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Proposed Amendments to the TN VAT Act, 2006
Posted on: 15/Feb/2016 10:44:19 AM
State Government has notified the following acts to be effective from January 29, 2016, thereby enforcing the amendments proposed during September:
- Tamil Nadu Value Added Tax (Second Amendment) Act, 2015 and
- Tamil Nadu Tax on Entry of Motor Vehicles into Local Areas (Amendment) Act, 2015
Least at the initial point of Sale, full rate of VAT at 5 percent or 14.5 percent shall be collected on the value of goods. Thereafter 1 percent or the rate as may be notified shall be collected on the Sale value on second and subsequent sale of such goods.
Currently, the fee for applying for a registration under Tamil Nadu VAT is INR. 500/- only.This is sought to be increased to INR. 1,000/-.
In case of loss of the original registration certificate under Tamil Nadu VAT, the VAT authorities shall issue a duplicate on making an application along with payment of INR. 100/-.
Please note that the aforementioned amendments are proposed in the Assembly and are yet to be notified by the State Government.
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