The Hindu : 15 p.c. additional ST from July 1

Online edition of India's National Newspaper
Thursday, Jun 19, 2003

Southern States

Southern States - Kerala

15 p.c. additional ST from July 1

By Our Special Correspondent

THIRUVANATHAPURAM JUNE 18. The Finance Minister, K. Sanakaranarayanan, told the Assembly on Wednesday that the Government proposed to introduce 15 per cent additional Sales Tax (ST) on commodities from July 1.

The Minister was replying to the debate on the Kerala General Sales Tax (Third Amendment) Bills seeking to empower the Government to charge additional sales tax. The Bill was later referred to the Subject Committee.

The Minister said that the Government had not proposed to levy the additional sales tax earlier this year because the Value Added Tax system was proposed to be implemented. The Central Government had insisted that the VAT should be implemented this year. However, since the implementation date has been postponed, the Government has proposed the legislation. It was being given effect from July as the legislation could not be given retrospective effect. The Bill would not affect small traders and farmers.

He said that tax revenues had increased by 21 per cent over the previous year in 2002- 03. In the previous year, the buoyancy was 2 per cent whereas it was 13 per cent in 2000-01. Better enforcement through the checkposts and vehicle inspections had helped to improve tax collection last year.

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