Business   

Plea to cut VAT on cashew kernels

Kochi: The Cashew Export Promotion Council has appealed to the authorities of all States to reduce Value Added Tax (VAT) on cashew kernels to four per cent.

The council pointed out that raw cashew nuts are included among items attracting four per cent VAT and cashew kernels among those attracting 12.5 per cent in most States.

As the higher rate of tax would adversely affect consumption of cashew kernels, the Council represented to the Empowered Committee of State Finance Ministers and various State Governments to put cashew kernels among the items attracting four per cent tax.

The council has, in addition, represented for abolition of the four per cent CST on cashew kernels.

The council expressed happiness at the fact that the Government of India has reduced the Central Sales Tax for inter-State sales from four to three per cent from April 1 2007, which helps the exporters.

In response to the council’s request, the Government of Kerala has also reduced VAT on cashew kernels to four per cent.

Printer friendly page  
Send this article to Friends by E-Mail

Stories in this Section

Deora moots agenda for energy security
Reliance Power close to bagging Krishnapatnam UMPP
Seaways to add six container ships
Captivating
New strategies for improving farming
Plea to cut VAT on cashew kernels
REL to hive off infrastructure projects
RIL bags two oil blocks in Kurdistan
Tatas, WB Govt. sign pact

Copyright © 2007, The Hindu. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu