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Punjab traders threaten bandh

LUDHIANA: Traders in Punjab have threatened a one-day bandh to protest non-extension of the deadline for depositing the Value Added Tax (VAT) returns.

Industry representatives have also decided to boycott a State-level rally being organised by the Congress party here on November 14.

"We have been left with no option except to shut down our businesses on November 17 as in spite of our requests to the State Government for extending the last date for VAT returns due to acute shortage of CF forms, nothing concrete has happened," United Cycle & Parts Manufacturers Association spokesperson K.K. Seth said here on Wednesday.

Over 60 State-based industrial associations have extended their support to bandh call.

Political observers say the agitation could harm the prospects of the Congress party in the forthcoming state assembly elections.

State industry has been for the past several days seeking extension of last date for submitting VAT returns, which is November 20.

Industry representatives said they are facing an acute shortage of C forms, which is to be attached with VAT returns otherwise they would have to pay higher rate of tax.

``We have not been getting C forms from the traders of several state including Maharashtra, Tamil Nadu etc. As a result of which we are unable to submit the VAT returns,'' said Varinder Kapoor, an industrialist.

Industry representatives have sought the extension of last date to March 31, 2007 but they have not been given any assurance in this regard. PTI

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