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SIMA urges TN State Govt. to withdraw VAT increase on fuel

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Petrol Price Hike

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India’s Southern India Mills’ Association (SIMA) has urged the state Government of Tamil Nadu to roll back the increase of VAT on petrol and diesel in favour of textile value chain. The textile industry is already paying 5 per cent VAT on cotton and cone yarn, as against 2 per cent CST and zero per cent tax in other states, the trade body mentioned.

Petrol and diesel prices went up in the state after Tamil Nadu Government led by K Palaniswami increased the VAT on diesel from 21.43 per cent to 25 per cent and that of petrol from 27 per cent to 34 per cent, respectively.

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Dependency on diesel runs generators during power cuts and maintenance period was adding to their woes. In view of GST being implemented from July 1, the VAT increase should be withdrawn to save the industry, added M Senthil kumar, Chairman, SIMA.

 

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