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Industry & Economy - Taxation


`VAT must be fully integrated'

Our Bureau

New Delhi , June 27

WHILE welcoming the resolve of the States to introduce value added tax (VAT) from April next year, the Associated Chambers of Commerce and Industry of India (ASSOCHAM) President, Mr M.K. Sanghi, said that for the VAT movement to succeed, it should be fully integrated subsuming the State and municipal taxes.

The States must restructure their taxes on commodities and services in such a way that not only is sales tax converted into a State-VAT but all other taxes like luxury tax, entertainment tax, passengers and goods tax and entry tax are also integrated with VAT, he said.

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