New 4pc VAT on iPods, MP3 players in TN

By : |May 31, 2009 0

CHENNAI, INDIA: The Commercial Taxes and Registration Department has issued an order on the VAT charges. VAT for IT products, namely iPods, MP3 and MP4 players have been brought down to four percent, from 12.5 percent, throughout Tamil Nadu. The notification has come to effect from April 1, 2009.

The notification-I of the annexure issued by the Principal Secretary/Commissioner of Commercial on February19, 2009 stated, “In exercise of the powers conferred by Sub-Section (1) of Section 30 in the Tamil Nadu Value Added Tax Act, 2006 (Tamil Nadu Act 32 of 2006), the Governor of Tamil Nadu hereby makes a reduction in rate from 12.5 percent to four percent in respect to tax payable under the said Act by any dealer on the sale of IT products, namely iPods, MP3 and MP4 players. This notification shall be deemed to have come into force on April 1, 2009.”

With this annoucement, the prices of MP3 and MP4 players, and iPods are expected to come down in the state.

                                 

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