TN CM urged to implement VAT
TN CM urged to implement VAT
The local chapter of Indian Chamber of Commerce and Industry has appealed to Tamil Nadu Chief Minister to implement Value Added Tax (VAT) in the state with effect from April 2006.
In a memorandum to Chief Minister J Jayalalithaa, a copy of which was released to the press, the Chamber president A Shaktivel said that all the states including BJP ruled ones have agreed to switch over to VAT from April 2006 onwards.
With neighbouring states already implementing VAT, industrialists from Tamil Nadu were shifting their base from here, resulting in huge losses to the state exchequer.