Khattar announces incentives for traders in state

: Haryana chief minister Manohar Lal Khattar on Sunday announced a number of incentives for traders, including formation of district-level traders’ advisory committees, abolition of market fee for those with annual turnover of up to Rs 5 lakh, revision of the upper financial limit for VAT/CST refund and an annual award scheme for traders who would pay maximum taxes.

The chief minister made these announcements at the ‘Virat Vyapari Sammelan’ here.

He said that district-level traders’ advisory committees would help in redressing petty grievances of traders at the district level.

He also announced that deputy excise and taxation commissioner would be competent to allow VAT/CST refund up to Rs 25 lakh whereas additional excise and taxation commissioner or other officer at the headquarters would be competent to allow VAT/CST refund over Rs 25 lakh.

The government has also decided to fix the collector rate of immovable property equal to the market rate in the state, the chief minister said. This would be implemented from April 1, 2017 so as to ensure complete transparency in the system, he added.

“The government will provide an insurance cover to the traders as well as other people in the state so that they could be brought under the ambit of social security,” he said. Under the scheme, traders will have to deposit some premium and the the government, he added.