Gujarat Govt urged to revoke cut on VAT input tax credit

摘要

In an attempt to reduce the cost of goods and tough competition from neighbouring states, Gujarat-based traders and manufacturers have requested the state government to take back its amendment of imposing a 2 percent cut on VAT input tax credit.rnGujarat chapters of Confederation of All India Traders (CAIT) has informed the state government that, the industries involved in textile machine manufacturing, machine tools, synthetic fabrics, chemicals and the like will be adversely affected, owing to cut in the input tax credit.