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What is Tamil Nadu Implements VAT System about?

Tamil Nadu has decided to implement the value-added tax (VAT) system starting January 2007. Under VAT, tax will be levied on the value added at each stage of production and distribution, as opposed to the entire value of goods. Input tax credits can also be claimed. This will benefit companies in Tamil Nadu through reduced tax burdens and savings on additional sales taxes previously imposed. The article analyzes the potential financial impact for several major companies operating in Tamil Nadu.

Author

home555

Language

EN