TAMIL NADU VALUE ADDED TAX (AMENDMENT) ACT, 2016
Act No. 3 of 2016
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-seven Year of the Republic of India as follows:-
Short title and commencement
1. (1) This Act may be called the Tamil Nadu Value Added Tax (Amendment) Act, 2016.
(2) It shall be deemed to have come into force on the 1st day of January 2007.
Amendment of section 19.
Tamil Nadu Act 32 of 2006
2. In section 19 of the Tamil Nadu Value Added tax Act, 2006, after sub-section (20), the following sub-section shall be added, namely:-
“(21) Notwithstanding anything contained in sub-section (2), in the case of purchase of goods made within the State from a registered dealer who has availed fiscal incentive in the form of refund of gross or net output tax as Industrial Investment Promotion subsidy or soft loan sanctioned by the Government, input tax credit shall be allowed only to the extent of aggregate of output tax paid on the re-sale of such goods and the sale of goods manufactured out of such goods, within the State or in the course of inter-State trade or commerce.” |
