‘Revenue was not the consideration for Vat’
‘Revenue was not the consideration for Vat’
The empowered committee on Vat on Monday said that revenue was not the consideration when it started the exercise of value-added tax.
Speaking at the inter active meeting on Vat organised by the Kerala Chamber of Commerce and Industry, Ramesh Chandra, member secretary, empowered committee of state finance ministers, said, “If revenue was the consideration, there were so many alternatives.”
“We want to have same rates of Vat throughout the country. We want to have a simple transparent law which is more or less uniform throughout the country,” he said.
The committee was determined to put pressure on the Centre and ensure that next year from April 1, CST came down to 2%, he said.
Source: financialexpress.com