Commercial Taxes Minister K.C. Veeramani on Wednesday introduced in the Assembly the Tamil Nadu Goods and Service Taxes Bill, 2017.
“The proposed legislation will confer power upon the State government for levying goods and services taxes on the supply of goods or services or both which takes place within the State. It will simplify and harmonise the indirect tax regime in the State,” the statement of objects and reasons said. It will also provide for elaborate provisions for the smooth transition of existing tax payers to the goods and service tax regime.