Cashew industry relieved at VAT relief

The members of the Karnataka Cashew Manufacturers Association (KCMA) has welcomed the state government's decision to provide relief to cashew industry by reducing VAT on cashew kernels from 12.5 per cent to 4 per cent

In a release from Kalbavi Prakash Rao, president, KCMA, the association has thanked the chief minister and the deputy chief minister for the move.

The move has brought the industry on a par with the neighbouring cashew processing states like Goa and Maharashtra where VAT is 4 per cent. The association had made several representations and had met the finance minister to prevail upon him to cut VAT.