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Electronic goods to cost more

THE STATE Cabinet today decided to hike the rate of trade tax on consumer electronic goods including microwave oven and the engine spare parts in UP. The meeting, which was presided over by Chief Minister Mulayam Singh Yadav, decided that the effective rate of trade tax would go up from 10 per cent to 12 per cent on all electronic and electrical consumer goods.

india Updated: Nov 16, 2006 09:58 IST

THE STATE Cabinet today decided to hike the rate of trade tax on consumer electronic goods including microwave oven and the engine spare parts in UP.

The meeting, which was presided over by Chief Minister Mulayam Singh Yadav, decided that the effective rate of trade tax would go up from 10 per cent to 12 per cent on all electronic and electrical consumer goods.

The State Government had so far been charging 8 per cent trade tax plus 2 per cent central sales tax on electronic goods, while for electrical goods the rate was 10 per cent trade tax plus 2 per cent central sales tax.

As there was confusion over the distinction between electrical and electronics goods, the Cabinet decided to impose uniform 8 per cent trade tax and increase CST to 4 percent taking the total tax to 12 per cent. The decision is expected to bring in Rs 25 crore annually to the government coffer.

The Cabinet also decided to provide plots at 25 per cent concession to the information technology industry units at NOIDA, Greater NOIDA and other industrial areas of the UPSIDC etc.

In another decision, the Cabinet gave its nod to the Memorandum of Understanding (MoU) that the National Bank for Agriculture and Rural Development (NABARD) has forwarded to grant short-term loans to revive and strengthen cooperative societies. The State Government had earlier accepted recommendations of Vaidyanathan Committee. The State Government would provide a sum of Rs 356 crore while the cooperative societies would mobilise of Rs 104 crore from their own resources. The Centre is likely to provide a sum of Rs 2300 crore for the purpose.

The Cabinet also allowed district magistrates to appoint personnel on 11-months contract under the National Horticulture Mission.

It was also decided to provide 10,000 metric tonnes of wheat allotted by the Centre at the Ardh Kumbh Mela in Hardwar at Above Poverty Line (APL) rates.

The State Cabinet decided to amend the Urban Planning and Development Act to enable the State Government charge conversion fees, urban development fees and license fee.

The State Government though had been charging the conversion fees etc. over the years a need to amend the act was felt following the State Government’s recent decision to waive the conversion fees in case of unilateral change in the land use in the master plans.

The Cabinet gave its nod to give 12 out of 27 unsold nazul plots to the Jhansi Development Authority. This would generate revenue of Rs 70 lakh.