Businessmen from Bhopal apprise minister of 'threat' from online companies

  • HT Correspondent, Hindustan Times, Bhopal
  • Updated: Feb 04, 2015 18:30 IST

Worry of businessmen from Bhopal was apparent on Tuesday when they met finance minister Jayant Malaiya in a programme organised for pre-budget discussion. Traders urged finance minister to tax the online companies to bring them at par with online companies.

Resident director of PHD Chamber of Commerce, RG Dwivedi said that finance minister Malaiya and principal secretary Manoj Shrivastava were quite receptive about suggestions given by traders, industrialists and businessmen.

He said that he urged the minister to reduce stamp duty on loan documents and bring at par with neighbouring states which is below 1%. He also cautioned the government to keep industrial policy announced by chief minister in mind while making budget.

One of the representative from traders community said that some system should be evolved to tax online companies. "They sell the items cheaper than the retailers because no tax is levied by state on them," he said.

This has affected their business substantially, he added. Iron Traders Association president Virendra Oswal urged the government to exempt tax on iron transportation from one district to another.

Transporter Ashok Malpani and petrol pump owner Rajendra Bagga said that higher VAT on petrol and diesel in state has lowered its sales and state is suffering a loss of Rs 1 crore per day due to it. Representatives from Mandideep Industrial Association were also present in the meeting.

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