Hyderabad, January 25: (Siasat News) Govt. was informed that it may not be possible to exempt 5% VAT on textiles in which case Govt. will loose nearly Rs. 2,000 crore income. Tax officials and financial managers apprised the C.M. of the demand of the textile merchants to exempt VAT on textiles.
Intensification of textile merchants’ agitation has brought this demand to lime light. Textile merchants have resolved to keep their shops closed for a week as a mark of protest against imposition of VAT by the Govt. The cloth merchants have apprehension that they will be covered under the Laws of Income Tax for the first time.
–Siasat News–