Gwalior, June 30 : Madhya Pradesh Commerce and Industries Minister Babulal Gaur has warned traders to reduce prices of commodities in view of relaxation in various forms of taxes after the implementation the Value Added Tax (VAT) in the state.
''Fifty-three products were made tax-free, while tax had been reduced from nine and 12 per cent in 123 products to four per cent.
Similarly, tax on gold, silver and jewellery had been brought to one per cent,'' Mr Gaur told reporters here yesterday.
He said the government intended to benefit public directly by reducing taxes but complaints were being received that prices had not been reduced.
Mr Gaur warned that relaxation in taxes would be reversed if prices were not reduced within one month besides fine being imposed on guilty businessmen.
He pointed out that businessmen must essentially provide a receipt in case of sale of products with a price of at least Rs 100.
A fine of up to Rs 10,000 could be imposed in case of non-compliance.
Criticising the Centre's proposal to reduce taxes to control price of petroleum products, he said a policy should be made on national level in this regard.
A meeting of Chief Ministers and Finance Ministers of various states with the Centre must be called to frame an effective policy.
He added that the price of petrol was increased by Rs 14 per litre in the past two years of the Congress rule.
UNI
''Fifty-three products were made tax-free, while tax had been reduced from nine and 12 per cent in 123 products to four per cent.
Similarly, tax on gold, silver and jewellery had been brought to one per cent,'' Mr Gaur told reporters here yesterday.
He said the government intended to benefit public directly by reducing taxes but complaints were being received that prices had not been reduced.
Mr Gaur warned that relaxation in taxes would be reversed if prices were not reduced within one month besides fine being imposed on guilty businessmen.
He pointed out that businessmen must essentially provide a receipt in case of sale of products with a price of at least Rs 100.
A fine of up to Rs 10,000 could be imposed in case of non-compliance.
Criticising the Centre's proposal to reduce taxes to control price of petroleum products, he said a policy should be made on national level in this regard.
A meeting of Chief Ministers and Finance Ministers of various states with the Centre must be called to frame an effective policy.
He added that the price of petrol was increased by Rs 14 per litre in the past two years of the Congress rule.
UNI
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