Tamil Nadu - Coimbatore   

CII welcomes budget announcements

Staff Reporter

COIMBATORE: The Confederation of Indian Industry (CII), Coimbatore Zone, has said the State Government's announcement to implement Value Added Tax from January 2007 "would do a lot to increase investor confidence and help industries increase competitiveness."

Further, the move to exempt small traders up to Rs. 10 lakh limit from registration would address the concerns of the small traders, said Jayakumar Ramdass, Chairman of the CII- Coimbatore Zone in his reactions to the revised budget for 2006-07.

The proposal to establish the second Tidel Park in Chennai and a new one in Coimbatore would bring in significant investment and increase the possibility of export earnings and employment, he said.

The Paper and Allied Merchants' Association said that announcement of a proposal to introduce Samadhan scheme would clear the cases pending in various appellate forums and courts. The association welcomed the proposal to set up a Tidel Park here.

The Tea Trade Association welcomed the announcement reducing sales tax on tea sold through the public tea auctions from 8 per cent to 4 per cent and Central Sales Tax from 4 per cent to 2. The chairman of the association, U.V. Saraf, said exempting tea sales effected at the auction centres from the levy of additional tax and surcharge will encourage more buyers to participate in the transparent "public tea auctions".

Printer friendly page  
Send this article to Friends by E-Mail

Stories in this Section

Wait ends, their time starts now
A messy tangle over city roads
Planters hail budget
CII welcomes RBI policy
CII welcomes budget announcements
UG courses to begin at TNAU on July 28
In Coimbatore Today
Reader's Mail

Copyright © 2006, The Hindu. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu