AP govt slashes VAT on aviation fuel

Hyderabad, Mar 17 (UNI) The Andhra Pradesh Cabinet today gave its approval for reducing the Value Added Tax (VAT) on aviation fuel from 33 per cent to four per cent.

The decision was taken at a cabinet meeting, chaired by Chief Minister Y S Rajasekhara Reddy to develop Hyderabad into an aviation hub in the country, official sources said.

The cabinet also gave the green signal for modifying the schedule for reducing VAT from 12.5 per cent to four per cent on Sircila Cooperative Supply Society, they said.

The cabinet also approved a Draft Bill to reduce the Professional Tax from 14 per cent to four per cent. The decision would benefit ten lakh employees.

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