BSY levies more taxes

5
belagavi

Karnataka Chief Minister B.S. Yeddyurappa Thursday presented a surplus budget for fiscal 2011-12.

Main highlights:

VAT on Gold increased to 2% from 1%

Increase in the VAT rate on goods currently taxable at 13.5 % to 14 %.

Reduction of tax to 5 % on school bags of prices upto Rs.500.

Reduction of tax on all kitchen utensils from 13.5 % to 5 %.

Increase in the turnover limit for compulsory audit of accounts of dealers from 60 lakh rupees to 1 Crore rupees.

What Belgaum District got:

Rs.2.5 crore for development of Sugarcane Research Institute at Mandya and Belgaum.

 

Rs.5 crores for construction of a Glass House in memory of the Vishwa Kannada Sammelana held at Belgaum in March 2011.

 

Rs.138 crores provided to complete the ongoing works relating to Suvarna Soudha in Belgaum.

 

belagavi

5 COMMENTS

  1. good one for farmers ,,,
    loan upto 3 lakhs at the rate of 1%…. is a very good move, uday didnt mention it here (we too have farmers in Belgaum),,,

    And for Belgaum we got few added benefits ,,,

    appreciate it.

  2. wats d use of Glass house??? wen u r destructin houses f ppl by destroyin their livelihood !!!
    no sense at all ….

  3. Well…with the rate of corruption going on..the tax is jus a few penuts..haha..he has to feed his relatives with the tax increase..is he gonna cry again…like a beggar…I will bet one ruppee he will…I cannot belive people are still in denial. Just watch how hard life is gonna be.
    Jay

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