Need Tally
for Clients?

Contact Us! Here

  Tally Auditor

License (Renewal)
  Tally Gold

License Renewal

  Tally Silver

License Renewal
  Tally Silver

New Licence
  Tally Gold

New Licence
 
Open DEMAT Account with in 24 Hrs and start investing now!
Top Headlines »
Open DEMAT Account in 24 hrs
 7 mistakes to avoid while filing Income Tax Return online ITR filing
 How to file income tax return using Form 16? A step by step guide
 New Tax Regime rule change: Marginal income over Rs 7 lakh may become tax-free; 5 points
 PAN-Aadhaar link to ITR filing: 5 money tasks to complete in March 2023
 How new tax regime may impact homebuyers in FY24?
 ​Income-tax (3rd Amendment) Rules, 2023
 Income Tax Filing: 6 key money matters that beckon your attention this month
 Back New income tax regime: How to save tax if annual income is above ₹7 lakh?
 Income tax return (ITR) forms for FY 2022-23 (AY 2023-24) released by CBDT

More sops for small traders under VAT
December, 11th 2006

The Tamil Nadu Government has announced further concessions to the small traders under the Value Added Tax regime to be implemented from January 1, 2007.

According to an official press release, the State Government has decided that traders with an annual turnover of Rs 10 lakh to Rs 50 lakh would have to pay a compounding tax of a maximum of 0.5 per cent.

With this, the State Government has cut by half the tax that these traders would have had to pay under VAT.

Earlier, under the Value Added Tax Act 2006, the traders with a turnover of Rs 10 lakh to Rs 50 lakh were to have paid a compounding tax of a maximum of 1 per cent.

According to the release, over one lakh traders would benefit from this decision.

The Tamil Nadu Assembly approved the Tamil Nadu Value Added Tax Act, 2006, during the recently concluded session.

It has exempted from the purview of VAT traders with a turnover of up to Rs 10 lakh with business restricted within Tamil Nadu.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2023 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting