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MP rolls back VAT on power, sugar and cloths
March, 29th 2012
Madhya Pradesh Finance Minister Raghavji today announced roll-back of five per cent VAT on power, sugar and cloths, imposed in the state budget for the year 2012-13. The Finance Minister made the announcement in Assembly while presenting MP VAT Amendment Bill 2012. Raghavji said despite compulsions, the government was rolling back the five per cent VAT, as demanded by the people. He said that Congress-ruled neighbouring Maharashtra had imposed five per cent VAT on cloths and cooking gas while Andhra Pradesh too had also imposed VAT on sugar and cloths. Terming proposed Goods and Services Tax (GST) as against the federal structure, Raghavji said that not only Madhya Pradesh, but many other states were opposing it. After the Finance Minister's reply, the bill was passed by a voice vote.
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