VAT: “Get relief from Centre for State government”

Welcome

<%= Session("User_Name") %>

VAT: “Get relief from Centre for State government”

The Minister for Commercial Taxes, S.N.M. Ubayathullah, has appealed to the Union Minister of State for Finance, S.S. Palani Manickam, to get the compensation due for State Government from the Centre to overcome the revenue loss due to implementation of Value Added Tax (VAT) System in the State.

He made this appeal to the Union Minister at a private function here on Saturday.

Speaking at the function in which the Union Minister also attended, Mr. Ubayathullah said that Rs.4,000 crores has to be given by the Central Government out of which Rs.3,000 crore has been given to the State Government. “Union Minister should take steps to get the remaining amount,” he said.

The Central Government has agreed to give cent per cent compensation for the year 2005-2006, 75 per cent for the year 2006-2007 and 50 per cent for 2007-2008.

Union Budget on Monday

Mr. Ubayathullah said that he used the opportunity to raise this point as the Union Budget is to be presented on July 6 (Monday).

Source : The Hindu, India, dated 05/07/2009

Advertise|Sponsor| Privacy Policy|Disclaimer