Date:17/01/2006 URL: http://www.thehindubusinessline.com/2006/01/17/stories/2006011701941901.htm

Back TN Chamber plea on VAT

Our Correspondent

MADURAI: The Tamil Nadu Chamber of Commerce and Industry has appealed to the Chief Minister to implement value-added tax (VAT) in the State from April 1. In a pre-budget memorandum for the interim budget for 2006-07, the chamber pointed out that as the rates of tax under the VAT are comparatively lower than the prevailing sales tax rates on most of the products in State, inflating the cost of production by around 6 per cent, consumers especially bulk consumers, prefer to source their requirements from other States where VAT is in force.