With value added tax (VAT) facing all industry segments, the non ferrous metals industry was also gearing up to face the challenges that will emerge as a result of this policy implementation.
Clarifications have already been sought along with doubts regarding the policy implications with regards to other states.
An employee from Hindalco, a company that manufacturers aluminium as well as copper, said that it was still not clear as to the hows and whys of the policy. A spokesman of Sterlite said it would be too early to comment.
Ashok Bafna, president of the Bombay Metal Exchange while welcoming the decision to implement the VAT, has expressed concern over the powers that the inspectors have been given as far as inspection over the VAT is concerned, calling them