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Andhra wants lower tax rates on tractors, fertilisers

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The Andhra Pradesh government has requested the Centre to take steps for lowering the goods and services tax(GST) rates on ten categories of goodsand services, including tractors, fertilisers, and cashew nut kernels, stating the new rates would increase the tax burden on these items.State Finance Minister, Yanamala Ramakrishnudu, has written a letter to Union Finance Minister Arun Jaitley citing the concerns of trade on industry.According to the minister, the GST rates on these items are far higher than the combined rate of the existing state and Central taxes. The minister informed that the guiding principle in fixing the GST rates was that it should not exceed the combined rate of VAT, Central Excise/Service Tax, lest it would trigger inflation and hardship to the consumers.

Business Standard New Delhi, 03rd June 2017

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