Excelsior Correspondent
JAMMU, Mar 10: Chamber of Traders Federation (CTF), Jammu province today submitted suggestions to the Finance Minister Dr Haseeb Drabu for the inclusion in the proposed State Budget for the year 2015-16.
The CTF delegation was led by its president Yash Paul Gupta. The members during meeting with the Finance Minister gave several suggestions for giving boost to the economy of Jammu. They said after direct train service to Katra, the business in Jammu has been affected. For the this purpose various development works like creation of artificial lake over Tawi, Gandola project to Bagh e-Bahu from Mubarak Mandi, development of Heritage site at Mubarak Mandi, development of Parks etc were taken up besides development of Mansar and Saruinsar lakes but no progress has been achieved in this regard. There is need to speed up work on these project so as to attract pilgrim tourist to these sites.
The CTF delegation also suggested to develop an extension wholesale market as extension of Kanak Mandi and another extension of Ware House Market to some other suitable location. They demanded that the rate of turnover tax on annual turnover is 25 lakhs and the tax of 1 % is levied on it. The limit be raised to Rs 50 lakhs and the rate of tax be reduced to 0.5 per cent. It was also stressed by the CTF members to raise exemption limit from Rs 7.5 lakhs to Rs 15 lakhs in view of inflation.
The delegation also stressed the need to have uniform tax structure, lifting tax from some items used by common masses, reduce tax on some items from 13.5 % to 5 %. Some of the items suggested under the category are- baby milk powder, whole milk powder, Desi Ghee, LED bulbs (energy savers), PVC copper wire, PVC cable, PVC pipes, ply wood/ boards, tower bolt, handle, hinges, power tool, sweets, dry fruits etc.
They also suggested that the items covered warranty may not be again charged tax for replacement, diversion of automobile trade in CSD sale, amnesty for inadvertent defaults, organizing interaction and awareness programmes by IT/ST authorities and fire crackers trade should not be allowed to the people who do not possess license.
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