KCCI makes recommendations for enhancing domestic trade
21 Apr '08
2 min read
Another significant proposal made by the chamber suggests setting up of a free-trade zone for facilitating trading and warehousing on an international level. Besides, it also urged the Government to increase the number of cottage industry from 5 million to 10 million.
With regard to sales tax, KCCI strongly held that a single rate of tax of 10 percent would not only promote tax culture but would also help expand the tax base. Moreover, frequent change in policies should also be avoided to bring forward clear procedure of tax payment for all the sectors.
This apart, KCCI also suggested that manufacturers-cum-exporters should be issued exemption certificates to avoid charging of sales tax on raw materials at the import level.