Chhattisgarh to implement VAT from April 1

Chhattisgarh to implement VAT from April 1

Yet another Indian state has announced their decision to implement the new tax structure popularly known as Value Added Tax (VAT) from the upcoming financial year. The Chhattisgarh government has announced that they would be implementing Value Added Tax (VAT) provisions in the state from April 1.

Finance Minister Amar Agrawal made this announcement during his budget speech. He also mentioned in a statement that the government made a delayed announcement as central government had assured to compensate the tax losses to the state once it will join the new tax regime.

Agrawal said: “The decision was taken after the central government’s assurance that all concerns related to commercial tax losses incurred by the state after April 1 would be addressed.” The budget presentation saw the minister presenting his government’s third annual budget of Rs.123.10 billion for 2006-07.