Karnataka has already highest Vat rates and Hon'ble C.M. has enhanced vat rates from 13.5 to 14% and on gold jewellery from 1 to 2 % which seems as a unhealthy step..Last year 1% vat rates were increased with this assurance that next year GST will come hence it was just for a year,,Infact trade & industry were expecting that 1% hike made last year will be withdrawn..No reference has been made to switch over to GST regime..We welcome the enhancement made in vat audit limit from RUPEES 60 lakhs to 1 crore which will motivate the small & medium traders to pay more vat to the exchequer..
Bangalore gets the few sops in infrastructure development which is the need of the day.. We appreciate SRI B.S.YEDDYURAPPA JI for allocating the huge amount for our city..Farmers get the max as expected..E documentation of land records is a good move..
Thanks a lot..
SAJJAN RAJ MEHTA
MEMBER..STATE TAXES COMMITTEE..FKCCI
IPP..KARNATAKA HOSIERY & GARMENT ASSN.