VIJAYAWADA: Andhra Pradesh government has sought interim reduction in interest rates and late fee to be paid by traders because of hardships they are facing due to coronavirus.
Minister for finance Buggana Rajendranath attended the GST Council meeting chaired by the Union minister for finance Nirmala Sitharaman virtually on Friday.
Speaking on the occasion, Rajendranath also sought temporary suspension of the decision to enhance tax on footwear and garments industries due to the inverted rate as they were facing additional burden. He asked the Centre to extend financial help to the states generously and release all dues to enable them combat Covid more effectively.
The meeting discussed at length on giving exemption on imposition of customs duty and IGST on Covid-related equipment and it was suggested that in case any such equipment was donated by other countries, with the approval from the concerned nodal officer, it could be given. The meeting also discussed how states were losing the authority to impose taxes due to the imposition of GST and were relying more on a rise in taxes on fuels and excise duty, to enhance sources of income through taxes.
