Karnataka grants Rs 80 cr tax concession to Toyota

Karnataka Government today extended tax concessions upto Rs 80 crore for a three year period to Toyota Kirloskar, which is expanding its manufacturing facility at Bidadi on city outskirts.   

Toyota Kirloskar, as part of its expansion plans to set up a small and compact car manufacturing unit, would invest about Rs 4,000 crore, creating 2,000 jobs, Home Miniser Dr V S Acharya told reporters after a cabinet briefing.   

The firm, which already has a manufacturing facility, will get exemption from entry tax and other benefits for its expanded unit, he said.