The Hindu Business Line : Uniform commodity classification by Sept in Kerala

KERALA will have a uniform commodity classification by September, which will be put up on the Web site, Mr V. Somasundaran, Commissioner, Commercial Taxes, has said.

Speaking at an interactive session on `VAT - issues and concerns emerging after implementation' organised by the Confederation of Indian Industry, he said the list of industrial raw materials is being amplified and will be notified by early July.

Mr Somasundaran said all varieties of tea would be taxable at 4 per cent, while taxing of processed foods will be done depending on the value addition.

Lower limit of registration would be raised from 2 lakh to 5 lakh and individuals will be given the option of payment of unpaid taxes before the implementation of `Best Judgment', he said.

Doubts relating to claims of input tax credit, definition of capital goods and trade discount, and implementation of refund mechanism were clarified at the session, which was attended by 60 industry representatives from all over Kerala.

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