TIMES NEWS NETWORK
18 Feb, 2007 0151hrs IST
HUBLI: The Karnataka Chamber of Commerce and Industry has demanded that the stage government should take immediate steps to establish a special economic zone for information technology sector in Hubli for the overall development of North Karnataka.
In a pre-budget consultation meeting with deputy chief minister and finance minister B S Yediyurappa held here on Saturday, KCCI president Shankaranna Munavalli stressed the need to create investor-friendly conditions to attract big industries to the region.
Munavalli also sought early acquisition of 650 acres of additional land for the development of Hubli airport, an open heart surgery facilities at Karnataka Institute of Medical Science, Hubli and construction of the much delayed Outer Ring Road to take care of infrastructure bottlenecks.
The KCCI president said apart from improving the general power supply situation in North Karnataka and irrigation facilities in the Krishna basin district, development of Karwar Port was also essential to boost trade and exports from the region in the longrun.
He lamented that despite huge investments to computerise tax administration in the country, the website of the empowered committee on VAT was either not operative or was not regularly updated.
As a result that traders remained ignorant about latest changes in tax laws. He demanded reduction in VAT rates from 12.5 per cent to 4 per cent on PVC pipes, CFL bulbs, dry grapes, biscuits and sweets, coconut oil, brass copper and stainless steel utensils, industrial inputs and ghee, and total VAT exemption for tamarind, chilli, school bags and husk of groundnut, paddy, and karadi.
In a pre-budget consultation meeting with deputy chief minister and finance minister B S Yediyurappa held here on Saturday, KCCI president Shankaranna Munavalli stressed the need to create investor-friendly conditions to attract big industries to the region.
Munavalli also sought early acquisition of 650 acres of additional land for the development of Hubli airport, an open heart surgery facilities at Karnataka Institute of Medical Science, Hubli and construction of the much delayed Outer Ring Road to take care of infrastructure bottlenecks.
The KCCI president said apart from improving the general power supply situation in North Karnataka and irrigation facilities in the Krishna basin district, development of Karwar Port was also essential to boost trade and exports from the region in the longrun.
He lamented that despite huge investments to computerise tax administration in the country, the website of the empowered committee on VAT was either not operative or was not regularly updated.
As a result that traders remained ignorant about latest changes in tax laws. He demanded reduction in VAT rates from 12.5 per cent to 4 per cent on PVC pipes, CFL bulbs, dry grapes, biscuits and sweets, coconut oil, brass copper and stainless steel utensils, industrial inputs and ghee, and total VAT exemption for tamarind, chilli, school bags and husk of groundnut, paddy, and karadi.
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