FKCCI vehemently opposes octroi re-entry

Bangalore, May 13: The Federation of Karnataka Chambers of Commerce and Industry (FKCCI) today vehemently opposed reintroduction of Octroi in the State as it would hinder free flow of trade and transportation.

In a statement here FKCCI President S Babu, referring to reported remarks of former Mayor P R Ramesh and a few corporators seeking Octroi reintroduction to bolster the funds of the City Corporation said that was Octroi abolished in 1979 after a strong protest by the trade and industry. However the government introduced Entry tax.

Through Entry Tax and Professional Tax the local bodies could raise sufficient funds for development works and the trade and industry should not be burdened further, he said.

Besides, such additional taxes were not feasible under the Value Added TAx.

UNI