Decision to reduce Octroi tax rate welcomed

Port Blair
24 Feb 2017

The President of the Andaman Chamber of Commerce and Industry, Mr Girish Arora and other members have welcomed the decision of the PBMC to reduce the Octroi of 6% on Gold and 3% on Silver to 1%. The Chamber congratulates the Chairman, Mr B. Eswar Rao and all Councillors of PBMC for taking such a pro-business and pro-people decision and it will not only reduce the prices of gold and silver but also reduce the disparity in rates that existed between rural and municipal areas.  The decision will result in better compliance of tax thereby increasing the revenue to the state exchequer.  The decision of reduction in tax has also fulfilled the long pending request of the Chamber to roll back the earlier unjustified increase in Octroi on Gold & Silver, said Mr Arora.