Gujarat industries want VAT regime 'at earliest'

VADODARA: Federation of Gujarat Industries (FGI) has said value added tax would ensure sustainable growth rate of Gujarat and the government should implement the system at the "earliest possible".
"We have demanded earliest possible implementation of VAT and requested the government to take a lead in the country by implementing the system", FGI president Ram Devidayal said on Saturday.
Union Finance Minister Jaswant Singh had said in Parliament the implementation of VAT might be deferred.
Devidayal also described Gujarat Chief Minister Narendra Modi''s recent meeting with foreign diplomats and dignitaries as "great success" and said it would help the state attract more foreign direct investment.
The FGI president demanded a pragmatic tourism policy for attracting more number of tourists to Gujarat.
Devidayal said the federation has urged for reduction in stamp duty and non-agricultural charges for industrial land purchases in state.
He said Gujarat needed a ‘permanent'' fund for expositions at industrial cities like Surat, Rajkot, Vadodara and Ahmedabad to meet the growing requirements of trade and industry.