TN, UP 'too intelligent' by not opting for VAT: FM | Latest News India - Hindustan Times
close_game
close_game

TN, UP 'too intelligent' by not opting for VAT: FM

None | ByPress Trust of India, Coimbatore
May 02, 2006 06:00 PM IST

FM warned that Tamil Nadu and Uttar Pradesh would be put to disadvantage by not implementing VAT.

Finance Minister P Chidambaram on Tuesday warned that Tamil Nadu and Uttar Pradesh would be put to disadvantage by not implementing Value-Added Tax, which has been adopted by all other states.

HT Image
HT Image

"When all other states, including the BJP-ruled ones, have implemented VAT, Uttar Pradesh and Tamil Nadu have not opted for VAT. Chief Ministers of these States are too intelligent," he told reporters.

Hindustan Times - your fastest source for breaking news! Read now.

He cautioned that "the industry will shift to other states and new industries, particularly manufacturing, would not locate (in these states)."

When asked about the reported delay in disbursement of VAT money, Chidambaram said there was no delay. The funds would be handed over the next day after receiving the audit report, he said.

Unveiling 'Elections 2024: The Big Picture', a fresh segment in HT's talk show 'The Interview with Kumkum Chadha', where leaders across the political spectrum discuss the upcoming general elections. Watch now!

Get Current Updates on India News, PM Narendra Modi in Kerala LIVE , Electoral Bonds Data Live , Lok Sabha Election 2024 Date along with Latest News and Top Headlines from India and around the world.
SHARE THIS ARTICLE ON
Share this article
SHARE
Story Saved
Live Score
OPEN APP
Saved Articles
Following
My Reads
Sign out
New Delhi 0C
Friday, March 15, 2024
Start 14 Days Free Trial Subscribe Now
Follow Us On