Roll-back: Haryana okays VAT concessions
Roll-back: Haryana okays VAT concessions
The Haryana government on Saturday announced exemption from levy of VAT from four more items and reduction in rate of VAT from 12.5 per cent to four per cent on another 15 items with effect from January 1, while at the same time reiterating that it will still achieve the target of a 16 per cent increase in revenue and tax collections from Rs 6,000 crore in 2004-2005 to Rs 7,000 crore during the current financial year.
Addressing mediapersons after presiding over the second meeting of the state level consultative committee, excise and taxation minister Venod Sharma claimed that the level of confidence of trade and industry on the department had improved dramatically since the Bhupinder Singh Hooda government took over reins of power in the state.
The level of simplification in procedures could be gauged from the fact that 87,329 cases of sales tax out of a total of 1,10,594 for the year 2003-04 had been deemed assessed without calling the dealers to offices, he added.
He also said that the limit for use of single VAT D-3/ST-38 for movement of goods had been increased from Rs 10,000 to Rs 25,000 both for inward and outward movement with effect from November 1, 2005.