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AP CM rejects plea for rollback of VAT on textiles
28
Jan '12
The ongoing agitation by textile industry in the southern Indian State of Andhra Pradesh is likely to be prolonged further, as the State Chief Minister N Kiran Kumar Reddy rejected the demand for withdrawal of value-added tax (VAT) on textiles in the State.

On a call given by the Andhra Pradesh Federation of Textile Associations (APFTA), about 100,000 wholesale, semi-retail and retail traders in the State have stopped doing business from January 23 onwards.

Representatives of APFTA met the Chief Minister and urged him to abolish the five-percent VAT on textiles levied by the State government, as it is negatively affecting the traders in the State.

However, the Chief Minister politely turned down their demand. He said VAT is being collected only if the sales turnover is more than Rs. 4 million and it is not apt on the part of traders, whose annual business is over Rs. 100 million, to oppose VAT.

The traders were told that the government was implementing a number of welfare schemes that necessitate huge amount of funds.

However, the CM assured the traders that they would not be subjected to unnecessary harassment in the collection of VAT.

Fibre2fashion News Desk - India

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