TAMIL NADU

GOVERNMENT GAZETTE

EXTRAORDINARY

PUBLISHED BY AUTHORITY

©

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

GOVERNMENT OF TAMIL NADU

[R. Dis. No. 197/2009.

2022

[Price : Rs. 1.60 Paise.

No. 255]

CHENNAI, WEDNESDAY, MAY 4, 2022

Chithirai 21, Subakiruthu, Thiruvalluvar Aandu-2053

DTP—Ex-IV-1 (255)

[225]

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:-

L.A Bill No. 28 of 2022

A Bill further to amend the Tamil Nadu Value Added Tax

Act, 2006.

Bඍ it enacted by the Legislative Assembly of the State of Tamil Nadu

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

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

(Amendment) Act, 2022.

Short title and

commencement.

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

January 2007.

Tamil Nadu Act

32 of 2006

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,—

Amendment of

second schedule

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 eff ect to the above decision.

P. MOORTHY,

Minister for Commercial Taxes and Registration.

Secretariat,

Chennai-600 009,

K. SRINIVASAN,

4th May 2022.

Secretary.

PRINTED AND PUBLISHED BY THE COMMISSIONER OF STATIONERY AND PRINTING, CHENNAI

ON BEHALF OF THE GOVERNMENT OF TAMIL NADU