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MP textile traders will have to pay 5% tax - Minister
30 Aug '11
1 min read
Textile traders in Madhya Pradesh will have to temporarily pay a tax of five percent as the notification to the effect has already been issued, State Finance Minister Raghavji has said.
The Minister was speaking to representatives of wholesale textile traders from the State. He, however, assured them that he would take up the matter with Chief Minister Shivraj Singh Chauhan and request him to withdraw the tax.
The traders are demanding that the government make textiles tax-free as per the assurance given in the State's annual budget. The traders say that they are not levying any additional cost from their customers and hence they will not be able to pay taxes to the government.
The notification of five percent tax on textiles has been issued by the State finance ministry. There is already a one percent entry tax levied on textiles and the traders now need to pay a total of six percent tax.
Madhya Pradesh has traditionally been a trader-friendly State and the five percent tax may be rolled back after discussion with the Chief Minister. But, meanwhile the traders will have to pay the tax.
The Minister was speaking to representatives of wholesale textile traders from the State. He, however, assured them that he would take up the matter with Chief Minister Shivraj Singh Chauhan and request him to withdraw the tax.
The traders are demanding that the government make textiles tax-free as per the assurance given in the State's annual budget. The traders say that they are not levying any additional cost from their customers and hence they will not be able to pay taxes to the government.
The notification of five percent tax on textiles has been issued by the State finance ministry. There is already a one percent entry tax levied on textiles and the traders now need to pay a total of six percent tax.
Madhya Pradesh has traditionally been a trader-friendly State and the five percent tax may be rolled back after discussion with the Chief Minister. But, meanwhile the traders will have to pay the tax.
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