By Sanjeev Pargal
JAMMU, Mar 5: Finance Minister Abdul Rahim Rather today proposed exemption of various items including Liquefied Petroleum Gas (LPG) from Valued Added Tax (VAT) and proposed tax extension on various other items like flour, paddy and fertilizers etc while going ahead with tax concessions to industry, hotels and tourism sectors for one more financial year (FY) i.e. up to March 31, 2013. Presenting general budget for financial year of 2012-13, which would come into force from April 1 this year when approved by both Houses of Legislature, Mr Rather announced increase in VAT on products of tobacco consumption from 25 per cent to 30 per cent, Sales Tax tag on liquor from 25 per cent to 30 per cent and brought security and placement services, pandal and shamiana services and annual maintenance contracts under the ambit of tax net. He proposed increase in the existing rate of toll. The Finance Minister proposed increase in the honorarium of Rehbar-e-Taleem (ReT) teachers from ` 1500 per month to uniform level of ` 3000 per month and hiked remuneration of Nambardars and Chowkidars from ` 501 and 500 per month to ` 751 and ` 700 per month respectively.
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