TAMIL NADU BUDGET - 2009-10

Prof. K. Anbazhagan, Minister for Finance,Government of Tamil Nadu, presenting the Budget for 2009-2010 to the Legislative Assembly on 17th February,2008, has announced the following tax concessions/reduction in rate of tax, in the tax free budget.

TAX EXEMPTIONS

Pepper and Cumin Seed ( Subject to Turnover Limits).

Pulses, Grams, Peas and Peas Dhal will be exempt from levy of purchase tax with effect from 1.1.2007. 

Hand-made Steel Trunk Box

Handmade Tin Containers

REDUCTION OF TAX TO 4%

Branded Ghee  

Branded pickles

Hand-Made Iron Safe  

Dried Grapes  

Bleach Liquid

Paper Pin, Safety Pin, Gem Clip, Identity Card Clip, Examination Board Clip, Rubber Band and Stapler Pin. 

I-pod, MP3 and MP4 players

REDUCTION OF TAX TO 1%

Sale of Sago and Starch through Salem SAGOSERVE

To enable brick manufacturers to pay tax in a simple manner, tax will be levied on the basis of number of kilns, at the option of the dealers.

ASSESSMENT OF DEALERS WITH TO BELOW THRESHOLD LIMIT DURING THE PERIOD JANUARY - MARCH 2007

The assessment for the 01/01/2007 to  31/03/2007  will be made under Tamil Nadu Value Added Tax Act (TNVAT Act) treating the total turnover for the year 2006-2007, including the turnover under TNGST Act, from 01/04/2006 to 31/12/2006 as annual total turnover under TNVAT Act. This assessment will be made only on dealers who have collected VAT during the above period.

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 will take effect from 01/04/2009. These concessions will entail a loss of revenue of Rs.100 crores.

Click to download Budget Speech in English and Tamil