The Hindu : A tourist-friendly policy

Online edition of India's National Newspaper
Wednesday, Feb 12, 2003

Southern States

Southern States - Karnataka

A tourist-friendly policy

By Our Special Correspondent

BANGALORE Feb. 11. The new tourism policy unveiled by the Chief Minister, S.M.Krishna, hands out all concessions to the private sector offered under the State Industrial Policy.

While the additional State excise duty of 66 per cent on imported liquor will be reduced to 25 per cent, luxury tax will be charged only on room tariff of above Rs. 400, and only on the actual tariff collected.

According to the new policy, government land will be offered at 50 per cent of its market value and the motor vehicle tax on tourist vehicles plying between States will be rationalised on reciprocal basis.

Further, there is a 50 per cent stamp duty exemption for investment below Rs. 50 crore and 100 per cent exemption above an investment of Rs.100 crore.

Other incentives include concessional registration charges of Re.1 per Rs.1,000, waiver of conversion fee, entry tax exemption during implementation of the project for a period of three years; entertainment tax exemption of 100 per cent for first three years and 76 per cent for next two years for I-Max theatres only, tax on aviation turbine fuel reduced to four per cent, and underwriting 50 per cent of tickets of private airlines for an initial period of three years.

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