I am planning to purchase Sony bravia KD-43X75 android tv, but I noticed that it only supports Dolby Digit and has no support for DTS. I don't want to re-encode audio just to play on my android tv. Is there a way to play these (or most) audio formats on the tv?
It depends on what you want to achieve. The description is not complete at all.
If it is just about being able to play anything in stereo only, using a player like VLC would do the trick.
How do you know it doesn't support DTS?
Most newer devcies don't support DTS, I know Nvidia Shield and MiBox S pass it through. Plex and Kodi will both trascode it quite easily though. No reason to reencode them.
Can always invest in a SoundBar that supports all formats, usually way cheaper than a full Multi-Channel AVR setup; even though Sony generally doesn't use cheap speakers, they are the weak spot of any and all new flat panel TV's.