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Thursday, May 24, 2007 : 0300 Hrs
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    		• Agri. & Commodities
    Karunanidhi announces VAT reduction for Tea

    Chennai, May 24 (PTI): The Tamil Nadu Chief Minister, M Karunanidhi, on Wednesday announced reduction of Value Added Tax for tea from four to one per cent.

    The reduction had been announced for tea powder, produced both at private and INCOSERVE (tea growers cooperative) tea factories, during first sale or direct procurement at auction centres, an official press release here said.

    The concession announced for tea farmers and manufacturers would cause a revenue loss of Rs 2.07 crore per annum to the Government, the release added.

    Agri. & Commodities

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