Breather for VAT traders in cyclone-hit areas of AP
October, 28th 2014
There is a good news for those under VAT (value added tax) bracket in the cyclone-affected areas in north coastal districts of Andhra Pradesh as the State Government has extended the deadline for filing returns and paying taxes by a month.
Traders generally file their returns and pay taxes for the month of September by the end of October 31. They can now file their returns and pay taxes by November 30.
“No penalty and interest will be imposed for the delay in filing the returns and remitting taxes,” a Government release said here on Sunday.
The devastating HudHud cyclone had hit the normal life and business activity in Visakhapatnam, Vizianagaram and Srikakulam districts for over 10 days.
Non-Plan expenditure cut
Meanwhile, the State’s Finance Ministry has decided to cut the non-Plan expenditure by 20 per cent. “However, there will not be any cut in respect of important expenditure in the form of salaries, professional services, contract services, stipends and scholarships,” the statement said.