Removal of VAT on co-op societies being discussed: AP Minister
July, 17th 2012
Andhra Pradesh Minister for Cooperatives Kasu Venkata Krishna Reddy today said he had taken up the issue of removal of VAT on cooperative societies with the Chief Minister. Addressing members of Primary Agricultural Cooperative Societies (PACS) and banks at a conference here, he said he had discussed the issue with Chief Minister N Kiran Kumar Reddy, and was expecting a positive outcome.
The Minister assured that he would also pursue the demand of exemption from income tax with the Centre. Elections to the cooperative societies will be held soon, he said. Minister for Ports and Infrastructure, Ganta Srinivasa Rao, admitted that the cooperative sector was facing problems in the state. Of the 98 PACS in the state, only forty societies were making profit, he said.