Govt. Upsets Tax Lawyers
Tax advocates have criticised Delhi government’s order of reducing input tax credit for interstate sales under Delhi Value Added Tax (DVAT) Act.
All India Tax Advocates Forum president MK Gandhi said this notification will hurt the basic foundation of Delhi Trade. “It will disturb the distributive character of Delhi. The reversal of input tax credit will make goods costlier resulting in drop in trade,” Gandhi said.
Gandhi said the move will result in unemployment and reduction of GDP of Delhi as traders will shift to the city’s satellite towns.
Hindustan Times, New Delhi, 21-06-2012