VAT amendment Bill aims at benefiting industrialists, traders: Baig
VAT amendment Bill aims at benefiting industrialists, traders: Baig
Dispelling all apprehensions regarding the benefit of remission proposed under the VAT amendment Bill, the Deputy Chief Minister, Mr. Muzaffar Hussain Baig informed the Legislative Assembly while replying on the passing motion of the Bill said that the benefit of remission would be available to entire industrial sector excepting those falling in negative list.
He said the amendments proposed to the Act have been worked out after series of meetings with trade unions, manufacturers, industrialists and others who come under the preview of the Act.
Saying that industrial policy providing incentives to the investors and industrialists for encouraging establishment of ventures in the State was operative before enactment of VAT as such amendments to accommodate the sector under remission were necessitated. He said the Act does not speak for any individual unit or industry but entire industrial sector comes under the ambit of benefit excepting those falling in negative list.
Replying to the quires by Mr. Balwant Singh who had moved amendments to the Bill, Mr. Baig said that by changing the limit already worked out with concerned unions would open a Pandora box creating unnecessary ambitions amongst traders and the matter will never rest.
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