Govt upsets tax lawyers | delhi | Hindustan Times
Today in New Delhi, India
May 27, 2017-Saturday
-°C
New Delhi
  • Humidity
    -
  • Wind
    -

Govt upsets tax lawyers

Tax advocates have criticised Delhi government’s order of reducing input tax credit for interstate sales under Delhi Value Added Tax (DVAT) Act.

delhi Updated: Jun 20, 2012 23:54 IST

Tax advocates have criticised Delhi government’s order of reducing input tax credit for interstate sales under Delhi Value Added Tax (DVAT) Act.

All India Tax Advocates Forum president MK Gandhi said this notification will hurt the basic foundation of Delhi Trade. “It will disturb the distributive character of Delhi. The reversal of input tax credit will make goods costlier resulting in drop in trade,” Gandhi said.

Gandhi said the move will result in unemployment and reduction of GDP of Delhi as traders will shift to the city’s satellite towns.