Traders stage protest against service tax hike

Hundreds of traders today staged a protest at collectorate here against hike in service tax which was announced by the Central government for 2015-16 fiscal.

Traders, under the banner of Mahanagar Udyog Vyapar Mandal, also handed over a memorandum to the District Magistrate, addressed to Union Finance Minister Arun Jaitley.

Addressing the protesting traders, General Secretary, MUVM, Ashok Chawla said that, "Traders community is depressed over hike in the service tax from 12.36 to 14 per cent".

In their memorandum, the traders have demanded for relaxation in income tax limit for traders from 2.5 lakh to 3 lakh.