https://www.taxtmi.com/news?id=46550 Karnataka requests a larger share of central tax devolution and a dedicated multi year investment for Bengaluru infrastructure. It seeks raising the devolved share to at least 50%, capping cess and surcharge at 5%, and including union non tax revenues in the divisible pool. Proposed formula changes include states retaining about 60% of their contribution with 40% redistributed to less developed states, reducing the weight of the income distance criterion in favour of a GDP share measure, and replacing discretionary special grants with a formulaic allocation of 0.3% of Gross Union Receipts. The state stresses predictability, equity and growth orientation of transfers. en-us Fri, 13 Jun 2025 21:16:02 +0530 Fri, 13 Jun 2025 21:16:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=46550 Karnataka requests a larger share of central tax devolution and a dedicated multi year investment for Bengaluru infrastructure. It seeks raising the devolved share to at least 50%, capping cess and surcharge at 5%, and including union non tax revenues in the divisible pool. Proposed formula changes include states retaining about 60% of their contribution with 40% redistributed to less developed states, reducing the weight of the income distance criterion in favour of a GDP share measure, and replacing discretionary special grants with a formulaic allocation of 0.3% of Gross Union Receipts. The state stresses predictability, equity and growth orientation of transfers. News - Fri, 13 Jun 2025 21:16:02 +0530 https://www.taxtmi.com/news?id=46550