Trader-friendly VAT Regime Assured

New Delhi, July 27 | Updated: Jul 28 2004, 06:17am hrs
Finance minister P Chidambaram has assured the trading community that he would make the value added tax (VAT) more palatable and acceptable to them. The VAT regime, as per the latest deadline set by the empowered committee of state finance ministers, is to be implemented from April 1, 2005.

The National Common Minimum Programme (NCMP), which has been adopted by the United Progressive Alliance (UPA) government as its official programme, is also committed to implementation of the VAT regime. Mr Chidambaram reminded a delegation of the Akhil Bhartiya Vayapar Mandal, which met him on Tuesday, that he was bound by the NCMP.