Removing dual sales tax on cement a good step

Removing dual sales tax on cement a good step
Published: 09 January 2006

The Tamil Nadu chapter of industry FICCI on Friday said scrapping dual sales tax structure on cement and levying a uniform 14 per cent tax on all grades of cement at the first point of sale by the state government are progressive steps.

The total waiver of additional sales tax payable by dealers and exemption of surcharge "has come as a shot in the arm of the Cement industry in the state," FICCI state director Rafeeque Ahmed, said in a statement.

He said moving towards the VAT regime would provide further impetus to the sector and put it on par with the rates prevailing in the neighbouring states.

"This will provide a level playing field to the industry in the state by making them competitive and generate additional revenue to the state," he said.