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Entry tax sop welcomed

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Our Bureau Bangalore
IT firms and industry lobby welcomed the Karnataka government's notification reinstating exemptions to the IT and BT industry under the Karnataka Special Entry Tax.
 
Nasscom chairman Jerry Rao said, "This is indeed a welcome move and we, as an industry, are grateful to the chief minister and deputy chief minister of Karnataka."
 
Nandan M Nilekani, president, managing director and CEO, Infosys Technologies added, "The Karnataka government has responded favourably to the requests of the IT and BT industry in reinstating the exemptions. This demonstrates the government's commitments to the IT and BT industry and enhances Bangalore's status as a global technology city. With the government's increased focus on infrastructure, we hope it will lead to greater investments flowing into the state."
 
The Karnataka Special Tax on Entry of Certain Goods Act, 2004, came into effect on September 20. Under the act, the state government can tax the entry of any notified goods.
 
The rate of tax will be the rate specified under the Karnataka Sales Tax Act, 1957 for such notified goods. The 'importer' of notified goods will be liable for payment of the tax.
 
Goods that can be taxed include computers, computer peripherals and software and bio-tech, petroleum products, electrical goods, electronic goods, fireworks, furniture, earth moving equipment, rubber tyres, paints, sanitary fittings, flooring stones, X-ray apparatus and equipment, lifts, elevators and escalators, aluminum structurals, glass sheets, films "" cinema (raw) and photographic films.

 
 

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First Published: Jan 10 2005 | 12:00 AM IST

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