Industry & Economy
-
Taxation
Inputs paucity in `non-VAT States'
Our Bureau
NEW DELHI: Assocham on Monday said manufacturers in States which have not switched over to VAT have begun facing shortage of raw materials due to confusion over billing of goods between VAT and non-VAT States.
The confusion has instigated raw material suppliers in VAT implementing States to hold back their stocks for manufacturers in non-VAT States, the Chamber President, Mr M.K. Sanghi, said in a release.
Based on the feedback collected by Assocham from its constituent chambers in States, the manufacturing industries facing shortages include textiles, engineering, consumer goods and automobiles, he said.
A large number of manufacturers in the north have complained of raw material shortages on account of confusion on billings for goods between VAT and non-VAT States.
As a result, monthly production targets of industrial units in Uttar Pradesh, Himachal Pradesh, Uttaranchal, Rajasthan and Madhya Pradesh might get affected, he said and asked all the States to adopt the new tax system without any delay.
Article
E-Mail
::
Comment
::
Syndication
::
Printer Friendly Page
|