The Bangalore Chamber of Industry and Commerce (BCIC), a nodal industry body, has in a presentation to the 14th Finance Commission on Wednesday said that Karnataka’s share of central taxes has been dwindling with each successive Finance Commission despite it being among the best managed states with specific reference to fiscal responsibility.
“It is noticed that there is a trend of declining devolution of taxes to states,” S Venkataramani, Co-Chairman, State and Indirect Taxes Expert Committee-BCIC said. The 14th Finance Commission headed by former RBI Governor Y V Reddy is on a three-day visit to the state to elicit its views on various stakeholders on issues related to sharing of central taxes among states and allocation of funds to the priority sectors.
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