Taking cognisance of representations received from various trade associations, Delhi finance minister Dr A.K. Walia on Tuesday stated that the city government is committed to provide a trader-friendly Value Added Tax (VAT) mechanism.
The announcement has come after a study of various requests from different trade associations to reconsider the 2004 Delhi Value Added Tax, confirmed Delhi government officials.
While announcing a proposal of trader-friendly VAT, Dr Walia made it clear that the government is aware of the problems being faced by the trading community as they have no immediate infrastructure to upgrade their set up with Computerisation and Management Information System (MIS).
Dr A.K. Walia also pointed out that the government will reconsider those particular amendments to the act which are creating obstacles in proper enforcement of DVAT Act, 2004 and are being objected by the trader community due to the difficulties being faced by them in filing returns accurately.
The city government officials also added that the Delhi government has always been in favour of simplification of procedures and transparency in department of trade & taxes.
“It may be recalled that the government had framed certain rules under the DVAT Act, 2004 and notified them,” said Dr Walia.
“Since the trade associations have expressed their inability to adopt the amended procedure, it has, therefore, become appropriate to reconsider certain amendments. After due considerations and finalization of suitable required modifications, the issue may be placed in the Legislative Assembly and further sent for the assent of the lieutenant governor,” added Dr Walia.