Southern States - Karnataka   

Official allays fears about VAT

By Our Staff Correspondent

BELLARY Feb. 26. Value Added Tax (VAT), a consumer-friendly system of taxation, will come into force from April 1, Kotresh Kudremoti, Additional Commissioner of Commercial Taxes, has said.

He was delivering the keynote address at a seminar on VAT, organised by the Bellary District Chamber of Commerce and Industry at Raghava Kala Mandir here on Wednesday.

Mr. Kudremothi said the new system of taxation, which was simple, was being introduced to ensure a uniform rate of tax throughout the country, and all States were ready to implement VAT. Taxes would be levied on a band of commodities. Under it, tax would be levied at every stage on the incremental value only. The consumer would know the actual price of the produce and the amount of tax he was paying.

According to him, the new system of taxation was a kind of self-policing mechanism which reposed faith in the dealers. "We repose faith in you (dealers) and you comply with the rules. The new system ensures less interference from the department.

When you file the returns, it is deemed to have been accepted. In the event of any doubt, the officials, that too, with prior permission of the Commissioner, can conduct an inspection. Therefore, the new system is easy," he said.

Mr. Kudremoti said the department was thinking of introducing online registration. The department was fully geared to implement the new system of taxation, he said, and appealed to the dealers to adopt VAT.

He said the officials were touring the State to create awareness and educate people by participating in seminars and symposia on VAT and dispelling the myths and misconceptions in the minds of the people.

He said a VAT Cell help-desk had been opened in all offices to educate people. People had welcomed the introduction of VAT and so also the officials. A couple of officials presented papers on various aspects of VAT during the technical session, which was followed by an interaction session. B.S.Arunkumar, FKCCI Vice-President, Bangalore, inaugurated the seminar. J.C.Sunkaiah Gupta, President, Bellary District Chamber of Commerce and Industry, presided over the function.

B.S.Arunkumar, FKCCI Vice-President, B.T.Manohar, Chairman of the State Taxes Committee, FKCCI, Chandrashekar Choudhary, Sectretary, Bellary Chamber of Commerce and Industry, Chikkanna, Joint Commissioner of Commercial Taxes, spoke.

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