Live
- Bihar bypolls: NDA bags all four seats, Mahagathbandhan suffers big defeat
- Assam bypolls: BJP-led alliance set to win all five seats
- Shinkansen services near Tokyo delayed due to maintenance problem
- India sees over 226 pc surge in startup funding at $596 mn this week
- iPhone 15 Pro Max Hits Lowest Price on Amazon – Check
- 178 Drivers turned up on the first day for and Eye Check-up Camp hosted by the IRB Golconda Expressway
- A star beyond the screen celebrates another year of excellence
- Russell stunned with pole in Las Vegas, says 'Got to deep dive into why we’re so quick'
- BJP hijacked electoral machinery for securing victory in Maharashtra: Cong
- Guwahati to host Indian National Rally Sprint Championship on Sunday
Karnataka: Trade body gets relief as government extends deadline for property tax payment
Representational image
Conceding some of the demands made by the Federation of Karnataka Chambers of Commerce and Industry (FKCCI), it is learnt that the State government has extended the last date for payment of property tax with 5% rebate till June 30.
Bengaluru: Conceding some of the demands made by the Federation of Karnataka Chambers of Commerce and Industry (FKCCI), it is learnt that the State government has extended the last date for payment of property tax with 5% rebate till June 30. The dates to file the GST, IT returns have also been extended. The trade body said that on their request the State government has waived the fixed charges in power bills for May and June for MSMEs.
"FKCCI has requested for a similar exemption – waiver of fixed charges - for other service establishments like hotel & hospitality sector, educational institutions etc. We urge the government of Karnataka to consider these also. Based on the request from FKCCI, Karnataka has allowed 'net metering' for solar energy up to 10 KW. It has also extended the time for the sale and operation of essential commodities including APMCs by 4 hours from 6.00 am to 2.00 pm from the earlier 6.00 am to 10.00 am," Perikal M Sundar, president, FKCCI said. The Karnataka State Pollution Control Board (KSPCB) also has extended time for payment of fees for obtaining Consent for Operation and Consent for Establishment and the Karnataka Electricity Regulatory Commission (KERC) has agreed to give incentives to the industry.
"FKCCI strongly recommends reduction of power tax from 9% to 3% so that power cost per unit will come down to around 42 paise which will mitigate the negative effect of power tariff hike allowed by KERC. This will help the consumers, particularly industries, and attract investments.
The loss incurred by the trade and business community during this lockdown period is around Rs.75,000 crore and the loss of revenue to the State is around Rs.10,000 crore per month," Sundar said.
The trade body has requested the government to allow opening of shops in the central business districts.
The shops and establishments in the State should be allowed to open from 6 am to 2 pm to support MSMEs and industries to function smoothly, he said.
"At present the cost of raw materials have doubled; steel prices have increased from Rs.40,000 to Rs.80,000 per MT, petrol and diesel now costs Rs.100 and Rs.92 a litre respectively. With these costs increasing the trade & industry will not be able to sustain and maintain their industry/businesses by incurring loss of revenue due to the lockdown and to continue to make payment for wages, loan repayment, maintenance of establishment etc., unless the government comes forward with a package of special schemes and assistance," Sundar FKCCI has suggested that both the Union and the State governments reduce excise duty and tax to about 15% on petrol and diesel which will reduce cost of transportation, raw material and reduces the burden on common man.
