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VAT introduction in Tamil Nadu delayed
The Tamil Nadu minister for electricity and rural industries Arcot Veerasamy said today that the government has no immediate plans to introduce Value Added Tax in the state. This comes after the local industries in the state intensified their pleas against its implementation.
He said in a statement: “We are facing resistance from a lot of small traders. We will not be able to implement VAT immediately and we are not ‘foreclosing’ this issue.”
He further added that the Chief Minister office would consider this issue as they aim to become the most progressive region in the country. Some of the other problems faced by the government in VAT implementation are Policy, taxation, credit, marketing and technology.
Jawahar Sircar, additional secretary and DC (SSI), union government said: “Technology, economy of scale, type and mode of production, scale of production will decide what will stay in the SSI sector and what will not.”