VIJAYAWADA: The Chamber of Commerce and Industry (CCI) has appealed to the Centre to allow five-year tax exemption of Central Sales Tax on the inter-state trade and commerce between Telangana and Andhra Pradesh states.
At a meeting here Sunday, Indian Chamber of Commerce president (Guntur) A Anjaneyulu pointed out that 85 per cent of goods were being manufactured in Telangana and 15 per cent in AP due to which the traders were facing tax issues. He said that the CCI was planning to form a committee for focusing on the traders’ grievances, arising from state bifurcation.
Vijayawada Chamber of Commerce and Industry (VCCI) president Vakkalagadda Bhaskara Rao said that there was a need for the formation of new federation in the state since the Federation of Andhra Pradesh chambers of Commerce Industry (FAPCCI)-Hyderabad was dominated by the Telangana industrialists. “By conducting meetings in all the 13 districts, we will discuss the formation of new FAPCCI in the state.”
VCCI general secretary Annavarapu Venkata Koteswara Rao said that they would hold a conference this month with all the traders from AP and threatened to launch protests if their demands were not fulfilled.