Question

Identify the interests and aims of Chambers of Commerce and Industry.

• A. Transportation or inter-state movement of goods.
• B. Octroi or other local levies.
• C. Harmonisation of VAT structure.
• D. All of the above

Answer 1

The correct option is D All of the above

Interests and aims of chambers of commerce and industry:

(i) Transportation or inter state movement of goods: The Chambers of Commerce and Industry help in many activities concerning inter state movement of goods which includes registration of vehicles, surface transport policies, construction of highways and roads.

(ii) Octroi and other local levies: Octroi and local taxes are the important sources of revenue of the local government. These are collected on the goods and from people entering the state or the municipal limits.

(iii) Harmonisation of sales tax structure and Value Added Tax: The Chambers of Commerce and Industry play an important role in interacting with the government to harmonise the sales tax structure in different states.