably,'' said Avtar Singh general secretary of Chamber of Industrial and Commercial Undertaking.
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