PHD Chamber welcomes VAT reduction by Punjab

Chandigarh, Jul 17 (UNI) The PHD Chamber today welcomed the Cabinet approval on its suggestion regarding VAT reduction on CFLs, Desi Ghee and sweetened milk from a whopping 12.5 per cent to 4 per cent.

Mr Rajiv Bali, Chairman, Punjab Committee, PHD Chamber, while welcoming the Cabinet approval to the amendment in the Punjab Entry of Goods into Local Areas Act, which would now include items like iron and steel, said, ''It would provide the industry with the most sought for relief.'' However, the Chamber is hopeful that the suggestions for simplification of procedures on the pattern of Central Excise; and the introduction of Form 36, among several others, shall too be given due consideration further in the interest of the industry, Mr Bali added.

A delegation of the PHD Chamber had called on Chief Minister Parkash Singh Badal on April 11 to discuss various issues regarding industry in the state. This meeting was a sequel to the earlier meeting with him in March to discuss the issues submitted to the CM by the PHD Chamber with a view to remove the bottlenecks and pave the way for higher growth rate.

The assurances given by the Chief Minister in the two meetings were approved by the state Cabinet yesterday, Mr Bali said.

UNI HS SG HT1705