HIGHLIGHTS OF THE BUDGET PRESENTED BY DEPUTY CHIEF MINISTER AND FINANCE MINISTER, SHRI AJIT PAWAR ON 26TH MARCH, 2012 – PART II
- Growth in Sales Tax collection is 20 per cent and exceeds target by 4000 crore.
- Electronic surveillance of transactions to go up.
- Online verification of Input Tax Credit facility will be made avail able to dealers shortly.
- Exemption to food-grains, pulses and their flour, Solapuri Chadars and towels and wet dates to continue upto 31st March, 2013.
- Concessional rate of VAT on tea to continue upto 31st March, 2013. VAT on Cotton Yarn reduced from 5 per cent to 2 per cent. Tax exemption to Textiles other than furnishing cloth to continue.
- Reduction in rate of tax from 12.5 per cent to 5 per cent on educational material.
- ‘Purak Poshak Ahar’ supplied to Anganwadis exempted from tax.
- Tax reduced to 5 per cent on Adult diapers, Sanitary napkins, Raincoats, Safety helmets, Articles made from Bamboo.
- Exemption from Motor Vehicle Tax to Battery operated Vehicles.
- Reduction in Motor Vehicle tax by 2 per cent on new cars and jeeps with CNG kits.
- Reduction in rate of tax from 12.5 per cent to 5 per cent on equipment for poultry industry.
- Amnesty scheme for outstanding Electricity Duty.
- Rationalisation in stamp duty on Real Estate Transactions. LPG for domestic use to be taxed at 5 per cent.
- Motor vehicle tax to go up on petrol cars and jeeps by 2 per cent. Motor Vehicle Tax to go up on diesel cars and jeeps by 4 percent. Beedi to be taxed at 12.5 per cent.
Download Maharashtra Budget 2012-13 Speech of Finance Minister, Shri Ajit Pawar On 26th March, 2012 – PART II