The Hindu : Tamil Nadu News : VAT will not affect small traders: Karunanidhi

Online edition of India's National Newspaper
Wednesday, Dec 20, 2006
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Tamil Nadu

Tamil Nadu

VAT will not affect small traders: Karunanidhi

Special Correspondent

CHENNAI: Chief Minister M. Karunanidhi wanted traders to think for themselves if they would be affected to even a minor extent with the introduction of the Value Added Tax (VAT) in the State. The concessions given in Tamil Nadu did not exist in any other State, he said.

In a statement here on Tuesday, he said All India Anna Dravida Munnetra Kazhagam general secretary Jayalalithaa was trying to instigate traders and made it clear that it was the duty of the Government to preserve law and order.

Refuting allegations that there had been no discussions on VAT, he said before the Bill was introduced in the Assembly, the Government had held talks with traders. There was no basis in the contention that VAT would affect small traders. This had been made clear during the presentation of the Budget.

He pointed that the Government had reduced the tax to 0.5 per cent on traders who had a turnover of less than Rs.50 lakh.

No need for deposits

There was no need for security deposits for new licences, he said The existing fee of Rs. 2,500 would be reduced to Rs.500. The Government had ordered that no officer should inspect the premises of a small trader. His accounts would be accepted as submitted by him.

Essential items such as rice, pulse varieties, cooking oil etc would be exempted from tax, he said.

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