Under the Tamil Nadu Agricultural Produce Marketing (Regulation) Act 1987, one per cent fee is levied on cotton and cotton waste -based on the sale value- by the market committee.
PTI
September 04, 2021 / 05:00 PM IST
Reuters
A one per cent market levy on cotton and cotton waste would be withdrawn and the relevant legislation shall be suitably amended to give effect to it, Chief Minister M K Stalin announced in the Assembly on Saturday.
Citing representations from weavers and entrepreneurs, Stalin
said the levy of one per cent fee by the market committee “is cancelled,” and an amendment Bill would be passed in the ongoing Assembly session.
Under the Tamil Nadu Agricultural Produce Marketing (Regulation) Act 1987, one per cent fee is levied on cotton and cotton waste -based on the sale value- by the market committee.
While such a fee should be levied only on cotton bales, cotton and
cotton waste also face the one per cent fee, the Chief Minister said.
Due to this, small mills faced huge difficulties and withdrawal of levy on cotton has been a long time demand of weavers and entrepreneurs, he said.
During a consultation after his government assumed office on May 7 this request was reiterated. Considering such requests, the one per cent market levy is cancelled, he added.
According to the TNAPM Act, the market committee shall levy a fee on any notified agricultural produce bought or sold in the notified market area.
