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KCCI seeks VAT cut on cashew kernels
Our Bureau
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While the cashew-consuming States in the country have reduced VAT to 4 per cent, Karnataka has fixed VAT at 12.5 per cent.
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Mangalore
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March 13
The Kanara Chamber of Commerce and Industry (KCCI), which has submitted a budget wish list to the Karnataka Government, has sought reduction of value-added tax (VAT) on various items, including cashew kernels.
In a memorandum to the Chief Minister, Mr H.D. Kumaraswamy, the KCCI President, Mr A. Srinivasa Rao, said that cashew industry is a major employer and exporter in the coastal belt. Over 35,000 women from weaker sections earn their livelihood from this industry. While the cashew-consuming States in the country have reduced VAT to 4 per cent, Karnataka has fixed VAT at 12.5 per cent. Following this, consumption of cashew has been hit in the State. Cashew industry is facing a marketing crisis, he said.
Requesting the Government reduce the VAT on cashew kernel to 4 per cent, he said this move would encourage the growth of the industry at a greater pace. There are confusions on levying tax on several items, including corrugated boxes, packing materials and electrical insulators.
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