Excelsior Correspondent
JAMMU, Feb 14: A meeting of Associated Chamber of Traders Federation was held today under the chairmanship of its president Yash Paul Gupta to discuss annual budget presented by the Finance Minister, A R Rather.
The president appreciated Finance Minister for not imposing any new tax and again keeping essential commodities in 0%, raising the audit limit from Rs 60 lakh to Re 1 crore as demanded by the ACTF in the Pre-Budget meeting.
The members present in the meeting were of the view that since it was an election year a lot more was expected from the Finance Minister vis-à-vis demands raised by Federation.
The Fedreration had demanded for raising the exemption limit was from Rs 7.5 lakh to Rs15 lakh but Government agreed to only upto Rs 10 lakh. Similarly the annual turnover was demanded from Rs 20 lakh to Rs 50 lakh and rate of tax .5% but agreed upto Rs 25 lakh only.
Similarly demands were raised regarding Dry Fruits such as Choara, kishmish, kaju, pista, anjeer, khumani, alu bhakhara, chalgojay etc. from 13.5% to 5% ; Electrical Items: PVC copper wires and PVC pipes from13.5% to 5%; Plywood and plyboards from13.5% to 5%; Whole milk powder (Baby milk powder) and Desi Ghee. From 13.5% to 5%; Lamination film used in offset printing press from13.5% to 5%; Suraksha Hose (Used in LPG chula’s with gas cyclinders) from13.5% to 5%; File covers, chalk. from13.5% to 5%, and Sweet meats (Mithai) from13.5% to 5%.
Members also showed their serious concern that no provision has been kept in the budget for creating new parking slots, shopping complexes, commercial centers, residential colonies etc. which needed immediate attention from the Government to decongest Jammu city, and members also hoped that genuine issues will be addressed by the Finance Minister to fulfill the aspirations of the trading community in particular and common man of J&K State.
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