Financial Daily from THE HINDU group of publications
Wednesday, Jul 21, 2004
Financial Daily from THE HINDU group of publications Wednesday, Jul 21, 2004 |
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Info-Tech
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Taxation ST hike: Karnataka IT dealers' bandh today Our Bureau
Old computers being junked for new systems: The higher sales tax announced in the Karnataka Budget will make replacements dearer. — G.R.N. Somashekar
Bangalore , July 20 THE IT industry, leaving apart the software services and the IT-enabled services firms, have called for a "IT Channels Bandh" on Wednesday to protest the State Government's move to hike sales tax to 12 per cent from the present five per cent. Vendors of IT products, computer hardware, distributors, manufacturers and resellers would be participating in the bandh all over the State, said Mr Kollur Dhananjay, President, Association for Information Technology (AIT). "We will submit a memorandum to the Chief Minister, Mr N. Dharam Singh, to withdraw this steep hike in sales tax," Mr Dhananjay said. About 1,600 dealers of IT products in Bangalore and 2,000 across the State would be participating in the bandh by closing down their operations. The effective hike in proposed sales tax amounts to almost 13.8 per cent as it also includes a 15 per cent cess on ST and a turnover tax of about 1 per cent.
More Stories on : Taxation | Budget | Karnataka
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