Dhaka: Finance Minister AMA Muhith and top business leaders on Sunday had a heated debate at a meeting over the implementation of the new VAT law.

Amid chaos over the issue during the meeting of the consultative committee of the NBR, FBCCI Director and Business Unity Council leader Abu Motaleb cautioned the government not to move ahead with a law which is not 'enforceable'.

"Please don't proceed with such a law which you cannot implement. If you move with such a law, we'll be compelled to go for a movement," he told the meeting.

In response, the Finance Minister issued a counter warning, saying the government will not spare those will be trying to create any chaotic situation. "This is a threat to the government. If you go for a movement, we'll resist it," he told the business leaders.

At one stage, the entire meeting plunged into a pandemonium when the businessmen started shouting from the back seats.

Finally, FBCCI President Abdul Matlub Ahmed and NBR Chairman Najibur Rahman brought the situation under control.

The National Board of Revenue (NBR) arranged the meeting at Bangabandhu International Conference Centre to discuss the proposals placed by different trade bodies to the government ahead of the upcoming national budget for the fiscal year 2017-18. NBR Chairman Najibur Rahman presided over the meeting.

One of the main topics of the meeting was the implementation of the VAT Act 2012 which was passed in Parliament in 2012 but yet be enforced because of the strong opposition from the business community, especially the trade bodies like FBCCI.

At the meeting, Motaleb alleged that as per suggestion of the International Monetary Fund (IMF), the government is proceeding with the new VAT law under which businesses will have to pay a flat 15 percent VAT.

"The IMF suggested training up businessmen well about the new law, but the NBR didn't take any such initiative in this regard," he said adding the government should not proceed with the new law without proper training on how to maintain electronic cash register.

He said the government's move to implement the new VAT law will force the business community to take to the streets like students who last year resisted the government's move to slap VAT on educational institutions. "So, don't force us to take to the streets."

Apparently irked by the FBCCI leader's statement, Muhith said businessmen may go for a movement. "But, the government won't allow any movement."

He also raised a question about the businessmen's contributions to the national exchequer. "You are 800,000 small- and medium-scale businessmen who submitted income tax returns. But only 32,000 are paying income taxes," he told the business leaders.

The Finance Minister said Motableb's speech was not acceptable as he issued a threat to the government. "This is not a forum to utter such words that you are in a war. This is not fair."