Chief Minister N Kiran Kumar Reddy on Friday rejected the demand of textile traders for withdrawal of five percent Value Added Tax (VAT) imposed on textiles.
The Chief Minister stated that the government has imposed the VAT on textile traders having turnovers of over Rs 10 crores. He said the VAT has been imposed to fund the welfare schemes and programmes launched for poor and downtrodden.
The Chief Minister made this statement when the Textile Traders, who are observing bandh from January 23 to 31st in the State, called on him at his Camp Office on Friday demanding exemption of VAT claiming that it has been adversely affecting their businesses.
Questioning the rationale behind seeking exemption of VAT by big traders, the Chief Minister stated the government has not imposed VAT on the traders whose turnovers are below Rs 5 lakh. The government has imposed one percent VAT on traders having turnovers of Rs 40 lakh, he said.
Stating that the government imposed VAT on the lines of other states, he advised that the big textile houses should not resort to agitations and dharnas seeking exemption from VAT. However, he assured that he would direct the officials not to harass the traders over the VAT.
Dissatisfied with the response from the Chief Minister, the textile traders have decided to continue the agitation and would meet soon to decide the future course of action. (INN)
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