Bengaluru: Mobile phone chargers, footwear, wick stoves, mats, industrial cables and solar panels will become cheaper in Karnataka from April onwards.
The relief to consumers and industrial users came as the state budget for the ensuing fiscal (2015-16) on Friday proposed to reduce or exempt value added tax (VAT) on them.
"I propose to exempt footwear costing up to Rs.500 per pair and hand-made products like floor mats, table mats, runners and utility bags made of banana fibre from value added tax (VAT) and reduce it (VAT) on mobile phone chargers and wick stoves to 5.5 percent from 14.5 percent," Chief Minister Siddaramaiah said here while presenting the budget.
The reduction on wick stoves will benefit the poorer sections of society which use kerosene as fuel.
To promote solar energy generation in the state, the chief minister has proposed to exempt certain solar photo voltaic panels and solar inverters from VAT.
Paddy, rice, wheat, pulses and their products will continue to be exempted in the new fiscal.
In a relief to small traders, the registration limit has been increased to Rs.10 lakh from Rs.7.5 lakh.
VAT on manufactured sand and its machinery or equipment will be reduced to 5.5 percent to encourage setting up of units as a viable alternative to mining sand from the riverbed.
"VAT on industrial cables such as high voltage cables, jelly filled cables, optical fibre cables, XLPE (cross-linked polyethylene) insulated cables and PVC (Polyvinyl Chloride) insulated cables will be reduced to 5.5 percent, conceding the long pending request from the electrical industry," he said during his 90-minute budget presentation.
The chief minister, who spoke in Kannada, also proposed to reduce the age criteria for senior citizens to 60 years from 65 years to extend exemption benefits on paying profession tax. He also extended the exemption benefits to employees drawing a salary of Rs.15,000 as against the present limit of Rs.10,000 per month.
The replanting allowance has been increased to Rs.2,050 from Rs.900 per tonne coffee produced in view of the escalation in replantation expenditure incurred by coffee planters.
Comments
| Quick linksNews
National
International
Regional
Politics
Education & Career
Business
Science & Technology
Health
Views & Analysis
The Funny Side
© 2012 Awaz Multimedia & Publications. All rights reserved.
Special Judge Bharat Parashar, after taking cognizance of Central Bureau of Investigation (CBI) final report in the case, also summoned Hindalco officials Shubendu Amitabh and D. Bhattacharya on April 8. . .... More
Also Read: Upset, but sure truth will prevail: Manmohan Singh on court summons
While the firm announced the move is because of his age as Facebook requires users to be at least 13- years-old, Pearson believes the social media site has singled him out, NY Daily News reported.. .... More
40% of meat consumed locally, rest all are exported to other countries, a study by ummid.com reveals
The study also found that except for Allana Sons, a 1969 company which has a major share in frozen meat export from India, and few other smaller players who are Muslims, majority of meat exporters and owners of modern abattoirs, and those associated with other related industries like bone, leather ....... More
Assam's man lynched in the most barbaric manner, national media played irresponsibly
Was the victim holy? Was he innocent? We cannot claim anything with certainty. The Indian criminal court is the only right authority to pass a judgment on this in due time. But with whatever hard and ....... More
The National Student's Federation (NSF) organised the formation of a human shield on Friday, the demonstration is an attempt to promote interfaith coexistence and cooperation among different religious and ethnic groups in Pakistan, Dawn reported. .... More
After humiliating the Muslim NGOs and calling all their leaders fool, Zafar Sareshwala is now trying to convince All Indian Muslim Personal Law Board (AIMPLB) President Rabey Hasani Nadwi for a meeting of the senior members of the highest body . .... More
While the firm announced the move is because of his age as Facebook requires users to be at least 13- years-old, Pearson believes the social media site has singled him out, NY Daily News reported.. .... More
Also Read: 8th All India Holy Quran competition opens at Jamia Islamiya Akkalkuwa