Karnataka plans to exempt farm implements from VAT
Karnataka Government is in the process of exempting all agricultural implements from VAT, Deputy Chief Minister and Finance Minister Siddaramaiah announced in the State Assembly today.
Several agricultural implements listed under the VAT schedule enjoyed zero per cent tax now and those unlisted attracted 12.5 per cent tax, he said while intervening during a reply on the demands for grants pertaining to the agriculture department.
Siddaramaiah said while oilseeds used for sowing operations have been exempted from tax, the seeds used for extraction of oil is charged four per cent tax.
More: hindu.com