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TAMIL NADU BUDGET - 2010-2011

Prof. K. Anbazhagan, Minister for Finance, Government of Tamil Nadu, presenting the Budget for 2010-2011 to the Legislative Assembly on 19th March, 2010, has announced the following tax concessions/reduction in rate of tax, in the tax free budget.

TAX EXEMPTIONS

Powders of Pepper, cumin seed and aniseed with same condition on turnover limit as applicable to Pepper, cumin seed and aniseed. Besides, there will be no levy of purchase tax on the inputs (raw materials).

Aloe Vera products whose aggregate annual ( to dealers annual turnover does not exceed Rs.one crore in a year.)

Imported Sugar (exemption will be granted on imported sugar for a period of one year to contain the open market price.)

fuel manufactured out of municipal solid dry waste

bio-degradable goods viz plates, cups, including thonnai manufactured out of areca palm leaf

Palmyra rafters used as beams in huts and small houses

Ice bars/blocks

levy of tax on sale or purchase of Zari excluding polyester film yarn and radiant yarn.

REDUCTION OF TAX TO 4%

Branded coffee powder (other than instant coffee).

Paint brush

Branded sweets and savouries

Knives, scissors and tailoring items such as hand needles, hooks and buttons

Branded ready mix food products ( in the form of flour, powder or wet dough)

 

PROCEDURES UNDER TNVAT ACT TO BE SIMPLIFIED.

The details of such amendments will be announced when the Demand for Grant of the Commercial Taxes Department is taken up. The announcement of tax exemptions and reductions made now, with effect from 1.4.2010.

Click to download Budget Speech in English and Tamil

 

Budget Notifications

 

Notifications have been issued to give effect to the announcement in the Budget Speech for reduction in rate of tax of the following goods with effect from 01/04/2009  except the Exemption on the purchase of peas, peas dhal, pulses and grams which is effective from 01/01/2007.

Reduction of tax to 4%

(1) Ghee with brand name

(2) Pickles with brand name

(3) Hand made iron safe

(4) Dry grapes (kismis)

(5) Paper pin, safety pin, gem clip, identity card clip, examination board clip, rubber band and stapler pin

(6) Information Technology products, namely, i-pod, MP3 and MP4 players

 

Exemption on the sale of Pepper and Cumin Seed

 

Exemption in respect of tax payable on the sale of pepper and cumin seed by any dealer whose total turnover in respect of those items does not exceed rupees three hundred crores in a year has been notified with effect from 01/04/2009.

 

Exemption on the purchase of peas, peas dhal, pulses and grams

 

Exemption in respect of tax payable by any dealer on the purchase of peas and peas dhal specified in item 67 and pulses and grams specified in item 68 of Part-B of the Fourth Schedule for use in the production of goods like flour has been notified with effect from 01/01/2007.

 

Reduction of tax to 1%

 

Reduction of tax to 1%  on the sale of sago and starch through the Salem District Starch and Sago Manufacturers Service Industrial Co-operative Society Limited, Salem (SAGOSERVE) has been notified with effect from 01/04/2009.

 

Amendments to Entry 41 - Part B Schedule IV

 

The following goods has been inserted with effect from 01/04/2009 under the Part B of Fourth Schedule

 

41 - A  Handmade steel trunk boxes
41 - B  Handmade tin containers
 

 

Exemption on the sale of Bleach Liquid

 

Exemption in respect of tax payable by any dealer on the sale of bleach liquid.

 

    Click to view/download GO. Ms. No. 67 dated 21/05/2009

 

    Click to view GO. Ms. No. 68 dated 21/05/2009

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