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.
The activists entered the AIIMS premises raising slogans for immediate action against the students who performed the Ramlila skit. They tried to break into the AIIMS hostel, but were stopped by the police who took them outside the AIIMS premises.
Two gold bars, of 3 kg each, of 24 carat purity, and worth Rs 2.96 crore, were concealed in two rechargeable lights. The officials, who searched the baggage of a passenger arriving from Dubai by flight EK 524, found the two emergency lights. On suspicion, they opened the lights and found the bars kept inside the rechargeable batteries.
The former Punjab CM also said that he is hopeful of a seat-sharing arrangement with the BJP for next year's Assembly elections in the state, if the farmers' issues are resolved in their interest.
According to the firm, the event will provide an opportunity to the game developers, publishers and creators across India to build, grow their communities and monetize on Facebook.
Suggesting Kejriwal to keep himself up to date, the minister said the state government has already executed the Punjab Anti-Red Tape Act of 2021 to promote effective administration of public affairs through simplified and trust-based procedures that shall expedite processes and make governance efficient.
A senior party functionary said that the fact that the BJP has never been in power in Punjab on its own, this time the party is leaving no stone unturned and the central leadership is regularly reviewing the poll preparedness of the state unit
