Delhi Chief Minister Sheila Dikshit announced a steep hike in the value-added tax on several items. The Government has increased VAT from four per cent to five per cent on 120 items. This includes certain foods which will help them to mop additional resources up to 500 crore (INR). While addressing the concerns of common man and different business groups, Delhi Chief Minister Sheila Dikshit said that VAT will not affect common man but only the elite group of customers who can afford luxury goods.
She assured that VAT will be only on luxury goods such as cell phones worth probably 10 lakh and above and designer pen worth around Rs. 5 lakh or more which a common man cannot afford. She further said that this will not affect businesses as a person who can afford such luxury goods will not hesitate to pay a little extra on VAT. Since the entire list is not finalized it’s expected to be announced during the budgets in March 2010.
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