Govt approves promulgation of Dadra and Nagar Haveli VAT regulation
Updated: Aug 20, 2015 04:36:09pm
New Delhi, Aug 20 (KNN) The government today approved the promulgation of the Dadra and Nagar Haveli Value Added Tax (Amendment) Regulation, 2005.
"This (approval of promulgation) will help the Union territory generate additional gross revenue and net tax generation that is estimated at Rs 120 crore and Rs 7 crore per annum, respectively," according to an official release.
The decision was taken in the Cabinet meeting headed by Prime Minister Narendra Modi.
"This will substitute the clause (b) of sub-section (1) of Section 4 of the Dadra and Nagar Haveli Value Added Tax Regulation, 2005 with the amendment, namely (b) in respect of goods specified in the Third Schedule, at the rate of 5 percent," it added. (KNN Bureau)
"This (approval of promulgation) will help the Union territory generate additional gross revenue and net tax generation that is estimated at Rs 120 crore and Rs 7 crore per annum, respectively," according to an official release.
The decision was taken in the Cabinet meeting headed by Prime Minister Narendra Modi.
"This will substitute the clause (b) of sub-section (1) of Section 4 of the Dadra and Nagar Haveli Value Added Tax Regulation, 2005 with the amendment, namely (b) in respect of goods specified in the Third Schedule, at the rate of 5 percent," it added. (KNN Bureau)
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