VAT: Support for protesting industrialists

Protesting industrialists received political support regarding the recent public notice on VAT amendment,effective from 1 June,2011,in which the state has made it mandatory to lodge information on the site of the department Of Excise and Taxation for every Rs 20,000 transaction in a prescribed format.

The Vice-Chairman of Medium Scale Board,Satish Dhanda said: “The requirement is against the principal of freedom to trade. We assure trade and industry that we will not allow the department to carry out this amendment. We feel that small industrialist and small traders do not have the necessary equipment and personnel to fulfill these requirements and the time given is too small and have already urged the department to postpone the effective date and revise the limits for reanimation. We have been told that such rules exist in other states like Andhra Pradesh and West Bengal. Our contention is that in every state the level of computer awareness differs and as such anything which is applicable in one state may not be applicable in another state.”

Madan Lal Bagga,Vice-Chairman of the Punjab trade board,added: “We are having a meeting with Department Of Excise and Taxation tomorrow at Chandigarh and will appraise CM Parkash Singh Badal to get the necessary relief. We urge the industry and trade to not get panicky as we are both on the job.”