Delegation of industrialists to meet Sukhbir Badal on July 30
A delegation of industrialists and traders of the city would meet the deputy chief minister Sukhbir Badal on July 30 to rake up the issue of e-tripping and the delay in getting the refund of Value Added Tax (VAT).punjab Updated: Jul 25, 2013 16:35 IST
A delegation of industrialists and traders of the city would meet the deputy chief minister Sukhbir Badal on July 30 to rake up the issue of e-tripping and the delay in getting the refund of Value Added Tax (VAT).
Chief parliamentary secretary and local MLA KD Bhandari is instrumental for arranging the dialogue between deputy CM and industrialists, as the latter had threatened an intensified agitation against the state government on the burning issue of e-tripping and VAT refund.
"We had arranged meeting of entire business community on July 22, in which all four local MLAs including Bhagat Chunni Lal (local bodies minister), Manoranjan Kalia, Pargat Singh and KD Bhandari were invited, but barring Bhandari, no other MLAs dared to come on the venue to listen to our grievances", president of the Federation of Jalandhar Industrial and traders associations, Gursharan Singh said.
In the proposed meeting with deputy chief minister, the industrialists would strongly rake up the issue of e-tripping, which makes it mandatory for the industrialists to give on-line detail of sale of more than Rs 50,000, apart from undue delay in getting the eligible refund of VATs.
"Compliance to the e-tripping guidelines is not possible for industrialist and traders, as even small traders would have to install computer with its operator for on-line entry of every transactions of more than Rs 50,000, which will put further financial burden on the industry, already going through economic recession", Singh said.
On delay in getting the VAT refund, federation president said that outstanding refund of more than Rs 600 crore was not given by the excise & taxation department on one pretext or another.
"How it is possible to run the business on the basis of borrowed working capital, when our own money is not paid by the department?" he said.
Till 2005 the taxation department was paying VAT refund, without C-form (record of inter-state business transactions), but in 2009, C-form was made mandatory, resulting in delay of getting the VAT refund in the absence of C-Forms, Singh said.