Summary:
Vijayawada: AP minister for finance, Yanamala Ramakrishnudu, on Saturday opposed the GST proposal to increase tax on rough mined stones from 5% to 12%.Speaking at the 28th meeting of the GST Council in New Delhi, he said that Andhra Pradesh is not in favour of increasing tax on the rough stones, including Napa Slab stones. However, he supported the move to bring down the tax rate from 18% 12% on other stone varieties such as cut and worked up Kota stone, sand stone, and similar local stones. However, the residual AP, with 58% of population of united AP, is getting just Rs 1,512 crore only, he said. The Telangana state, with 42% population of undivided state, is getting Rs 1,811 crore average revenue per month, because of Hyderabad city. He said that the cut in the tax of these stones will benefits lakhs of people across the country.Ramakrishnudu supported the move to enhance the limit of value of footwear from Rs 500 to Rs 1,000 at 5% tax rate..