Financial Daily from THE HINDU group of publications
Friday, Mar 12, 2004

News
Features
Stocks
Cross Currency
Shipping
Archives
Google

Group Sites

Corporate - Taxation
Industry & Economy - Power


TN chamber obtains interim stay on 5 pc electricity tax

Our Correspondent

Madurai , March 11

THE Tamilnadu Chamber of Commerce and Industry has obtained an interim stay over its writ appeal filed before the Madras High Court Bench, restraining the Tamil Nadu Electricity Board from levying, demanding and collecting five per cent electricity tax.

Mr S. Rethinavelu, President of the chamber, in a statement here has said that the industry particularly SSI units were affected on account of high rate of electricity charges in the State, price-wise becoming uncompetitive with the products of other States.

Units, which are power oriented, have already shifted their industrial activities to the neighbouring States. Under such circumstances, the levy of five per cent electricity tax added to their woes. The chamber filed a writ petition on the file of the High Court of Judicature at Madras questioning the validity of five per cent electricity tax under the Tamilnadu Electricity (Taxation on Consumption) Amendment Act 1991.

The same was dismissed. Against the said dismissal order the chamber filed a writ appeal and has obtained the present interim-stay order.

More Stories on : Taxation | Power | Tamil Nadu

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page



Stories in this Section
A.L. Mudaliar steps down as Bata India chief


Mitsubishi working on new car for India
BHEL bags ONGC equipment contract
GSPC issues LI to Saipem for offshore oil rig
BG India to invest $140 m in Panna
Century delists from DSE
TN chamber obtains interim stay on 5 pc electricity tax
CPCL demo plant to produce water from sewage
ICRA assigns highest safety rating to GAIL bonds
Emirates launches eurobond issue
NIIT to spin off software biz — Targets US, Europe to grow education division
ABB board okays sale of control valve biz
ACC pact for stake buy
DBS opens office in Hyderabad, Kolkata
Yuksom Breweries plans to go beyond N-E
Rolls Royce in talks with Reliance for gas kit supply
Petronet proposes terminal at Mangalore — Hopes to team up with ONGC
Netafim to expand, set up plant in AP
Matrix Labs gets US nod for second unit
Dodsal bags order for petro products supply in Afghanistan
Proalgen Biotech to come out with IPO
Varun Shipping plans rights, global offering
Proposed share sale to Bajaj Auto — Maharashtra Scooters shareholders seek fair returns
Nicholas Piramal profit `to take Rs 50 lakh hit'
LG Elec looks at Rs 7,000-cr turnover
Hyundai all set to ship Santro to Mexico
Steelage hopes to double turnover



The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2004, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line