The Hindu Business Line : Oil seeds body urges TN to introduce VAT

The Madurai Oil and Oil Seeds Association has urged the Tamil Nadu Government to introduce VAT and exempt edible oils from sales tax and other local taxes.

In a representation to the State Government, the association has urged the Chief Minister, Mr M. Karunanidhi, to do away with resale tax, surcharge, four per cent sales tax on edible oils, and 1-3 per cent turnover tax levied on large manufacturers and traders.

Shift commercial tax

The association has also urged the Government to shift commercial tax to VAT but exempt edible oil trade from the purview of VAT.

The association recalled that in 1997 the then DMK Government had removed sales tax on edible oils. But in 2001, the State Government had levied four per cent sales tax on oilseeds, edible oils and oil cake, five per cent surcharge, one per cent resale tax and 1-3 per cent turnover tax.

More Stories on : Oilseeds & Edible Oil | Taxation | Tamil Nadu

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