?Introduce VAT to check tax evasion in State?
NOTED ADVOCATE at the Allahabad High Court Bharatji Agrawal has suggested the Uttar Pradesh government to introduce the value added tax (TAX) scheme to check tax evasion in the State.india Updated: Jan 09, 2006 00:45 IST
NOTED ADVOCATE at the Allahabad High Court Bharatji Agrawal has suggested the Uttar Pradesh government to introduce the value added tax (TAX) scheme to check tax evasion in the State.
He was speaking at the third technical session of a national seminar on taxation at Swatantrata Bhawan in Banaras Hindu University (BHU) on Sunday.
Senior Standing Counsel to the Income Tax Department of Government of India, Agrawal said personal interest should never override national interest, therefore, the UP Government should introduce VAT.
Agrawal, who is also vice-president (north zone) of the All India Federation of Tax Practitioners, was of the view that it was due to the personal interest of traders that the multiple-point tax scheme was not yet introduced in the State.
Former member of the Compliance Committee of the International Federation of Accountants, Bhavna G Doshi, said introducing VAT in each State was the need of the hour.
Doshi, also former chairperson of the Accounting Standards Board of ICAI, said this multiple-point tax scheme would facilitate Indian traders to compete in the international market. “This scheme is beneficial for both traders and consumers,” she added.
Fellow member of the Institute of Chartered Accountants of India, Sunil B Gabhawalla of Mumbai delivered a lecture on ‘Service tax: Recent controversies’. “Service tax has some factors, such as intention driven law, confusing definitions, overlapping services, circular driven benefits/exemption and frequent amendments, which makes it the most controversial scheme,” he said.
Former president of the Varanasi branch of Central Indian Regional Council of ICAI, VK Jindal, conducted the programme while Vijay Prakash proposed the vote of thanks.
Fiscal Laws Committee of the Institute of Chartered Accountants of India had organised the seminar.