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TAMILNADU STATE BUDGET 2015-16 CHANGES IN VAT

Value Added Tax - VAT and CST - By: - KAMARAJ RENGARAJ - Dated:- 30-3-2015 Last Replied Date:- 11-4-2015 - Introduction: In order to boost the manufacturing sector bogged down by negative sentiments, the State Government has come forward with some re .....

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the Appellate levels/Higher Forums as to whether the reversal of Input tax credit is applicable for manufacturing sectors for interstate sales with C Forms but in the current budget, the said proviso is withdrawn. A big relief to the industries as a .....

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redit 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to section 19(2) (v) of Tamil Nadu Value Added Tax Act 2006, which was introduced with effect from 11.11.2013 will be withdrawn henceforth to make the ma .....

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tate sale of goods without C form. This measure will eliminate additional burden on the dealers effecting inter-State sale of goods without C form. d) Fishing accessories like fishing ropes, fishing floats, fishnet twine, fishing lamps and fishing sw .....

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l be reduced from the present levy of 5% to 2%. h) VAT on LED lamps of all kinds will be reduced from the present levy of 14.5% to 5% to encourage the use of energy saving devices. i) VAT on air compressors, pump sets up to 10 hp and their parts ther .....

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