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Plea to suspend GO on ST hike

HYDERABAD: Mr Nitin K. Parekh, Chairman of the Trade & Commerce Committee of the Federation of Andhra Pradesh Chambers of Commerce & Industry (FAPCCI), has requested the State Government to suspend the orders hiking the sales tax rates on some commoditie s with retrospective effect from November 15.

In a statement, he said the sudden increase in the rates of ST on electrical bulbs, tubes, plywood, paints, AC sheets, clocks and readymade garments by the Commercial Taxes Department had negated the concept of rationalisation.

He felt that the change in the tax rates in the middle of the year amounted to ad hocism which in revenue terms was neither helpful to traders nor to the State. Further, the delay in informing the public of the hike had caused loss and hardship to the tr ade and industry, he added. -- Our Bureau