The Union Cabinet, chaired by the Prime Minister Narendra Modi on 20 August 2015 approved the promulgation of the Dadra and Nagar Haveli Value Added Tax (Amendment) Regulation, 2005. The amendment was promulgated by the President under article 240 of the Constitution of India.
This will substitute the clause (b) of sub-section (1) of section 4 of the Dadra and Nagar Haveli Value Added Tax Regulation, 2005 with the amendment, namely “(b) in respect of goods specified in the Third Schedule, at the rate of five percent.”
This will help the Union territory to generate additional gross revenue and net tax generation that is estimated to be 120 crore rupees and seven crore rupees per annum respectively.
Article 240 in the Constitution of India
Article 240 of the Constitution, empowers the President to make regulations for the peace, progress and good government of the Union territory namely the Andaman and Nicobar Islands; Lakshadweep; Dadra and Nagar Haveli; Daman and Diu and Pondicherry.
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