FINER appreciates measures to strengthen tea sector

GUWAHATI, March 19: The Federation of Industry & Commerce of North Eastern Region (FINER) has organized an interactive session on post Assam Post Budget 2015-16 with Dr Ravi Kota, Commissioner & Secretary, Fince and Commissioner Taxes, Government of Assam, on Wednesday here.

RS Joshi, Chairman, FINER, welcomed the gathering and thanked the State government for implementing few suggestions put forward by FINER in the State Budget 2015-16 like exemption of entry tax on plant and machinery, granting of industry status to hotel business, diversion of trade, a vomprehensive tea policy, exemption of tax for agricultural commodities.

The budget announcement by the government to create a state of the art IT-ebled taxation system with online tax compliance facilities where there is minimum contact between the tax payers and the tax collecting officials is a very welcome step and shall encourage tax compliance. This proposal shall ensure ease of business in the true spirit and arrest leakages.

Given the importance of the tea industry in the State in the field of employment generation and total contribution to the economy of the State, several measures have been announced to benefit the sector, amongst which, the extension of benefit of agricultural income tax for exports from ICD, Amingaon for a further period of three years is a  welcome step. This was stated in a press release.