Financial Daily from THE HINDU group of publications
Monday, Jun 10, 2002
Financial Daily from THE HINDU group of publications Monday, Jun 10, 2002 |
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Industry & Economy
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Industry Associations Chamber welcomes tax reforms panel, seeks slot Our Correspondent
MADURAI, June 9 TRADE and industry circles here have hailed the constitution of Tax Reforms and Revenue Augmentation Commission headed by Dr Raja J. Chelliah, by the Tamil Nadu Government to study the existing procedures of taxation and tax collection and recommend measures for simplification, revenue augmentation and better tax compliance. The Tamil Nadu Chamber of Commerce and Industry, in a statement here, said that various amendments made in the past had made sales tax law and procedures in Tamil Nadu highly complicated and complex. It hoped that the commission would recommend concrete steps for simplification of sales tax legislations and encourage honest dealers. The chamber expressed confidence that recommendations for rationalisation of tax rates would create a situation when it would be easier for the traders to pay tax than evade it and also arrest the flight of trade to other States on account of comparatively high rates of tax incidence in Tamil Nadu. The commission should also take into consideration the fact that by introducing necessary changes in the Act, corrupt practices could be eliminated to a large extent by initiating stern actions against tax officials who harassed honest dealers by unfair tax assessments and unjustified raids and searches. The chamber appealed to the Tamil Nadu Government to forward to the commission the highly controversial tax proposals such as levy of entry tax on industrial inputs, multipoint tax, surcharge, sales tax on essential food items (like rice, wheat, pulses and grams), enhancement of appeal fees from 12.5 to 25 per cent of the disputed tax amount announced in the Tamil Nadu Budget 2002-2003, and keep them in abeyance till the recommendations of the commission are received. The chamber expressed its displeasure and concern about the non-inclusion of representatives of trade and industry in the high-level commission, especially in view of the fact that trade and industry remit tax revenue to the tune of out Rs 9,000 crore per year to the State exchequer. It made an earnest appeal to the Chief Minister for appropriate representation for trade and industry in the commission so that the purpose for which the commission was constituted could be fully achieved.
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