Industry & Economy
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Taxation
Bangalore Mahanagar Palike move on new trade regime opposed
Our Bureau
Bangalore
,
Sept. 9
SEVERAL associations representing different trade and businesses in Bangalore have formed a joint front to oppose the Bangalore Mahanagar Palike's (BMP) move to impose a trade regime, which they claimed was not tenable under the Karnataka Municipal Corporation Act.
There are more 1.2 lakh registered outlets engaged in different trade and businesses, which under the new proposal, would have to pay Rs 200-5,000 per establishment in the retail and wholesale trade.
In a statement here on Thursday, the Front, consisting of members from 60 trade associations, said that the BMP would benefit to the tune of Rs 135 crore by way of devolution of resources from the State, even if 15 per cent of the Rs 900-crore collection by the State through professional tax and entry tax alone were to be given. The BMP also gets a share from the sales tax and other levies such as like stamp duty, food trade licence, power licence fees, advertisement and singn boards, parking fees and property tax form the traders.
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