Bill for implementation of VAT in current session of House

Puducherry, Apr 20 (UNI) Puducherry Chief Minsiter N Rangasamy today told the legislative assembly that the administration would table the Bill for implementation of VAT in the union territory in the current session of the legislative assembly.

Winding up the discussion on demand for various departments including Revenue, Salea Tax and Social Welfare, Mr Rangasamy said the Centre would compensate 50 per cent of the revenue loss due to the implementaion of VAT.

The government would create awareness among the traders in respect of VAT after its implementation. The service tax for 77 items would be modified to bring down prices, he said, adding steps were being taken to prevent tax evasion.

The administration would soon issue orders on the levy of additional excise duty for IMFL in place of sale tax aboished in the budget speech. There need not be any apprehension in this regard.

The administration would soon set up a Welfare Board for traders in the union terriotory, he added.

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