Karnataka gives BEML Rs 58-cr VAT exemption.

Byline: Our Bureau

Co delivers coaches to Bangalore Metro

Bharat Earth Movers Ltd (BEML) has got 4 per cent Value Added Tax exemption -- in value terms Rs 58 crore -- from Karnataka Government for supplying coaches to Bangalore Metro Rail Corporation.

"This gesture of Karnataka Government makes us competitive both in the international and domestic markets," said Mr V.R.S. Natarajan, Chairman and Managing Director, BEML.

The company was assured of the concession for five years a few years ago. The State Government had told BEML that the concession would kick-in from the date of delivery of the first rail car. A similar relief was given to BEML when …