Delhi assembly passes bill to amend VAT act
The bill to amend the VAT law in Delhi, thus enabling the AAP government to regulate tax rates on petroleum products, liquor and aerated drinks, was passed by the assembly on Tuesday, amid a walkout by the opposition BJP.
The Delhi Value Added Tax (Second Amendment) Bill was passed as the three BJP lawmakers walked out and Leader of Opposition Vijender Gupta tore a copy of the bill.
Finance Minister Manish Sisodia however sought to assure that the amendment will not led to increase in prices.
The AAP government on Monday introduced an amendment to the Delhi Value Added Tax (Second Amendment) Bill 2015, which might lead to a hike in prices of petroleum products, tobacco and aerated drinks.
Currently, VAT on goods under the fourth schedule is fixed at 20 percent but the amendment will enable the state government to impose rates varying from 12.5 percent to 30 percent.