Traders resent wide disparities, anomalies in VAT Acts
New Delhi: Traders in the National Capital on Sunday strongly resented continued wide disparities and anomalies in the Value Added Tax (VAT) laws of different States which had jeopardised the trading activities in the country.
In a statement here, the Confederation of All India Traders (CAIT) alleged that though all the State Finance ministers are members of the Empowered Committee, States left no stone unturned in flouting several important decisions, guidelines and directives of the Committee, which was the major cause of disparities and anomalies in VAT Acts and had even led to `tax war' on certain commodities between States.
In a communication sent to Dr Asim Das Gupta, chairman of the Empowered Committee, CAIT secretary general Praveen Khandelwal, while demanding a `total review of VAT system', lamented that the underlying idea of introducing VAT in India was to bring an end to `tax war' and develop a harmonised taxation system throughout the country thus transforming India on to `one mandi concept'. Abolition of all other taxes except VAT and removal of trade barriers in inter-State trade was another commitment for introduction of VAT in India. -- UNI