Business & Economy

Cabinet okays promulgation of Dadra and Nagar Haveli, Value Added Tax (Amendment) Regulation, 2015

NetIndian News Network

New Delhi, August 20, 2015

The Union Cabinet today approved the promulgation of the Dadra and Nagar Haveli Value Added Tax (Amendment) Regulation, 2005 by the President under article 240 of the Constitution. 
This will substitute the clause (b) of sub-section (1) of section 4 of the Dadra and Nagar Haveli Value Added Tax Regulation, 2005 with the amendment, namely “(b) in respect of goods specified in the Third Schedule, at the rate of five percent.” 
This will help the Union Territory to generate additional gross revenue and net tax generation that is estimated to be Rs.120 crore and Rs. 7 crore per annum, respectively, an official press release said.
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