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3:16 pm - Sunday January 21, 8429

Subsidies, tax rebates demanded in Union Budget-2018

Chronicle Reporter, Ujjain

Traders, industrialists and intellectuals demanded various perks in the form of subsidies and tax rebates in the Union Budget-2018 during a pre-budget symposium organised by the Member of Parliament (MP) Chintamani Malviya at Hotel Ujjayini on Wednesday.

Tax consultant PK Dass, Utensil Traders Association president Vijay Mittal, Daulatganj Grocery Association president Sanjay Agrawal, Central Chamber of Commerce and Industries president Manaklal Giriya, entrepreneur Ateet Agrawal, chartered account Jitendra Thani were prominent among those present.

During the symposium, representatives of various organisations echoed their submissions against the GST. They demanded that a rebate in GST should be given to micro and small industries and terms of finances should be simplified.

Likewise, a special package was sought to encourage digital payment. Suggestions were given to reduce service tax on life insurance and coaching classes.

Issues like simplification of license process for trading, subsidy on use of biological manure and solar energy equipments, etc, were also raised. The participants demanded in unison to raise income tax limit up to Rs 2.50 lakh to Rs 4 lakh.

Responding to various queries, income tax commissioner SS Solanki and joint commissioner Gopal Porwal described the GST as highly beneficial for the traders.

The MP, who is hosting the symposium for past three years, said all suggestions and demands will be presented before the Union finance minister Arun Jaitley in Delhi.Like previous years, such suggestions and demands are most likely to be addressed, he hoped.

Posted in: Madhya Pradesh

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