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Fulfilling the long pending demand of the weavers, the Tamil Nadu government will cancel the 1 per cent market entry tax on the sale value of cotton and waste cotton.
Making a statement in the Assembly on Saturday, Chief Minister MK Stalin said that under the Tamil Nadu Agricultural Products (Regulation) Act 1987, cotton bales, cotton and waste cotton are treated as agricultural commodities and a tax of 1 per cent (market fee) is levied on purchases or sales in market areas in Tamil Nadu.
However, the market entry tax should be levied only on cotton bales. Thus, when cotton is procured from other states, small mills face hardship by way of transportation charges. The long-standing demand of entrepreneurs and weavers is to remove the market entry tax levied on cotton and waste cotton.
The State government will introduce a suitable amendment in the Tamil Nadu Agricultural Produce Market Regulation Act, 1987 during the current session of the Assembly, he said.
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