Raipur, Dec 31 (Inditop.com) The Chhattisgarh government has decided to raise the value added tax (VAT) by 1 to 1.5 percent with effect from Friday, Jan 1, 2010.
The notification has already been issued and the new VAT rate structure will come into force with the New Year, sources in the commercial tax department told Inditop.
“The items taxed at four percent earlier will now have to pay five percent VAT, while the items taxed at 12.5 percent earlier has now be increased to 14 percent,” the source stated.
The state’s leading industrial grouping, Chhattisgarh Chamber of Commerce, opposed the VAT hike decision, asserting that it would “increase the burden on the common man”.
“People are already reeling under price hike and the new rate will add extra burden on them, the government must reconsider its decision” Sreechand Sunderani, president of the Chamber, said.
