Kerala - Kochi   

Rubber dealers seek refund of excess tax

KOCHI: The Cochin Rubber Merchants Association has appealed to the State government for refund of the excess tax amount deposited by the rubber dealers conducting inter-State trade.

Rubber dealers who conduct inter-State trade are facing difficulty with the blockage of funds already pending with the Taxes Department, said N. Radhakrishnan, president of the Rubber Merchants’ Association, in a press release here.

Following a recent notification by the Union government reducing Central Sales Tax to two per cent, rubber dealers who pay four per cent Value Added Tax (VAT) within Kerala on their purchase can realise only two per cent on account of inter-State sale, said the statement.

Mr. Radhakrishnan said rubber dealers who send the commodity to other States would have to deposit up to Rs.120 crore with the government with an anticipated despatch of six lakh tonnes of rubber. As per the agreement, the Union government reimburses the amount to the State government and the latter refunds it to the rubber dealers.

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