The South India Spinners Association (SISPA) today welcomed the withdrawal of input tax reversal and also Clause (c) under Sec 19(5) of TNVAT Act in the Tamil Nadu budget for 2015-16.
In a statement, SISPA President C Varatharajan said the withdrwal of clause will eliminate additional burden on the dealers effecting inter-State sale of goods without 'C' form.
He also thanked the government for withdrawing tax credit reversal imposed at the rate of three per cent on the inter-state sale of goods, as the association was making repeated representation for it.
