VAT regime from July 1: CM announces

Puducherry, June2(UNI) The Puducherry administration will implement Value Added Tax(VAT) in the union territory from July 1, Chief Minister N Rangaswamy said today.

Adressing a press conference here, he said he had in his budget speech announced the implementation of VAT from June 1.

However, one month time was given to enable to the traders to make all arrangements including taking stock to switch over to VAT regeme.

The Chief Minister said officals of the commercial tax department would give all the necessary explantion to the traders here through a help-desk.

He called upon the traders to register themselves and switch over to the VAT regeme and cooperate with the administration for the proper implimentation of it here.

He said details on which items the tax would go up and on which goods it would come down, would be anounced later.

On the demand by AIADMK to convene an assembly session to discuss the Bill pertaining to VAT, Mr Rangasamy said all the state governments had implemented VAT and the administration would seek compensation from the Centre for revenue loss.

UNI