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Demand rollback of VAT hike
March, 19th 2010

Traders association on Thursday demanded rollback of the state governments decision to hike value added tax on 94 goods, including non-ferrous metals, edible oils, paper and garments, from 4 per cent to 5 per cent.

In a letter to state Finance Minister Sunil Tatkare the Federation of Retail Traders and Welfare Association (FRTWA) president Viren Shah condemned the hike saying, Instead of giving concessions and reducing the tax on essential food products, the government has disappointed common people, including traders in Maharashtra.

Overall, the prices will rise in all sectors now and the worst affected will be food items and others which are used by common man on a day to day basis. We request the government to reduce the tax burden.

The steel lobby isnt happy either. The steel industry is already reeling under recession. This hike, in conjunction with others announced in the budget, is a big blow to us. The government should reconsider their move, said Jayesh Dedhia, vice president, Indian Stainless Steel Industries Association which is in the process of drafting a remonstration to the state finance department.

Rasik Kothari of Bombay Non-ferrous Metals and Scrap Merchants Association said, They are deceiving the public this way because the burden will in any case be borne by consumers.

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