L.A Bill No. 28 of 2022

[Regd. No. TN/CCN/467/2012-14.

[R. Dis. No. 197/2009.

[Price : Rs. 1.60 Paise.


	TAMIL NADU GOVERNMENT GAZETTE PUBLISHED BY AUTHORITY EXTRAORDINARY

No. 255] CHENNAI, WEDNESDAY, MAY 4, 2022

Chithirai 21, Subakiruthu, Thiruvalluvar Aandu-2053

Part IV—Section 1

Tamil Nadu Bills

BILL INTRODUCED IN THE LEGISLATIVE ASSEMBLY

OF THE STATE OF TAMIL NADU

Under Rule 130 of the Tamil Nadu Legislative Assembly Rules, the following Bill which was introduced in the Legislative Assembly of the Tamil Nadu on 4th May, 2022 is published together with Statement of Objects and Reasons for general information:-

A Bill further to amend the Tamil Nadu Value Added Tax

Act, 2006.

B(cid:3469) it enacted by the Legislative Assembly of the State of Tamil Nadu

in the Seventy-third Year of the Republic of India as follows:—

Short title and 1. (1) This Act may be called the Tamil Nadu Value Added Tax

commencement.

(Amendment) Act, 2022.

(2) It shall be deemed to have come into force on the 1st day of

January 2007.

Tamil Nadu Act

Amendment of 32 of 2006

second schedule 2. In the Second Schedule to the Tamil Nadu Value Added Tax Act, 2006, after Explanation IA, the following Explanation shall be added, namely:—

"Explanation IB.— For the purpose of determining the turnover of the Tamil Nadu State Marketing Corporation Limited, a Corporation, wholly owned and controlled by the State Government, in respect of the goods speciﬁ ed in,—

DTP—Ex-IV-1 (255)

[225]226 TAMIL NADU GOVERNMENT GAZETTE EXTRAORDINARY (a) Serial numbers 1 and 3, liable to tax at the ﬁ rst point of sale

in the State, the following method shall be adopted, namely:—

Selling Price (Maximum Retail Price) ——————————————————————————— x 100 100+rate of tax applicable at the point of ﬁ rst sale in the State.

(b) Serial number 2, liable to tax at the second point of sale in

the State, the following method shall be adopted, namely:—

Selling Price Amount paid on purchase (Maximum Retail Price) – (It includes excise duty but does not include Value Added Tax paid at the ﬁ rst point of sale)

——————————————————————————————— x 100 100+rate of tax applicable at the point of second sale in the State.".

TAMIL NADU GOVERNMENT GAZETTE EXTRAORDINARY 227

STATEMENT OF OBJECTS AND REASONS.

In order to resolve the issues pertaining to the assessments pending in respect of the Tamil Nadu State Marketing Corporation Limited, a Corporation wholly owned and controlled by the State Government, under the Tamil Nadu Value Added Tax Act, 2006 (Tamil Nadu Act 32 of 2006), the Government have decided to amend the Second Schedule to that Act retrospectively from 1st January 2007, to make suitable provisions to determine the taxable turnover of that Corporation.

2. The Bill seeks to give eﬀect to the above decision.

P. MOORTHY,

Minister for Commercial Taxes and Registration.

Secretariat, Chennai-600 009, 4th May 2022.

K. SRINIVASAN, Secretary.

PRINTED AND PUBLISHED BY THE COMMISSIONER OF STATIONERY AND PRINTING, CHENNAI ON BEHALF OF THE GOVERNMENT OF TAMIL NADU