Karnataka Repealing Of Certain Enactments And Regional Laws Act, 2020

The Government of Karnataka vide notification no 617, has repealed

(a) the Karnataka Tax on Profession, Trades, Callings, and Employments (Amendment) Act, 2018,

(b) The Karnataka Taxation Laws (Amendment) Act, 2016.

As per the notification,

(1) Serial No 10 of the Schedule 1 under the Karnataka Tax on Professions, Trades Calling and Employments Act, 1976 is restored to Contractors executing works contract where total consideration of all the contracts in a year is:- 

    (i) less than Rs. 2 Lakhs - Nil

    (ii) more than Rs. 2 Lakhs but less than Rs. 10 Lakhs - Rs. 1000 per Annum

    (iii) more than Rs. 10 Lakhs but less than Rs. 25 Lakhs - Rs. 1500 per Annum

    (iv) more than Rs. 25 Lakhs - Rs. 2500 per Annum

2) For Registration and enrolment under the Karnataka Tax on Professions, Trades Calling and Employments Act, 1976 the assessing authority has to grant such certificate within thirty days of the receipt of the application.

Effective date would be 1 December 2020.

Please refer to the notification for more details.

Notification:-Karnataka_Repealing_Of_Certain_Enactments_And_Regional_Laws_Act_2020.pdf