Rules Change Far Too Late
The new government should ensure that laws are no longer changed midway (‘The Task is Cut Out for FM Arun Jaitley’, ET, May 29). For instance, industry set up manufacturing units in select underdeveloped areas under the sales tax exemption scheme, then the government decided to restrict the exemption to only C form. Similarly, SEZ developers and the units inside were given income-tax exemption. Later, the government decided to introduce minimum alternate tax on all of them. It’s time this unfair practice is stopped.