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The
Minister said that the need to amend the act was
vigorously felt since long because the traditional method
of realizing tax was eating the vitals of common people
interests owing to its check and accountability loop
holes.
He
said the VAT system has benefited Consumers, Tax
collectors and Tax Payers equally.
Adding
that they no longer come across unfair market competition.
Karra
also praised the Trader community for full co-operation
and support which helped the government to become one of
the best States to implement VAT regime in the country.
Expressing
satisfaction that almost all budget pronouncements have
been implemented in letter and spirit, Karra called for
disseminating the knowledge of VAT among the people and
also about the welfare measures taken up by the government
for their all round development.
Source
: Etalaat - Srinagar,Jammu and Kashmir, India, dated
23/11/2007
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