T.N. ACT NO.27/2011
TAMIL NADU VALUE ADDED TAX (FOURTH AMENDMENT) ACT, 2011
(Received the Assent of the Governor of Tamil Nadu on September 26, 2011 – Published in Tamil Nadu Government Gazette, Extraordinary, Part IV, Section 2, Iss. No.368, pages 135-136, dated September 27, 2011), Statement of Objects and Reasons: Refer T.N.Bill. No.30/2011-2011 (2) CTAR page 1.55
An Act further to amend the Tamil Nadu Value Added Tax Act, 2006.
Be it enacted by the Legislative Assembly of the State of Tamil Nadu in the Sixty-second Year of the Republic of India as follows:—
1. Short title and commencement. — (1) This Act may be called the Tamil Nadu Value Added Tax (Fourth Amendment) Act, 2011.
(2) It shall come into force on such date as the State Government may, by notification, appoint.
2. Amendment of Section 3. — In Section 3 of the Tamil Nadu Value Added Tax Act, 2006, in sub-section (4), in Clause (b), for the expression "Such dealer is liable to pay tax under sub-section (2) on all his sales of rupees fifty lakhs and above", the expression "Such dealer may pay a tax for each year on his turnover relating to taxable goods upto rupees fifty lakhs at such rate not exceeding one per cent, as may be notified by the Government and is liable to pay tax under sub-section (2) on all his sales of taxable goods above rupees fifty lakhs" shall be substituted. |
