Andhra Pradesh Textile traders are felicitating Kiran Kumar Reddy, Chief Minister of the State for removing Value Added Tax (VAT) completely on textiles. The traders of the textiles are showing their gratitude and happiness over the settlement of the issue that has been fought for a long time. The occasion will take place at 4.00 pm today at LB Stadium.

The long fought case for the reversal of 5% VAT imposed by the Government in 2011 was half won when Anam Ramanarayan Reddy recommended total lifting of Vat to the Chief Minister after holding talks with the Textile Federation of Textile Association.

Although a total due of 9000 crores of Rupees are lost with the decision, it is also considered that the neighboring States are not collecting VAT on textiles and common man is burdened because of the VAT charged on textiles.

Finally, a decision is taken by Kiran Kumar Reddy to reverse VAT was totally on April 28th to the relief of the Textile Traders.

AW-SriJa