VAT To Put Weight on Delhi Wood and Panel Trade26/03/2010
The Delhi governments finance minister, Mr A K Walia unveiled a budget on 22nd march that hiked taxes on 32 products to get additional revenue generation of Rs.850 crore. Many wood based products including wood and furniture got an added percentage that rose from 5% to 12.5%. The proposed increase on VAT from 5% to 12.5 % on wood, plywood, laminated boards, household plastic goods, locks, furniture, door & window fittings, fibre & plastic boards, wire & metal mesh is going to make things trickier for the wood and panel trade in Delhi and will also affect the manufacturers working style with Delhi.
Earlier the VAT was 4 % on various items except decorative laminates which was at 12.5 % vat. Delhi enterprise and traders