Taboola script Diabled on 7th April on request Adpushup head code Diabled on 7th April on request
State government on Sunday decided to remove Valued Added Tax (VAT) on textile traders.
A decision to this effect was taken by Chief Minister N kiran Kumar Reddy after the Cabinet sub-committee which held discussions with the textile traders on Sunday. Ministers Anam Ramanarayana Reddy, T G Venkatesh and Prasad Kumar told newsmen that there would not be any alternate tax. The Chief Minister also promised to remove 1 per cent tax on the turnover.
Earlier, the cabinet sub-committee met on Sunday to finalise lifting of Value Added tax on cloth merchants imposed in the State. The ministers and the senior officials had a meeting in the Secretariat. They discussed about the GOs issued earlier on VAT related issues. The cabinet sub-committee also had a discussion with the representatives of the cloth traders. The textile traders launched an agitation demanding removal of VAT on textile business. The ministers may take a decision soon on the VAT. The government is likely to lose an income of Rs 2,000 crore.
-Sakshipost