Punjab exempts 1.50 lakh cases of traders from assessment
Darpan News Desk IANS, 01 Dec, 2021 01:01 PM
Chandigarh, Dec 1 (IANS) In a major reprieve to traders ahead of the assembly polls, the Punjab Cabinet on Wednesday decided to exempt about 1.50 lakh cases from assessment related to cases of 'C' form from 2014-15 to 2017-18.
Resultantly, about 8,500 such cases would now be assessed under this category every year. This trader-friendly decision would cost Rs 200 crore to the state exchequer, an official statement said.
To further boost trade and economic activity, the Cabinet meeting, chaired by Chief Minister Charanjit Channi, here also gave approval to exempt the traders from making payment of 70 per cent of the excess demand and now they would be only required to deposit 30 per cent of the surplus demand.
This decision would cost the state exchequer to Rs 940 crore. Subsequently, they would now be required to deposit the amount i.e. 20 of the 30 per cent portion of the additional demand by March 31, 2022, and the remaining 80 per cent by March 31, 2023.
Notably, the state has taken these significant decisions to facilitate traders in the wake of the recent Covid-19 pandemic.
Although it has been nearly four and a half years since the end of the VAT regime, there was still a heavy burden of VAT assessment on the traders coupled with difficulties in providing C-forms, etc., to them.
The Cabinet also approved One-Time Settlement Policy -- 2021 for Punjab State Industrial Development Corp Ltd, Punjab Financial Corp and Punjab Agro Industries Corp for settlement of dues.
The new policy will help resolving long-pending litigation and settlement between the corporations and the private investors, besides creating a more business-friendly environment in the state, said the statement.
It also approved up-gradation of Gharuan (Mohali), Rajasansi (Amritsar) and Dorangla (Gurdaspur) as sub-tehsils.
It gave ex-post facto approval for providing financial assistance of Rs 50 lakh each to the tune of total Rs 2 crore already paid by the state government to the families or legal heirs of the four farmers and one journalist who died in an incident in Lakhimpur Kheri in Uttar Pradesh in October this year, from the Chief Minister Relief Fund.
The Cabinet also accorded approval for implementation of the Chief Minister Scholarship Scheme in Higher Education for government colleges.
It would help the poor students particularly of the general category, besides helping further improving the gross enrollment ratio in higher education which is very low at present.
The scheme would involve an annual financial implication of Rs 36.05 crore.
Authorities are worried that the rise of Taliban in Afghanistan may have had a role in the emergence of India as the newest hub not just for consumption but also for trafficking of a variety of drugs.
In a big relief to commuters, the Delhi Police have started removing barricades along the Tikri and Ghazipur borders, 11 months after these were installed to stop the farmers from Haryana and Uttar Pradesh entering the national capital.
Aam Aadmi Party (AAP) national convener and Delhi Chief Minister Arvind Kejriwal lashed out at the corruption, crime and mafia rule in Punjab on Friday. He announced that if his party forms the government in 2022, Punjab will be freed from criminals, the corrupt and inspector raj.
To deal with the ongoing Covid pandemic, India's civil aviation regulator on Friday extended the ban on scheduled international commercial flights till November 30.
Modi reached Rome on Friday morning where he will join other G20 leaders in discussions on global economic and health recovery from the pandemic, sustainable development, and climate change in the first in-person summit of the G20 since the outbreak of the pandemic in 2020.
Three females farmers from Punjab died on Thursday after a speeding truck rammed into them near the protest site at Tikri border, police said. Two other women farmers were also injured in the accident which took place at around 6 a.m.
