AITWA calls for reduction in excise of MAVs to 5%, rollback FBT

Written by:
Subscribe to Oneindia News

New Delhi, Feb 25 (UNI) In a Pre-Budget Memorandum 2008 to Finance Minister P Chidambaram, the All India Transporters Welfare Association (AITWA) has called for a change in various financial parameters like excise duty on Multi Axle Vehicle's (MAV) be reduced to 5 per cent, rollback of FBT from the sector and CENVAT credit at par with the travel companies.

In a letter to the Finance Ministry AITWA Secretary Ramesh Gulati said ''Excise duty on MAV be reduced to five per cent from existing level. The use of MAV's must be encouraged because they are fuel efficient and cause least damage to Roads.'' Stating that the road transport industry is not a cash rich industry and cannot match the IT or other industries in salary structure of the employees, the association has called for an exemption from FBT provisions.

The transport companies should also get CENVAT credit at par with the travel companies.

The association said at present the last date for depositing Service-Tax collected by the Transporters is 5th day of the month. ''This is creating problem for the Transporters having multi location branches. Therefore, it is requested to change this date to 15th day of the month.'' The statement said the present scheme of National Permit is breeding corruption and the body suggested a uniform amount of Rs 12,000 per year be collected from those vehicles applying for National Permit for entire country.

''This will provide seamless movement like Railways. The detention of trucks is causing great national loss in terms of inventory carrying cost and wastage of fuel,'' AITWA said.


Please Wait while comments are loading...