Mr S.P. Jeyapragasam, the association's President, in a memorandum submitted to Mr Agri S.S. Krishnamoorthy, Minister for Commercial Taxes, has pleaded for a substantial increase in turnover limit for exemption in respect of edible oil, which has been reduced to Rs 5 crore from the earlier limit of Rs 500 crore, taking into consideration the steep hike in prices.

He has also requested that a new slab rate of 8 per cent be introduced in between 5 per cent and 14.5 per cent and include essential commodities which are used by common people in the slab.

Source : Hindu Business Line, India, dated 17/07/2011