Daijiworld Media Network – Mangalore (NR)
Mangalore, Dec 18: Federation of Karnataka Chamber of Commerce and Industry (FKCCI) president S S Patil inaugurated a seminar on “VAT Update and Service Tax” convened by Kanara Chamber of Commerce and Industry (KCCI) at the chamber's exim facilitation centre in Bunder here on Monday, December 17.
In his address he informed that a road map will be prepared for the State on how to deal with the new goods and service tax that will be implemented from 2010 in the country. He further informed that the Federation would go to different districts and listen to the views of businessmen towards the GST that includes service tax, central excise and VAT.
In the course of his speech, he even assured that since the federation is well aware of the speed of the city's development, the FKCCI would provide any help from its side for the traders, businessmen and industrialists of the region against this backdrop, he added.
L S Sharma, co-chairman of the State Taxes Committee (STC) of FKCCI said that he would urge the government to remove all check-posts which hinder the smooth movement of goods within the state. He presented a paper on 'Update on Value Added Tax' at the seminar and demanded that the government should ensure free movement of goods within the state.
According to him VAT "is nothing but a combination of indirect taxes". and said that those dealers, developers and suppliers who would engage in business with SEZ would be exempted from VAT. They need not file tax returns, since they could claim exemption, he informed.
Commercial Taxes (Mangalore) joint commissioner T C Manje Gowda, who was the guest of honour, said VAT would continue to exist until the GST was implemented. The new tax system would be implemented at two levels- state and national, he said and added that the department was yet to receive further details regarding the system.
KCCI president Kumble Narasimha Prabhu, general secretary Shekhar Poojary, office- bearers M Mohammed Bava and G G Mohandas Prabhu were present on the occasion.