KERALA BUDGET 2014 - MANI EYES SMOKERS, REVERSES AUTO TAX
KERALA BUDGET 2014 - MANI EYES SMOKERS, REVERSES AUTO TAX
Thiruvananthapuram: Finance Minister KM Mani on Wednesday withdrew a host of tax porposals but added a significant one.
The minister has proposed to increase tax on cigarettes from the existing 20% to 22%, citing the example of Karnataka. This, Mani claims, would fetch the state additional revenue of Rs. 25 Crore.
But the state finance minister backtracked on increasing lump sum tax on auto rickshaws from Rs.2,000 to Rs.2,500. The decision would slash Rs.25 crore from the revenue for the 2014-15 fiscal.
Mani also abandoned the move to penalise merchants and traders who refused to issue purchase bills above Rs.5000.
Mani said higher tax proposed for food would apply only to five-star hotels, a move that will take away Rs.15 crore from the proposed annual revenue.
Thiruvananthapuram: Finance Minister KM Mani on Wednesday withdrew a host of tax porposals but added a significant one.
The minister has proposed to increase tax on cigarettes from the existing 20% to 22%, citing the example of Karnataka. This, Mani claims, would fetch the state additional revenue of Rs. 25 Crore.
But the state finance minister backtracked on increasing lump sum tax on auto rickshaws from Rs.2,000 to Rs.2,500. The decision would slash Rs.25 crore from the revenue for the 2014-15 fiscal.
Mani also abandoned the move to penalise merchants and traders who refused to issue purchase bills above Rs.5000.
Mani said higher tax proposed for food would apply only to five-star hotels, a move that will take away Rs.15 crore from the proposed annual revenue.
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