Quotes & Unquotes for VAT in India

India, always a land of 'YES' and 'NO'. The introduction of VAT in India also reciprocated with different views for different people. Each and everyone carried their own say. Few quoted VAT in India as something very wonderful and needful for the existing tax system. Others quoted the opposite. Many were neutral and waited the system to speak the truth. Let me bring for you few of the Indian VAT quotations.

Chidambaram to state governments

"On behalf of the Centre, I promise to fully cooperate with you, compensate you and help in building a computer network system and resolve all problems."

Ramesh Chandra, secretary of the federal panel

"VAT will be launched tomorrow (April 1) and there is absolutely no question of deferring it."

Praveen Khandelwal, secretary-general of the Confederation of All India Traders

"We will step up our protest come what may. It is a do or die situation for us."

It is the credit for tax paid on inputs. Every dealer has to pay output tax on the taxable sale effected by him. The basic formula of VAT is that every dealer pays tax only on the value addition in his hands. In simple words input tax credit is the mechanism by which the dealer is enabled to set off against his output tax, the input tax. Dealers are not eligible for input tax credit on all inputs. There are certain restrictions and conditions on the eligibility of input tax credit as it is stipulated in the respective State legislation.

Former finance minister Yashwant Sinha

"The central government must also spell out a clear roadmap on how and when it intends to phase out central excise."

Onkar S Kanwar, president, FICCI

"We urge the BJP to reconsider their decision and work with their states governments on internal mechanisms aggressively while coordinating with the Centre to iron out the genuine difficulties."

Bengal finance minister Asim Dasgupta, Kajaria

"The FM is sacrificing the interest of all sections for the gain of none."

World Bank country director Michael Carter

"A comprehensive VAT widens tax net, as it makes tax evasion difficult. Going by the experience of other countries, VAT has proved beneficial and leads to revenue buoyancy."

Ramesh Chand, a protestor

"Traders want to give tax but they want it through a system which makes it easier and fair for them and not VAT. All the traders are protesting against it. We want the government to revoke VAT."

Raja Chelliah, the architect of the VAT system

"India can be globally competitive as a fully integrated market if all states adopt the Value Added Tax regime."

Sushil Kumar Gupta, a shopkeeper in the upmarket Defence Colony shopping complex in south Delhi

"We are totally against VAT."

Vijay Goel, president of the Confederation of All India Traders and a member of the BJP

"We are from the very beginning against this tax which will co-exist with central sales tax and several others. We demand that the extra taxes be abolished before VAT is implemented."

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Keywords:

taxation, direct taxation, indirect taxation, tax planing, tax, vat, value added tax, vat in india, quotes and unquotes