High level committee to take up study and propose recommendations
Hyderabad, October 11, 2006The State Government plans to bring products in the Information Technology sector into the tax net. The Government has appointed a high level committee headed by K Ratna Prabha, Secretary, Information Technology to look into the issue and suggest guidelines to be adopted for levy tax on software products.
Before finalizing, the committee has been asked to consult with the IT industry within the framework of the Supreme Court's judgment on the issue. The Chief Minister Dr. YS Rajasekhara Reddy disclosed the same while reviewing the activities by Commercial Taxes and Excise departments at a meeting on Wednesday.
The Commercial Taxes Minister, K Ramakrishna said that the Government has no plans to change the present VAT slab rates but offered to reduce the rate to four per cent from the existing 12.5 per cent on industrial (manufacturing) inputs if the industry came out with a plea after identifying these products.
This is an archive news page about an event that happened in the past. The News / Information might have changed in subsequent days as news gets developed. This page exists for referance purpose only.
Join Discussions on AndhraNews.com