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TAMILNADU - VAT: Suspend implementation of amendments

The Tamil Nadu Chamber of Commerce and Industry has appealed to the Minister for Commercial Taxes, S.N.M. Ubayadullah, to suspend the implementation of the recent amendments of value added tax (VAT) returns, which mandate traders to provide details of invoices for purchases and sales.

 

Association president N. Jegatheesan said that traders had been dealing hundreds of purchases and sales invoices every month and would find very difficult to give details of all bills in the annexures.

Some Tax officials, he said, were insisting on the traders to provide invoices even for exempted goods.

Need six months

The traders would need a minimum of six months to incorporate necessary changes in their software. The association appealed to the Commercial Tax Minister to suspend the implementation of VAT amendments at the earliest as returns for the month of April had to be submitted by traders before May 20, a press release issued here on Monday said.

Source : The Hindu , India, dated 18/05/2010

 

   

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