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The industrial sector and trade and commerce organisations expressed happiness that the chief minister’s budget proposed to set up a help desk for Goods and Services Tax (GST). They were also happy about the reforms to allot industrial sheds.
Bengaluru Chamber of Industry and Commerce (BCIC) State Taxes Expert Committee Member N R Badrinath welcomed the state government’s proposal to set up a GST helpdesk. He however said that the proposed Karasamadhana scheme (under the Central Sales Tax (CST) provisions to waive 100 percent penalty and interest on payment of full tax on or before 30 October 2018) would be applicable only to assessments / re-assessment completed up to 30 June 2018.
Badrinath added that the move to fast-track assessments with an objective to reduce pendency would be nullified by the advancement of time limit to process the appeals. The government’s plug-and play industrial sheds and skill-training programmes — worth INR 14,000 crore — would create 8 lakh jobs in the Karnataka and act as a catalyst the MSME sector.
FKCCI
The Federation of Karnataka Chambers of Commerce and Industry (FKCCI) welcomed the proposals regarding implementation of Israeli model of agriculture and combating competition from China. FKCCI President Sudhakar S Shetty said that the irrigation process would follow the Israeli model. The first phase of implementation will start in Gadag, Kolar and Koppal districts.
KASSIA
Basavaraj S Javali, the newly-elected President of KASSIA said that the hike in petroleum product prices will surely affect the middle class. The hike in electrical power tariffs will also affect the small and medium enterprises.
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