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Hyderabad, March 17 The Andhra Pradesh Cabinet on Monday approved the lowering of sales tax (ST) from 33 per cent to 4 per cent on aviation turbine fuel (ATF) along with bringing down professional tax from 14 to 4 per cent. The professional tax cut is set to benefit about 10 lakh employees.

The lower ST on ATF was announced recently by the Chief Minister, Dr Y.S. Rajasekhara Reddy, and has now received Cabinet nod. According to Government sources, the Cabinet also approved the dissolution of Hyderabad Urban Development Authority and creation of Hyderabad Metro Development Authority to govern the urban area in and around Hyderabad.

As per projections, it is estimated that the Hyderabad Metro will have a population of about 135 lakh by 2021, up from 67 lakh now. As per plans, it is proposed to make Hyderabad fifth major metropolitan in the country by 2021.

More Stories on : Taxation | Petroleum | Andhra Pradesh

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