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New Delhi, April 29

The Confederation of Indian Industry has urged the Empowered Committee of State Finance Ministers on VAT to persuade the Kerala Government not to levy VAT on maximum retail price (MRP). A recent circular by the Kerala Government introduces a provision in Kerala VAT Act, 2003 that provides for payment of a first point tax calculated on MRP printed on the packaged commodities covered by the Standards of Weights and Measures (Packaged Commodities) Rules, 1977. Terming this proposed Amendment as `going against the spirit of VAT', the chamber said that this does away with the concept of collecting tax at each point in the value chain, based on the value added at each point.

More Stories on : Taxation | Kerala | Industry Associations

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