KARNATAKA BUDGET 2020 HIGHLIGHTS
1) Diesel
and Petrol costs more:
State tax (VAT) on Petrol is proposed increase from
32% to 35% and on Diesel it is proposed to increase from 21% to 24% thereby
costing Diesel and Petrol more. Now, travelling seat may not be comfortable to
those loving travelling a lot.
2) Indian
Made Liquor costs more:
Excise duty on Indian made liquor is proposed to
increase by 6%. Therefore, liquor may not taste for the coming year.
3) Reduction
in Stamp Duty:
The rate of stamp duty on first time registration of
new apartments/flats costing less than Rupees 20 Lakhs is reduced from 5% to
2%. This will surely bring smile on face of many people aspiring to buy new apartments/flats.
Practically, no one will for buying apartments/flats in non-metropolitan cities
and in Metropolitan cities getting an apartment/flat for Rupees less than 20
Lakhs is a nightmare.
4) Cheers to
Students
a) Two Saturdays
in every month will be observed as bagless days.
b) Cash
Prize of Rupees One Lakhs will be awarded to students belonging to Schedules
Castes/ Scheduled Tribes who secures first rank at District level in SSLC
Examination.
c) Action
to distribute a minimum of 25% of seats to the students of the same taluk in
the residential schools run by Karnataka Residential Educational Institutions
Society
✍
Sanjay R Shetty
Chartered Accountant
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