A Bill has been moved in the Tamil Nadu Assembly to levy additional five per cent Tax under Value Added Tax (VAT) on taxable turnover of intra-State sale of all kinds of alcoholic liquors.
The Bill was moved by Commercial Taxes Minister K C Veeramani for amending the Tamil Nadu Value Added Tax, 2006.
As per the Statement of Objects and Reasons in the bill, the five per cent tax on sale of liquor with retrospective effect from April 1, 2016 on the taxable turnover of the intra-state sale of liquors of all kinds of human consumption.
Government has also decided to make a provision in the Act to notify different rates of additional tax for different types of alcoholic liquors.
Commercial Taxes Minister Veeramani, who introduced another bill to amend the second schedule of TN VAT, 2006, to give effect to a notification issued to increase the rate of tax on petrol to 34 per cent and high speed diesel oil to 25 per cent.
