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Kochi , Jan. 18

WELCOMING the Empowered Committee Chairman's statement following the release of the White Paper on VAT, the Indian Chamber of Commerce and Industry, Kochi, has said that the option to keep rice and foodgrains under the exempted category and to levy four per cent as VAT on tea, though a temporary measure for the first year, is welcome especially for a consumer state like Kerala.

In a release issued here the Chamber president, Mr K.S. Sabu has said that each state can flexibly choose and include 10 commodities of local importance under the exempted category and other taxes such as turnover tax.

Also, additional surcharge and special additional tax will cease to exist once VAT is introduced as well as the basic necessities such as medicines and drugs, all agricultural and industrial outputs etc. will fall under four per cent category.

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