Telangana: KTR Rao writes to Union Min Ravi Shankar Prasad seeking relief for IT sector

Telangana's Information & Techlogy Minister KT Rama Rao wrote to Union Minister Ravi Shankar Pras on Friday, May 1 asking for help in sustaining state's IT sector and creating safer workplaces in wake of COVID-19 pandemic. Rao put forward request to provide relief to SMEs in IT sector in coordination with Union Ministery of Finance.

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Rao asks for reliefs for SMEs

letter re, " IT Industry in Hyderab employs over 6 lakh people and as a result of COVID-19, re seems to marginal or impact on larger companies. However, SMEs in IT sector have been hard hit and re have been some layoffs. To help m recover quickly and continue through this distress and severe cash flow issues, expedite IT and GST (CGST and SGST) refunds. For any Income Tax dues at or below Rs 25 lakhs to MSMEs for year 2018 -19, release whole amount immediately. For any Income Tax dues above Rs 25 lakhs, on a slab basis, release 50% of accumulated TDS credits as per 26 AS."

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"In initial days due to confusion, a lot of companies paid several crores of rupees under various hes a later y got clarity on ways of payment & justments. Recently Finance Minister said any such dues will be cleared in 30 days but this needs to be expedited. If y are t cleared, y should be me available at least as credits to be used for future GST payments (sic)," Rao continued in letter.

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