Tax collection at a new high: CM

BANGALORE: The state government has witnessed 20 per cent growth in commercial tax, as all the dealers are filing returns online. Speaking after presenting his maiden Budget, Chief Minister D

Published: 22nd March 2012 02:09 AM  |   Last Updated: 16th May 2012 06:40 PM   |  A+A-

1-TAX

Illustration: Srinidhi Odilnala

BANGALORE: The state government has witnessed 20 per cent growth in commercial tax, as all the dealers are filing returns online. Speaking after presenting his maiden Budget, Chief Minister D V Sadananda Gowda said the anticipated collection for the year is Rs 27,250 crore, which is Rs 550 crore more than previous year.

He added that e-payment system was well accepted and more than 80 per cent of tax payments were made through e-payment.

Rolling back several tax reliefs under VAT,   exemption on paddy, rice, wheat, pulses will continue for one more year, he said.

Among others, chief minister informed that tax on gold jewellery is reduced from two  per cent to one per cent.

Other Salient Features

■ Tax on furnace oil sold to foreign countries is reduced from 14 per cent to one per cent.

■ Additional 5 per cent VAT will be levied on beedies, plastic woven fabrics and cigarettes. Also, tax on other tobacco products has been increased to 17 per cent.

■ Sales tax on diesel is reduced by 1.25 per cent and tax on high speed diesel going  to foreign countries has been reduced from 18 per cent to just one per cent.

■ Proposal to levy 10 per cent luxury tax on convention centres and 10 per cent on luxuries provided in seminar halls and others.

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