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Our Bureau

New Delhi , Feb. 7

AS many as 18 States have passed their legislations on State-level value-added tax (VAT) to be introduced from April 1 this year, the Member-Secretary of the Empowered Committee of State Finance Ministers on VAT, Mr Ramesh Chandra, said here today.

At an interactive meeting on VAT, organised by the Clothing Manufacturers' Association of India (CMAI), Mr Chandra said that about 10 States have already drafted the rules for their VAT legislations.

He also said that a VAT rate of 4 per cent would be applicable on all ready-made garments. Asked as to how the proposed VAT regime would work for maximum retail price (MRP) items, Mr Chandra said that the Empowered Committee of State Finance Ministers on VAT have suggested certain changes to the Packaged Commodities Act.

"We have suggested few changes in the Act, which is a Central legislation. It is for the Centre to make desired changes," he said.

The thorny issue under MRP is the stipulation in VAT laws, which require the VAT component to be disclosed separately in the invoices.

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