UCPMA discusses VAT refund issue

Author(s): 

UCPMA, Ludhiana holding meeting on VAT refund issue.

Ludhiana, May 9, 2013: An urgent meeting of the office-bearers of UCPMA, Ludhiana was held under the leadership of Inderjit Singh Navyug, Acting President in the absence of Gurmeet Singh Kular President of United Cycle and Parts Manufacturers Association on Thursday for discussion regarding VAT refund of association members.

A huge amount of VAT refunds are lying pending with department inspite of repeated request by the members. This is despite the fact that all the formalities have been completed by members.  The Deputy Chief Minister Sukhbir Singh Badal has already announced earlier that the VAT refund would be given to the members without any delay.

A delegation of the association had met the Deputy Chief Minister Sukhbir Singh Badal on April 22 in this respect. Badal had announced that the VAT refunds would be made online but the industry was still waiting their refunds, said the UCPMA release today. 

Navyug said on the instructions of the Deputy Chief Minister Sukhbir Singh Badal the department is in the process of going to divide the industry into three category for refund of money online but so far nothing has been heard in this respect and the working capital of the industry is pending with the department as the liquid cash is the need of industry which is already reeling in the global economic crises.

He sought that the refund should be made available to the industry without any verification at fourth stage of the transaction between buyer and seller which is very cumbersome for the members to prove themselves free of this condition.

The meeting requested that the pending VAT refunds of the parties should be released without any condition for which the industry would be indebted to the government.

Harjit Singh Sondh, Vice President, Pardeep Wadhawan, Secretary, Baljit Singh Lotey, Joint Secretary, Ajit Kumar, Propaganda Secretary and Achhru Ram Gupta Finance Secretary were present in the meeting.

Date: 
Thursday, May 9, 2013