Fine tune VAT, stamp duty: FKCCI

The Federation of Karnataka Chambers of Commerce & Industry (FKCCI) in a pre-budget memorandum to the governor has made a pitch to further fine tune the value added tax regime keeping in view the small & medium enterprises in Karnataka.

While a significant part of the memorandum deals with the issues on VAT, the document also urges the authorities to have a look at the existing stamp duty levies on certain industries and have requested the same to be pared.

S S Patil, president, FKCCI, dwelling on the infrastructure issues in the state has called for proactive action in developing and maintaining the highways in the Karnataka on continual basis. "The work on doubling the Bangalore-Mysore railway line and the long-pending Hubli-Ankola line should be speeded up," he further said.

FKCCI has also joined the chorus in the city calling for the continuation of the existing HAL airport for short haul domestic flights and short international flights to Sri Lanka and Maldives, even after the new international airport starts commercial operations from April 2008.

"Airlines should also be permitted to use the defence airports at Bidar and Karwar," he urged the state.