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AP textile traders likely to protest again over VAT
03
Sep '12
Unhappy with the Andhra Pradesh government’s inability to fulfil its promise of abolishing 5 percent value-added tax (VAT) on textile goods, the textile traders of the state may soon resume their protest.
 
The traders alleged that despite the soon-to-be-implemented Government’s order of eliminating VAT on textiles, the tax officials are still seizing their goods and demanding tax payment of 5 percent as per the VAT provisions.
 
The state government had to face intense agitation from the textile traders subsequent to the declaration of 5 percent VAT implemented since July 2011.
 
However, after several rounds of negotiations between the state government officials and the agitating textile traders in the state, chiefly represented by the Andhra Pradesh Federation of Textile Associations (APFTA), the government decided to slash the VAT on textile goods from 5 percent to 1 percent in April 2012.
 
But, even after four months waiting for the execution of tax reduction orders the traders are not sure if the government will keep its promise as the tax officials are still detaining bales and urging traders for Tax Identification Numbers (TIN) registration, and demanding an overall penalty of 5 percent extra in addition to tax module, from July 2011, APFTA said.
 

Fibre2fashion News Desk - India


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