IIA appeals to UP traders to study VAT

The Indian Industries Association (IIA), an apex body of micro, small and medium industries, has appealed the industrialists and traders in Uttar Pradesh to concentrate on various provisions of value-added tax (VAT) rather than simply protesting against it.

IIA President Parvin Sadana, referring to various newspaper reports, said that the IIA welcomes the messages and announcements made by the chief minister expressing hope that VAT would soon be a reality in UP.

Meanwhile, he also made an appeal to the industrialists and traders not to unduly protest against VAT but to concentrate on modifying its provisions so as to get rid of the difficulties that might be faced by the trade and industrial sector once it is implemented.

Sadana also urged the state government to implement the proposed simplification and modifications of VAT provisions promptly to prevent the hardships which may result from misinterpretations.

"It is also essential to unconditionally provide for the various facilities/benefits/exemptions and Input Tax Credit announced by the chief minister so that the officers are not able to apply discretion for penalising industry and trade for their vested interests," he added.

The IIA, according to him, has already studied the draft proposal of VAT Act and Rules as issued by the government and sent its feedback. The association has also started a telephone helpline to help answer any queries with regards to VAT put in by any individual.