Agra: Unable to get the refunds of Value Added Tax (VAT) for the past 20 months, the shoe export industry of Agra is reeling under acute financial crisis. JPN/Bureau
VAT is effective in Uttar Pradesh since January 1, 2008 and initially the shoe export industry of Agra was included under its ambit. Disagreeing with the government policy, the shoe exporters argued that under the industrial policy, no tax should be levied on the export commodities.
Following which the state government assured to return the VAT refund to shoe exporters. In case of delay, the entrepreneurs were assured an interest on the amount.
Shoe exporters received VAT refund for few months, after which the process was stopped. Government has not paid the VAT refund to the exporters since the last 20 months.
Leading shoe exporter, AS Rana said a local Commercial Tax authority has expressed their inability to pay the VAT refund. Whereas Principal Secretary, Durgashankar Mishra said he will discuss the issue of VAT refund with the state government.
Agra: Unable to get the refunds of Value Added Tax (VAT) for the past 20 months, the shoe export industry of Agra is reeling under acute financial crisis.