Live
- 29 sitting MLAs defeated in Jharkhand, 40 familiar faces to be absent from Assembly this time
- No cure for such mindset: BJP leader slams Shiv Sena(UBT) over Maha mandate remarks
- BGT 2024-25: Take great pride in performing for my country, says Virat Kohli
- Central Government Holds All-Party Meeting Ahead of Winter Parliament Session
- ‘Vashistha’ Movie Launched with Grand Pooja Ceremony
- Cinematica Expo’s Third Edition Set to Be Bigger and Better: P.G. Vinda’s Vision for Film Industry Growth
- BGT 2024-25: Virat Kohli hits 30th Test hundred as India set a target of 534 for Australia
- Sambhal stone-pelting accused will face strict action, says BJP
- Man smashes Ola scooter after receiving Rs 90,000 bill for repairs
- Ajit Pawar elected as leader of NCP in Maha Assembly
Deadlock on sharing Input Tax by T, AP
Deadlock on sharing Input Tax by T, AP, The two governments, Telangana and Andhra Pradesh, are set to lock horns on the issue of Input Tax Credit.
- So far, both govts have no clarity on the issue
- Rs 1,293 crore tax remains to be shared between two states
- AP says no to 42:58 per cent sharing
Hyderabad: The two governments, Telangana and Andhra Pradesh, are set to lock horns on the issue of Input Tax Credit. Though both the States came into existence on June 2, so far there is no clarity on the issue of sharing of Input Tax Credit. Files pertaining to Input Tax continue to make rounds in the offices of both the governments.
The AP government, it is learnt, has not agreed to the proposal of Telangana that the Input Tax Credit should be shared as per the ratio of 42:58 per cent. The tax of about Rs 1,293 crore collected during the last phase of the united State government remains to be shared between the present governments. The matter, according to officials, was referred to the Chief Secretaries of both the States but so far no final decision on the issue has been taken.
Apart from population, another factor that has cropped up in is the registration of the companies. If the registration of companies is considered as one of the factors, it would impact the ratio of division. Both the Principal Secretaries and Chief Secretaries have already gone through the files but it appears that both sides are not able to arrive at any consensus on the issue. As a result, both the governments have decided to convene a meeting of the Commissioners of Commercial Tax to resolve the issue.
