Punjab to scrap 40,000 pending VAT cases
The Hindu
Chief Minister lists a slew of measures to boost trade and industry
The Punjab government said on Wednesday that it would scrap 40,000 pending cases on outstanding Value-Added Tax (VAT), out of the 48,000 cases related to financial years 2014-15, 2015-16 and 2016-17 against traders and industrialists.
At the Progressive Punjab Investors Summit in Ludhiana, CM Charanjit Singh Channi said the remainingcases would be settled by asking the traders to deposit just 30% of the tax liability.
Mr. Channi said that this industry-friendly initiative would go a long way in boosting morale to invest in a big way in the State and that the State Government would continue to act as a facilitator.
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