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Ludhiana Knitwear Club upset over new taxation policy
May '11
Industrialists are distressed over the excise and taxation Department's new direction that, the they would have to register online for any intra state transaction above Rs. 20,000 for six major commodities including iron and steel, timber, cotton bales and yarn, marble, edible oil and all sort of tiles, and above Rs. 200,000 for other items.

The order was issued via a notification and would become applicable from June 1.

Pursuant to the order the industrialists are very upset as they are apprehending that it would hit the small-scale industry.

The agitated industrialists thus decided to protest against the decision, following which around 42 associations in Ludhiana staged a massive protest on May 12.

Vinod Thapar, President of the Knitwear Club while voicing the issues of the industry said that, in spite of a 38 percent rise in tax earnings during the current year, the taxation department has issued such a direction just to trouble the industrialists.

According to P D Sharma, President of Chamber of Commerce and Industry (Punjab), the small scale units are just not internet savvy and it will not be easy for them to operate online.

Also feeding the information online would consume more time and may result in delay in delivery of orders. He urged the government to withdraw the orders; else they would launch a protest.

Fibre2fashion News Desk - India

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