Hyderabad: The Telangana Assembly on Wednesday passed a Bill reducing the Value Added Tax to 5% from 14.5% on cell phones.
Introducing the Bill in the Assembly, Minister Talasani Srinivas Yadav said that the aim of reducing VAT on mobiles by 9% would help the state in curbing the state’s revenue diversion to neighbouring states due to higher taxes.
He said that the state would gain Rs. 5 crores due to reduction in VAT on mobile phones. Opposition parties also supported the Bill to seeking VAT reduction stating that the move will benefit the common people. (INN)