07 November 2009
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Assam abolishes VAT on essential commodities in Budget FY'09.
PTI - The Press Trust of India Ltd.| March 10, 2008 | COPYRIGHT 2008 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright Assam abolishes VAT on essential commodities in Budget FY'09
Guwahati, Mar 10 (PTI) -- The Assam Government today presented a Rs 2,819.23-crore deficit budget for 2008-09, seeking to abolish VAT on essential commodities, introduce gender budgeting and make alcohol and tobacco products costly.
Presenting the budget, Chief Minister Tarun Gogoi, who is also the finance minister, said VAT on rice, pulses, wheat, flour, semolina (suji), besan, onion and potato would be removed.
Gogoi also brought down the rate of VAT on unbranded soya nuggets, transformers, jute cloth and other jute products from 12.5 per cent to 4 per cent.
To encourage export of tea from Assam, the existing deduction of 50 paise per kg from agricultural income tax was doubled to Re one per kg, while central sales tax for tea sold through Gauhati Tea Auction Centre was cut to 0.25 per cent.
To partially compensate the loss in revenue due to rate cuts, Gogoi proposed raise in tax on foreign liquor and country spirit from 24 per cent to 27 per cent.
A cess of three per cent was also introduced on sale of tobacco products in the state, proposing to utilise the amount mopped up from this for the development of health infrastructure and services ...
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