KOCHI: The state govt has issued an order exempting Kochi Metro Rail Limited (KMRL) from property taxes levied by local self-govt institutions. The order was issued considering the application filed by KMRL MD Loknath Behera in Sept last year.
KMRL had filed cases against the corporation and nearby local bodies in the high court, challenging the property tax demand notices for its station buildings and related structures.
KMRL requested exemption from taxes based on the Indian Railways Act and a tripartite agreement between the Centre, state govt and KMRL, which states that the Kerala govt should exempt or reimburse KMRL from local taxes.
The ministry of housing and urban affairs also requested the state govt to exempt Kochi Metro from taxes imposed by local bodies to offset operational losses and financial liabilities arising from the significant property tax burden.
Source Homevior.in
