Transparent approach to VAT adopted, say Gujarat ministers

Ahmedabad, Aug 5 (UNI) The State government has kept in mind the concerns of the business community while levying value added tax (VAT) and, therefore, a transparent approach has been adopted, said Urban Development Minister I K Jadeja and Finance Minister Saurabh Patel.

The ministers, in an official release here today, said 4 per cent VAT levied on polyster yarn had adversely affected textiles units in the state.

Therefore, to allow a level-playing field to the units in the state, the government has modified the Gujarat Tax on Entry of Specified Goods Act 2001.

A notification has been issued in this connection under which 4 per cent entry tax would be imposed on all yarns except nylon, polyester-viscose and cotton.

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