The Hindu : Karnataka / Bangalore News : FKCCI calls for reduction of State taxes on petro products

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Tuesday, Jun 28, 2011
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Karnataka

Karnataka - Bangalore

FKCCI calls for reduction of State taxes on petro products

Special Correspondent

BANGALORE: The Federation of Karnataka Chambers of Commerce and Industry (FKCCI) on Monday urged the State Government to reduce the rates of the Value Added Tax (VAT) and Entry Tax on oil products sold in the State. A statement issued by the industry body said it is “disturbed” by the recent increase in the price of diesel, Liquefied Petroleum Gas and kerosene announced by the Union Government.

The FKCCI pointed out that the West Bengal Government had brought down the VAT rate on LPG from four per cent to zero, which meant that a cooking gas cylinder in the State would cost Rs. 399 instead of Rs. 415.

Similarly, the Haryana Government had waived the five per cent VAT on kerosene, which resulted in the fuel being cheaper by 79 paise per litre. The VAT on LPG had been waived by the Haryana Government in 2008, the FKCCI pointed out.

The FKCCI urged the State Government to adopt similar measures in order “to provide some relief to the common man”.

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