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CPI(M) meet to demand withdrawal of CENVAT

By Our Special Correspondent

CHENNAI, JUNE 29. The Communist Party of India (Marxist) will organise a State-level conference in Erode on July 4 to demand the withdrawal of the Central Value-Added Tax (CENVAT) and the excise duty on hank yarn, being used by handloom weavers.

The state president, N. Varadarajan, in a statement here today said that after the introduction of CENVAT, thousands of small manufacturers in Erode, Namakkal, Karur, Salem and Coimbatore districts were affected as they as they had to pay 10 per cent extra tax for goods sold to other states. Handloom industry had come to a standstill due to excise duty on hank yarn. Along with this, the Central Government withdrew incentives to exporters affecting their exports.

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