Himachal to impose VAT on textile products



Shimla (July 13): Himachal Pradesh government has decided to impose Value Added Tax(VAT) on textile products as Union government has allowed the same. Moreover, it has also decided to hike VAT on steel and iron products by one percent, a senior official of excise and taxation department told HimVani.

State Excise & Taxation Commissioner Jagdish Sharma said that the state
government is considering to impose 5% VAT on textile products while readymade garments are already covered under VAT. He said that the department has got couple of objections against the provision, which have came from cloth retailers, while no buyer has objected the provisions, likely to be notified from today.

Sharma said that VAT on iron or steel products has been increased by one percent, raising it to five percent from existing four percent. He said that additional tax would ease the cash-strained state coffer by getting expected revenue in between five to ten crore.

It is worthwhile to mention here that during last budget session the state
government had not levied any new tax on any item but it increased VAT on tobacco products. recently it reduced VAT by four percent on diesel in the wake of hike in cost of petroleum products.

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