The State Government should also have removed Entry Tax on raw materials and incidental goods purchased by micro and small industries for enabling them to stay on a par with industries of neighbouring States in the State Budget, stated Sunil Jain, President of Urla Industries Association.
He said that the Budget has provided impetus to business and Industrial activity. A number of steps are proposed to be taken for growth of Business and Industries in the State such as- Rates of VAT had been reduced from 5% to 4% on re-rolled Steel products.
This is a welcome step as Steel units are passing through a recessionary period. He said that the the CST had been reduced from 2% to 1% on Ferro Alloys product will also have positive impact on industries. VAT had been reduced on light Diesel oil from 14% to 5%. This move will also have positive impact on Industries, Jain said.
The traders having turn over upto Rs1 crore will have facility to file annual returns instead of quarterly returns. Earlier, this limit was Rs60 lakh and Entry Tax on cloths and sugar is being removed, he said.