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Association urges abolishment of multi-tax system

November, 07th 2011
In the meeting of Punjab Tax Bar Association (PTBA), the members urged the Centre and state government to abolish the multi-taxing system. President of the body, Ashok Juneja, and B R Kaushal, General Secretary of the association said that when VAT was incorporated in 2005, the promise was to streamline multi-taxing system, but it is yet to happen. The members said that before finalising goods and services and direct tax code the leaders of bar associations, trade and industrial associations should be taken into confidence. Rajpaul Gupta, Vice-President and Lalti Takyar, secretary general PTBA said that income tax rates in India should be brought down to 20 per cent and indirect taxes should also be reduced.