The State cabinet in its meeting yesterday has approved the revision in the levy of property taxes for industries operating in the industrial areas in Karnataka. Currently, the property taxes are levied on commercial rates for those industries which are very high. A new slab for property taxes for industries is created to ease their pains.
With the revision, the property taxes will moderate and ensure compliances by all.
Mr. K R Sekar, President, BCIC said “We wholeheartedly thank Dr. Murugesh Nirani, Honourable Industries Minister in taking up the matter in providing reliefs to many of the industries already suffering due to Covid-19 pandemic, and support ease of doing business in the state of Karnataka”.