Nagpur: The Chamber of Associations of Maharashtra Industry and Trade (CAMIT) has strongly opposed the Maharashtra Government decision to increase in Value Added Tax (VAT) on various commodities.
In an emergency meeting called the other day, CAMIT discussed the increase of VAT and termed it as hasty step by State Government. “This second time increase in VAT will lead to inflation in the State and common people will have to bear the burden. CAMIT sense a fear that due to this increase in VAT the traders of Maharashtra will become uncompetitive. It will be a great hardship to the traders and industries of Maharashtra to calculate and file their monthly, quarterly and half yearly VAT returns, as the increase in VAT percentage will lead to amend the software overnight and different VAT rates in single month / quarter will lead to chaos. It seems that it is becoming a favorite pattern of government to increase Tax burden without taking traders and common people into confidence. The government should explore new methods, other than increase the tax, to generate more revenue,” CAMIT said.
“CAMIT strongly opposes this move of state government and do not understand the urgency of overnight increase in VAT percentage where GST is just round the corner,” the traders’ body said.
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Sat 21 Dec. 2024
The emergency meeting was attended by Mohan Gurnani – Chairman CAMIT, Ashok Bafna – Sr. Vice President – CAMIT, Mr. Nikunj Turakhia – General Secretary – CAMIT, Javerchand Gala, President of All India Electronics Association, West Zone, Hemant Parekh, President of Bombay Metal Exchange, Mitesh Mody, General Secretary of All India Electronics Association, Saurabh Shah, Mitesh Prajapati, Committee Members, CAMIT. Dipen Agarwal, President of CAMIT from Nagpur and Raju Rathi, Sr. Vice President from Sholapur joined the meeting through video conferencing.
