Wheels of Development under Highest Tax Bracket
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Transport Industry is reeling under the impact of economic slow down that the country is facing. The freight rates have fallen very low resulting into default by the financed vehicle owners in paying the instalments in time. Since Tyres constitutes a major portion of the truck's running cost any relief provided to this sector would help salvaging the trucking industry from a downslide of default. Relief to this industry would give a new lease of prosperity to this segment. The truck operator and car owners contribute to the state Exchequer in many a ways through different forms of levies and taxes. They deserve a better treatment by the ministry of Finance. They are the only consumers to the high priced fuel in our country. By taxing tyres at 28% the Government is going grave injustice to it's users. The wheel of the economy warrants judicious treatment by the ministry of Finance.
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