Aam Aadmi Party chief Arvind Kejriwal on Sunday promised to rationalise the Value Added Tax (VAT) in Delhi, if his party came to power.At a fundraising lunch organised the party’s traders wing at the national capital here, AAP collected Rs 50 lakh. Addressing traders, Kejriwal promised to rationalise VAT on products, which were higher in states, especially neighbouring ones, saying this will help consumers and traders, both of whom were unhappy with the arbitrary manner it was currently calculated without a proper rationale and proposed to initiate online payment of taxes.The party collected Rs 50 lakh from the event, while a similar event held in Mumbai last Thursday fetched Rs 91 lakh, taking the total to Rs 1.41 crore in just two such events. Entry fee for the event was Rs 20,000.AAP plans to hold similar high-cost meals in the national capital and Bangalore, and attempts are being made to hold one in Kolkata. The party has set a target of Rs 30 crore for the Assembly elections.Outlining the party’s vision for traders of Delhi, Kejriwal said his party wanted to make the national capital a trading powerhouse by creating a traders friendly environment.”AAP will abolish raids by VAT department inspectors which are carried in the name of sudden visits. Tax collection from traders cannot be coercive, since it is counter-productive and leads to more tax evasion.Traders have to be encouraged to pay taxes on time by providing incentives and the AAP government will abolish all coercive measures currently used against traders,” he said. Kejriwal added that his party will give priority to revive the wholesale business in Delhi and will make all possible efforts to turn the national capital into a retail hub. The party will soon unveil its plan to encourage the wholesale distributive character of the national capital.

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Arvind Kejriwal promises VAT rationalisation in Delhi; party nets Rs 50 lakhs