Andhra Pradesh abolishes VAT imposed on textile traders

摘要

Andhra Pradesh Chief Minister N Kiran Kumar Reddy recendy decided to totally abolish Value Added Tax (VAT) imposed on textile traders. The move came after protracted negotiations between a group of ministers and traders' representatives. Contending that VAT is not imposed in other states in the country, textile traders had been agitating for long demanding removal of VAT. An official release quoted Reddy saying that VAT had to be imposed on textile traders in view of the poor situation of the state's economy when he assumed office in 2010.