ACT No. 31 OF 2022.

No. 318] CHENNAI, FRIDAY, JUNE 3, 2022 Vaikasi 20, Subakiruthu, Thiruvalluvar Aandu–2053

Part IV—Section 2

Tamil Nadu Acts and Ordinances

The following Act of the Tamil Nadu Legislative Assembly received the

assent of the Governor on the 1st June 2022 and is hereby published

for general information:—

ACT No. 31 OF 2022.

An Act further to amend the Tamil Nadu Value Added Tax

Act, 2006.

Be 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 32 of 2006.

of 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 specified in,—

(a) Serial numbers 1 and 3, liable to tax at the first 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 first 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 first point of sale)

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

(By Order of the Governor)

C. GOPI RAVIKUMAR, Secretary to Government (Legislation), Law Department.