HYDERABAD, June 25: The member, Central Board of Revenue (CBR), sales tax, Shahid Ahmed has said that government was trying to make tax system transparent, and said that textile, sports, carpet and surgical items had been brought under zero rating for the first time.
Addressing the members of Hyderabad Chamber of Commerce and Industry (HCCI) on Friday, he said that manufacturers filing their returns by June 30 would be given refund. He urged the traders to complete their data without delay. “We want to get rid of carry forward system that has been abolished the world over. We want to strengthen the system, therefore, members of chamber must disseminate information regarding tax”, he said. He said that excise officials would not be deployed in industrial organizations. He said that government wanted to provide facilities to traders and industrialists in the light of international laws.
HCC&I president Mahmood Ahmed in his address of welcome described budget 2005-06 as revolutionary because long standing demands of business community had been accepted. He said that present government had put the country on the path of economic development.
