Karnataka will become the first state to receive the presidential assent for implementation of value-added tax (Vat) which will come into force before April 2003, according to Ashok Kumar C Manoli, the commissioner of commercial taxes, the government of Karnataka.
Manoli announced this at an interaction meet with the Greater Mysore Chamber of Industry, here.
Explaining the smooth implementation of VAT and the benefits it would provide to the Indian industry, Manoli said that the VAT Bill, which had been passed in the state legislative assembly, was most likely to receive the approval of both the houses during the next week.
The model rules with returns and forms had been given out for discussion and this would later be published after the passing of VAT Bill, along with suggestions and views received.
Manoli said that the first computer-generated VAT number would comprise 11 digits and would also be known as the Tax Payer Identification Number (TIN), which would be uniform throughout the country.
