M A I N   N E W S

Badal promises octroi abolition, rethink on VAT
Perneet Singh
Tribune News Service

Bathinda, February 5
In an attempt to woo trade and industry ahead of the Assembly poll, the SAD President, Mr Parkash Singh Badal, today promised immediate abolition of octroi and setting up of statutory state development boards for large, medium and small-scale industry on the party’s return to power.

He also promised a rethink on VAT. However, the party’s first conference for traders and industrialists turned out to be a damp squib with about 70 per cent chairs lying vacant at the grain market, the conference venue.

The former CM also vowed to amend laws relating to trade and industry as per the suggestions of their representatives. He said the exercise would aim at “complete de-bureaucratisation of trade and industry”, besides removing procedural and other bottlenecks hampering the all-round development of the state.

The party also committed itself to a single-stage taxation of goods in the state and a uniform taxation regime among various states, especially with regard to VAT, to put an end to traders’ harassment.

He said a complete revamp of the bureaucratic and political policies was bureaucratic and political policies was required to help Punjab break into the next orbit of development and prosperity. He said these commitments would be honoured in the very first Cabinet meeting after the formation of the SAD government in the state.

The former CM said fiscal concessions extended to Punjab’s neighbouring states had badly hit the state as where industries were migrating from here.

He said they would try that in the presence of VAT, other taxes like octroi, entry tax, excise duty and central sale tax were done away with.

He said the return of C Form would be made annual instead of prevailing quarterly system. New industrial focal points would also be set up.

He assured proper infrastructure, including express highways and power for trade and industry.

Earlier, representatives of various trade and industry bodies praised the party for providing them a platform to air their grievances.

Party leaders, including Capt Kanwaljit Singh, Mr S.S. Dhindsa, Mr Naresh Gujral, Bibi Jagir Kaur, Mr Manpreet Badal and Mr Sukhbir Singh Badal were also present on the occasion.