Haryana Pradesh Veopar Mandal (HPVM) president Bajrang Dass Garg, who is former chairman, Confed Haryana, has urged the Union government to raise the income tax limit from `2.5 lakh to `5 lakh per annum. Talking to mediapersons, he said, "The value of rupee is going down and inflation is rising. The exemption of income tax should be extended to the people whose income is up to `5 lakh annually."
Garg said, "If the government wants to give a boost to trade and commerce all taxes should be replaced by general sales tax (GST) and there should be uniformity in taxes for industrialists, shopkeepers and salaried class all over the country. The traders have been demanding for long to introduce GST because firstly it would provide relief to them from the voluminous paper work and secondly it would enhance the revenue of the government."
He claimed that, "If there is uniformity in GST across the country the NRIs would invest in India and the problem of unemployment would be resolved automatically. The small traders should be given loans on nominal interest rate as is being done in the case of farmers. Still the Inspectori Raj is haunting the traders in Haryana and the tax system should be simplified."