Textile traders felicitate CM for VAT rollback

The Andhra Pradesh Federation of Textile Associations (APFTA) has felicitated Chief Minister Kiran Kumar Reddy in the wake of his recent decision to rollback VAT on textile business. Members of affiliated cloth associations from 23 districts took part in the meeting held at LB stadium on Saturday. Addressing the gathering Kiran Kumar Reddy pointed out that he had no intentions to trouble the cloth merchants by levying tax. He reminded that government has been implementing various welfare schemes in the State. VAT on textiles was looked at as one of the sources for revenue generation initially, he added. "However after getting to know about the problems of small time traders, the government constituted a cabinet sub-committee to examine the issue in detail. Following the recommendations of ministers, the government took decision not to burden the cloth merchants with VAT," Kiran Kumar Reddy said.