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Tuesday, Jan 10, 2006


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Industry & Economy - Taxation


TN Chamber welcomes tax cut

Our Correspondent

MADURAI: The Tamil Nadu Chamber of Commerce and Industry has welcomed the scrapping of the dual system of taxation on cement and also the surcharge, additional sales tax and resale tax from January 2.

In a statement here, the chamber has said that the reduction of the tax to 14 per cent from 16 and 24 per cent on all varieties would provide the much-needed relief to the producers and dealers of cement in the State.

Hailing the move, the chamber has observed further that while opting to remove various taxes on products one by one, all these taxes on all the products should be abolished at one stroke and mitigate the highly debilitating impact of non-implementation of VAT on the entire trade and industrial sector in the State. The chamber has made an appeal to the Tamil Nadu Government to implement VAT in the State without any further delay and till such time, to provide succour to the trade and industry, abolish all the other taxes such as resale tax, surcharge, additional sales tax etc.

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