KASSIA pleas for tax concession for SMEs

BANGALORE, INDIA: In a memorandum to chief minister DV Sadananda Gowda on Wednesday, the Karnataka State Small Scale Industries Association (KASSIA) has requested for liberal tax concessions and investment subsidies in the upcoming state budget, in order to boost the growth of small industries in the state.

A A KASSIA delegation led by president Prakash N Raikar, said, “There are quite a number of items of mass consumption such as processed food items, packaged drinking water, utensils, etc under 14 per cent VAT.”

He added that the government has exempted tax on most food items like bread and bun from VAT payment. But products like machine-made chapatis, which come under the category of Indian bread, has been receiving indifferent treatment.