STATE BUDGET 2015-16
Shifting from an industry-centric to social sector-centric budget, Gujarat Government announced reduction in the Value Added Tax (VAT) on imitation jewellery, aviation turbine fuel (ATF) and isabgul, among others. On the other hand, with the technical textile industry getting bigger in the state, the same was brought under tax purview.
While it was previously full exempted from the tax network, the government has decided to impose 5% on technical textile.
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Speech (Abstract of VAT)
