The Hindu : National : Jharkhand to implement VAT from January

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Thursday, Oct 06, 2005

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National

Jharkhand to implement VAT from January

Special Correspondent

NEW DELHI: Witnessing the marked increase in revenue collection in VAT (value added tax) States, the BJP-ruled Jharkhand and quite a few other States are set to adopt the new tax regime from next year.

Indicating this after a meeting here on Wednesday, the Chairman of the Empowered Committee on VAT, Asim Dasgupta, said: "We are hopeful that other States will join from next year."

While Uttaranchal has decided to switch over to the new tax regime from this month itself, Jharkhand is making preparations to follow suit from January 2006.

"We have drafted a VAT bill which will be introduced in the State Assembly if it meets in December. Otherwise an Ordinance will be issued for implementing VAT from January," said Jharkhand Finance Minister Raghubir Das.

Uttar Pradesh has invited the VAT committee for discussions after Diwali as the opposition to VAT appears to be fizzling out following the improvement in revenue mop-up in the 21 States which implemented the new tax regime.

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