Karnataka - Mangalore   

KCCI seeks reduction in tax on cars

MANGALORE: Kanara Chamber of Commerce and Industry (KCCI) has urged Chief Minister B.S. Yeddyurappa to reduce lifetime tax on cars.

In a pre-budget memorandum, KCCI president Srinivas Kamath sought reduction of VAT on cars. He demanded that taxes on petrol and diesel be on a par with neighbouring States. The road tax for tourist buses should also be on a par with neighbouring States, he added.

Mr. Kamath has sought introduction of a slab system in the fee structure for land and building registration comprising 2 per cent, 4 per cent and 6 per cent, and exemption from this to for buildings valued up to Rs. 5 lakh.

In a separate memorandum to Prime Minister Manmohan Singh, Mr. Kamath has sought a depreciation of 30 per cent on cars, and a depreciation of 40 per cent on commercial vehicles, reduction of excise duty on steel, cement, sanitaryware, steel furniture, white goods and small cars below 10 hp, to boost consumption. He has sought the Union Government for another reduction in petrol and diesel prices by Rs. 5 and Rs. 2 a litre, respectively, to give a fillip to transport industry.

Printer friendly page  
Send this article to Friends by E-Mail

Stories in this Section

Fishing out dietary alternatives
Bangarappa will be an asset, says Deshpande
BJP nominee
Quality tag for Indian vanilla soon
KCCI seeks reduction in tax on cars
Over 600 students learn about robots at NIT-K

Copyright © 2009, The Hindu. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu