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SMEs in AP seek stamp duty exemption

Our Bureau

HYDERABAD: THE Federation of Andhra Pradesh Industries (FAPI) on Friday appealed to the Chief Minister, Dr Y.S. Rajasekhara Reddy, to exempt the small and medium enterprises (SMEs) from the purview of GO No: 1386 issued on July 16.

According to the FAPI President, Mr B.V. Rama Rao, and Vice-President, Mr G. Venkata Rao, the said GO increased the burden of stamp duty and transfer duty paid by the SMEs on financial deeds and mortgages.

The FAPI submitted to the Chief Minister that the SMEs were struggling to survive in the face of shortage of finance, marketing and other infrastructure facilities, according to a release.

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