Giving a relief to traders, Punjab Deputy Chief Minister Sukhbir Singh Badal today laid the basis to end 'Inspector Raj' by launching 'Rahat Scheme' under which businessmen may opt for lump-sum tax.
Launching this scheme at a rally of traders from the Malwa region at Maur Mandi in this district, he said "it is an attempt to provide suitable and congenial atmosphere to traders where they can run their business activities without any fear and hassle".
He said that "we believe in freedom of doing business activities that let the traders do what they can do the best."
The new relief scheme has been launched for 74 cities and towns in which 24 cities falls in tier-1 and remaining in tier-2 and tier-3.
Under this scheme, traders may opt for lump-sum tax ranges from Rs 0-25 lakh to Rs 1 crore business.
Any trader who have turnover between Rs 0-25 lakh would have to deposit Rs 5000 as lump-sum tax whereas from Rs 25-50 lakh, it would be Rs 10,000.
Besides, from the range of Rs 50 lakh to 75 lakh, the lump-sum tax have to be paid Rs 15,000 and for one crore turnover it would be Rs 20,000.
He also announced that to end the red-tapism and Inspector Raj in the state, officials of Excise and Taxation Department would not be entitled to inspect the records or shops of traders registered under the new Rahat Scheme.
"If any kind of irregularity noticed by any dealer, than commissioner could allow the inspection of concerned trader", he added.
He said that "the aim behind the new scheme is to simplify the procedure of trade and business in the state".
A helpline and an email has also been launched for traders to file their complaint in this regard.
On the fall in revenue due to new policy, the Deputy Chief Minister clarified that it would give a big push to revenue receipts of the state as more and more dealers would come forward to register themselves under new scheme as nearly 80 per cent dealers were not paying the single penny as a VAT to the state.
Talking about the success of VAT refund fund scheme implemented by the Punjab Government few months back, Deputy Chief Minister replied that in one month VAT refund has been fallen to Rs 350 crore from Rs 450 crore.
To give the relaxation to other units on the lines of Iron and Steel Industry, he said that "I am open to any suggestion put forth by the other industrialists".
