Guj Govt declares changes in VAT implementation

Gandhinagar, July 27 (UNI) Considering the sentiments and demands of the larger section of business community, the Gujarat government today declared some more changes in the implementation of the Value Added Tax (VAT) to bring in more transparency.

Talking to reporters here today, Gujarat Urban Development Minister I K Jadeja and Gujarat Finance Minister Saurabh Patel said the state government has decided that the traders who are buying and selling within Gujarat, irrespective of their sale-tax size, can submit their stock statement on quarterly basis.

Earlier, this was applicable to those traders whose sale-tax was below Rs 60,000 per annum.

However, this facility will not be made available for the traders who are doing import-export or inter-state tradings, or items like motor-spirit, the duo added.

Besides this, with a view to promote inter-state tradings, the Central Tax has been reduced to 0.5 from 2.0 per cent on items like milk powder and others.

The lable makings of all materials will be levied at four per cent, which was earlier for paper labels, the Ministers said.

Above all, the cotton fabrics which are coming in Gujarat from other states for dying and printing and going back after the processing have also been exmpted from the tax, they added.

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