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Tamil Nadu Budget 2015-16 Changes in VAT

Tamil Nadu Budget 2015-16 Changes in VAT - Value Added Tax - VAT and CST - By: - KAMARAJ RENGARAJ - Dated:- 30-3-2015 Last Replied Date:- 30-12-1899 - Introduction: In order to boost the manufacturing sector bogged down by negative sentiments, the State Government has come forward with some relief in electricity tax, and reversal on Input Tax credit when stocks are moved out of State in pursuance of stock transfer, interstate sales etc., in the budget presented on 25.03.2015 in the TN State Asse .....

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st to green energy producers. b) Input Tax Credit reversal imposed at the rate of 3 per cent on the inter-state sale of goods as per proviso to section 19(2) (v) of Tamil Nadu Value Added Tax Act 2006, which was introduced with effect from 11.11.2013 will be withdrawn henceforth to make the manufacturing industries in Tamil Nadu more competitive with their counterparts in the neighboring States. c) Clause (c) under Section 19(5) of TNVAT Act, 2006 will henceforth be withdrawn to enable the deale .....

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