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Andhra Pradesh govt rollbacks VAT on textiles
29
Apr '13
After a prolonged protest by textile traders in the state, the government of southern Indian state of Andhra Pradesh has decided to completely remove the Value Added Tax (VAT) on textiles.
 
Chief Minister N Kiran Kumar Reddy said the government imposed VAT on textile traders, in view of the then poor situation of the state’s economy, according to an official statement.
 
VAT at the rate of five percent was imposed on textile traders in the state in 2011.
 
The decision to remove VAT on textile trade was taken after a meeting between representatives of textile traders and a group of ministers.
 
The textile traders, led by Andhra Pradesh Federation of Textile Associations (APFTA), were demanding the removal of VAT, as it was not being imposed in neighbouring states.
 
APFTA has welcomed the government’s decision to rollback VAT on textiles in the state.
 

Fibre2fashion News Desk - India


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