Need Tally
for Clients?

Contact Us! Here

  Tally Auditor

License (Renewal)
  Tally Gold

License Renewal

  Tally Silver

License Renewal
  Tally Silver

New Licence
  Tally Gold

New Licence
 
Open DEMAT Account with in 24 Hrs and start investing now!
« Budget Extravaganza »
Open DEMAT Account in 24 hrs
 ITR 2024-25: Are the latest Budget 2025 tax slabs applicable for tax filing in AY 2025-06? Details here
 Time ripe for streamlining withholding tax in the budget
 35 LPA AGM/ DGM Banking & Treasury (MBA/ CA)
 Budget 2025 Wishlist: Individual taxpayers want tax relief, deductions, slab relaxation on February 1
 Budget 2025: Why tax relief for debt funds tops wish list of mutual fund industry
 FinMin unlikely to introduce new Income-Tax Bill in Budget session
 Income tax relief in Budget 2025? Govt mulling relief for lower income tax bracket
 Income Tax Act overhaul likely in Budget
 Will FM Nirmala Sitharaman Change Tax Rates in Budget 2024?
 Budget to usher in minimum corporate tax rule under Pillar-2
 All outstanding personal tax demand notices up to Rs 25,000 withdrawn till FY 2014-15 in Budget 2024

Hard on soft drinks, raising VAT from 12.5% to 20%: Maha Budget
March, 24th 2011

Finance minister Ajit Pawar adopted a hard stand on soft drinks, raising the VAT on them from 12.5% to 20%. Sunglasses will attract a 5% VAT.

The state government has decided to levy additional duty and tax on the electricity produced and sold in the state to fund infrastructure facilities that would be improved in areas having power-generation plants. This burden could be passed to the consumer.

Meanwhile, dry fruits are set to get cheaper with VAT dropping from 12.5% to 5%. The Mumbaikar's favourite snack, the vada pav, will also be cheaper with VAT falling by the same amount. Pawar has also decided to continue keeping the grocery list cheap, with tax exemptions to continue on LPG, rice, turmeric, chillies, coconut, cumin seeds, methi, parsley and sugar.

To please religious communities, the finance minister has proposed to exempt dhoop, loban and incense sticks from taxes.

Stamp duty on stocks and the capital market has been amended. "Transaction of securities, futures, delivery and no-delivery takes place in the share market and commodity exchanges. The transactions are charged at different rates of stamp duty, which makes collection of stamp duty a difficult task. To bring uniformity in collection of this tax, the finance department has proposed stamp duty of 0.0005% on all these transactions," Pawar said.

Pawar expressed satisfaction over the revenue collected through tax. "Last year many states enhanced VAT from 12.5% to 13.5%; in some states it was raised to 15%.

But without changing the tax rate in Maharashtra, the state has shown a record increase in the revenue collection," the finance minister said, adding, "This year too there is no proposal to increase the standard rate of VAT (12.5%)."

Home | About Us | Terms and Conditions | Contact Us
Copyright 2025 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting