NewsX: While clear signals are emerging from New Delhi on the possibility of Hyderabad becoming Union Territory (UT), experts said there won't be much change in the life of the common man as the taxation system will remain the same, but they will definitely miss the fervor of voting in assembly polls.
Belying a general feeling prevailing among denizens that commodities like liquor, petroleum products and consumer goods would be cheaper in the city if it acquires UT status, experts said there is no special provision under law for discounted rates.
"The rates on local and central taxes are similar to any other state in a UT. Normally, a UT adapts the Local Tax Act of a neighboring state and there would be no change in the central taxes," said PV Subba Rao, a retired commercial tax commissioner and practising tax consultant.
In case Hyderabad is made a common capital of Telangana and Rayalaseema as it is being rumoured, the city would adapt the Value Added Tax Act of any one of the state, Subba Rao said. And the other levies including excise duty, entertainment tax and motor vehicle tax would be as per the state law.
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