To end the impasse with regard to enforcement of anti-tax evasion measure e-TRIP system,Punjab Deputy Chief Minister Sukhbir Singh Badal on Tuesday held a meeting with industry representatives to allay their fears. The traders were led by senior BJP leader Rajinder Bhandari.
At the meeting,Sukhbir asked Excise and Taxation Commissioner Anurag Verma to study a proposal floated by the plywood industry entailing payment of lump sum tax provided the e-TRIP system is rolled back. As per the Plywood Industry Association,currently,the members were paying tax of Rs 2 lakh per unit. They were ready to pay Rs 9 lakh tax per unit if e-TRIP was withdrawn. The sector is currently paying just Rs 10 crore annually as tax revenue to state exchequer. According to the taxation department,the sector is notorious for tax evasion.
Sukhbir also agreed the proposal of hosiery and nut-bolt sectors wherein they will not be required to provide information through e-TRIP if the goods are to be supplied within this city. But once the goods leaves outside the city,they have to provide information under e-TRIP.
Sukhbir also asked the excise and taxation commissioner to study the proposal of hosiery industry to charge lump-sump tax calculated per box in order to contain revenue leakage. He also asked the commissioner to come out with a proposal under which hosiery traders would be able to deposit tax on cash counters established at various check points and at ICC railway station Ludhiana.
However,yarn traders were disappointed as their demand of rolling back of e-TRIP from them was not accepted. We are quite disappointed as state government did not give any relief to us by not withdrawing e-TRIP, Punjab Yarn Dealers Association president Radhey Sham Ahuja said.
At the meeting,Sukhbir tried to clear the misconceptions about e-TRIP. While claiming that it has been introduced to bring about transparency in collection of taxes and check harassment of businessmen,Sukhbir said though the BJP was now objecting to the system,it was a party to the decision to impose e-TRIP.