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Thiruvananthapuram, July 24

The Assembly approved changes to the Kerala Finance Bill 2007-08 to bring into effect a reduction in stamp duty on flats and metal crushers. Flats assessed to be below a cost price of Rs 5 lakh would be totally exempted from tax, the Finance Minister, Dr Thomas Isaac, announced in the Assembly. For those assessed to be above this threshold limit, the rates have been reduced to 10 per cent, nine per cent and 6.5 per cent in corporation, municipal and panchayat areas, in tha t order. The amendments proposed also bring relief in tax incident on purchase of metal crushers of large, medium and small sizes.

— Our Bureau

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