Dr. Dipen Agrawal, President of Chamber of Associations of Maharashtra Industry & Trade (CAMIT) reacting to Maharashtra State budget presented by Ajit dada Pawar, Deputy Chief Minister & Finance Minister, Government of Maharashtra, said that FM has attempted to end revenue litigation by introducing Settlement Scheme 2022 for indirect taxes prior to introduction of GST.
Trade and industry would have benefited more if Local Body Tax would have been included in the proposed amnesty scheme. However, by not acceding the pending genuine demand of trade to close LBT department in all municipal corporations the intention for revenue litigation free state remains a distant dream added Dr. Agrawal.
Today’s Rate
Saturday 05 Oct. 2024
FM has given some respite to good repayment farmers’ however the common man is left in crunch. FM announced reduction of VAT on CNG but did not reduce tax on petrol and diesel the most commonly consumed fuel.
By announcing schemes like – extension of samruddhimahamarg to Gadchiroli; aqua tourism at Gosikhurd; heritage walk at Nagpur; tiger safari at Chandrapur; airport and a new speciality hospital at Gadchiroli and fund allocation for Gosikhurd project and upliftment of Amravati airport has attempted to solace citizens of Vidarbha. However, industry from the region is disappointed by silence on the long pending demand of reintroduction of power tariff concessions given in earlier years.
Amnesty scheme for Stamp Duty arears and tinkering in setoff of stamp duty paid on earlier deeds, innovation centres in six revenue circles and enhancing road/highway network are welcome steps which shall bear the fruits in time to come.
FM has acknowledged the difficulties faced by Covid-19 pandemic and the inevitable catastrophic adverse effect of Russia-Ukraine war on state economy and citizens but failed to do the needful to lessen the pressure on the homemaker and service class of the State.
I personally feel FM’s attempts are genuine but much more could have been done. We can safely consider giving 7 on the scale of 10 for this years’ Budget.
