labels: industry - general, economy - general, governance
VAT comes in force news
Our Economy Bureau
02 April 2005

New Delhi: Twenty states have switched over to the new value-added tax regime despite a storm of protest from the trading community and a last minute abstention by the BJP ruled states, Rajasthan, Gujarat, Madhya Pradesh, Jharkhand and Chhattisgarh along with Uttar Pradesh and Tamil Nadu have declared that they would not introduce VAT in its present form. Meghalaya will introduce the tax shortly.

After June, the VAT panel will assess the progress of the new tax regime and will review some of the rates.

Meanwhile, the Confederation of All India Traders has said that their agitation would continue.


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VAT comes in force