State finance minister demands for tax relief for SEZs
The central government’s efforts to reform the indirect tax system were welcomed by the State finance minister of Gujarat Saurabh Patel on Monday. He argued that this would rationalize tax collection and also improve economic efficiency across the nation while speaking at the pre-budget meeting with finance ministers of all states and union territories convened by Union finance minister Arun Jaitley in New Delhi on Monday.
He also feels that the loss of revenue suffered by the states due to the introduction of Goods and Services Tax (GST) should be compensated by the Centre. His argument was in favor of the development of industries in Gujarat and he also mentioned that the states should be reimbursed for the Central Sales Tax (CST) collected by the Union government.
Patel also demanded about the need to bring about clarity on promotion of SEZ and export-oriented industries. His ministry feels that a lot of infrastructure was lying unused because some tax-related provisions had made SEZs unattractive.
Source- The Times of India
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