AP Assembly passes Tax Amendment Bills
Amaravati: The State Assembly on Thursday passed by voice vote the Andhra Pradesh Value Added Tax (Amendment) Bill, 2021 and the Andhra Pradesh Goods and Services Tax (Amendment) Bill, 2021.
Moving the bill, Finance Minister Buggana Rajendranath Reddy said under the Andhra Pradesh Value Added Tax Act, 2005, liquor for human consumption is taxed presently at the rates ranging from 130% to 190% and added that the Telangana has reduced the VAT rate to a flat 70% on all categories of liquor for human consumption during 2016.
The Minister said in order to bring about parity in levy of VAT with the neighbouring States, it has been decided to rationalise the rates of VAT on various categories of liquor for human consumption in the State and hence brought in Andhra Pradesh Value Added Tax (Amendment) Bill, 2021 to reduce the VAT rates on alcoholic beverages.
However, the reduction is not being transferred to the consumer as the Excise department had recently issued a GO saying that MRP of liquor will remain unchanged.
Though the VAT slabs have been reduced to bring parity with other States, the government decided to levy a special margin which was equivalent to the VAT that has been reduced.
Referring to the Andhra Pradesh Goods and Services Tax (Amendment) Bill, 2021, the Finance Minister said Goods and Services Tax provides for levy and collection of taxes on intra-state supply of goods and services by the State Government and the amendments are being made for checking tax evasion or to reduce the compliance burden of the taxpayers.
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