Tamil Nadu has not incurred a great loss since the introduction of value added tax (VAT) in the State while the revenue in many other States has gone down, said Mr S.N.M. Ubayadullah, Tamil Nadu Minister for Commercial Taxes, here on Thursday.
The comfortable position is due to the efficient implementation of VAT by the officials aided by the VAT Monitoring Committee, he said while delivering a special address at the Diamond Jubilee Celebrations of the Tamilnadu Jaggery Merchants Association.
The small shortfall, estimated to be around Rs 500 crore could be made good by the Centre to the extent of 75 per cent, he added. The Minister, responding to pleas from traders, assured to look into the problem of availability of `C' Form, necessary for inter-state movement of goods and pending issues for settlement.
Speaking earlier, Mr S. Rethinavel, President, Tamilnadu Chamber of Commerce and Industry, urged traders to adopt modern techniques in production and marketing.