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cabinet nod to three-fold increase in holding tax of commercial establishments


patna,(bihartimes): the state cabinet on monday announced three-fold increase on existing holding tax of commercial establishments like hotel bar, restaurant, marriage halls, health clubs, gymnasium spread over more than 250 square feet of area. this would be the first such hike in two decades.

addressing the media after the cabinet meeting, urban development department and housing secretary s siddharth said the government has also approved 1.5-time hike on the existing holding tax of shops, private schools and colleges, private hostels, private coaching centres, training centres, multiplexes, cinema halls, malls, laboratories and guest houses.

he further said that the cabinet has approved three-fold increase in the rate of existing structure of tax on commercial and financial establishments, insurance and banking, nursing homes. two-fold hike on the existing tax rate of godowns, industries and workshops was also approved by the cabinet.

he said religious and cultural centres would be exempted from the purview of any tax.

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