Haryana budget March-2016 some suggestions

Author: CA Atul Gupta/ CA Virender Chauhan

Play Board Industry

The taxation of ply-board industry in the State is an area requiring attention.

The production data of the industry suggests that the VAT might not have been captured correctly – as a broad view, the production data for each machine in a standard factory and an average market price of Rs.40 per sq. ft. of a ply, the output value should be Rs. 6.45 Cr. while usually the factories declare less than 1.5 Cr. of turnover. bThough there is a composition scheme in Haryana for plyboard industry – tax is levied on per machine basis, our view is that there is a need to look into present taxation scheme and its appropriateness.

Leave a Reply

Your email address will not be published. Required fields are marked *