Highlights of Kerala budget— major tax proposals

Stamp duty for registration of property sales reduced on notified fair value of land. Surcharge abolished.

The effective rate of stamp duty, surcharge and registration fee will come down from 15.5 per cent to 11 per cent in City Corporation areas, from 14.5 per cent to 10 per cent in municipal areas and from 12 per cent to 9 per cent in panchayat areas. Stamp duty on agreements would be raised to Rs. 100.

Direct to Home services to attract one per cent luxury tax on gross charges. Cable television operators with less than 5000 connections exempted from luxury tax

Tax on liquor other than beer and wine increased by 10 per cent. Tax on beer and wine reduced by 10 per cent

Life time tax on new motor cars and omni buses with engine capacity of 1500 CC and above raised to 8 per cent. Life time tax of six per cent ad valorem introduced for all type of construction equipment vehicles.

Autorikshaws will be given option to pay vehicle tax on lump-sum for five years. The rate will be Rs. 2000 which will be 20 per cent less than the normal tax. One time settlement scheme will be extended to payment of motor vehicle tax arrears.

Compounding rates for metal crushers and gold revised.

Luxury tax on hotel rooms reduced by 2.5 percentage points. (New rates are 7.5 per cent and 12.5 per cent).

The government will not increase VAT on sugar and textiles as recommended by the Centre. Imported sugar will be exempted from tax.

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Printable version | Sep 20, 2021 9:12:41 AM |

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