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Tamilnadu Government withdrew 5% VAT on textiles

Written By Views maker on July 29, 2011 | 7/29/2011

The Tamil Nadu government withdrew the 5 per cent VAT on textiles with retrospective effect from July 12, providing relief to the industry, The tax had drawn flak from the industry, which had stated that slackness in the international market would make textile industry in Tamil Nadu "uncompetitive" compared to that of other states.