Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: ACCOUNTING STANDARD :: cpt :: VAT Audit :: TDS :: articles on VAT and GST in India :: list of goods taxed at 4% :: VAT RATES :: form 3cd :: TAX RATES - GOODS TAXABLE @ 4% :: Central Excise rule to resale the machines to a new company :: due date for vat payment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ARTICLES ON INPUT TAX CREDIT IN VAT :: empanelment :: ACCOUNTING STANDARDS
 
 
News Headlines »
 All you need to know about claiming tax break on HRA
 How much income tax you should pay on investments in gold?
  Best ways to save tax in 2017
 8 unknown stocks that could yield huge returns
 Government may set threshold for probe into deposits to prevent harassment of taxpayers
 How to calculate capital gains tax
 April 1 still the target for GST: FM
 How to respond to CBDT’s tax compliance notice
 Goods & Services Tax (GST)(As On 01-01-2017)
 Excise, service taxpayers to migrate to GST portal by January 31
 Tax numbers belie slowdown: FM

Maharashtra sales tax arrears at Rs 15,226 cr in '05-06
April, 19th 2007
CAG findings reveal slight improvement in fiscal health

Maharashtra's sales tax arrears for fiscal 2005-06 amount to about Rs 15,226 crore.

Test checks of the records of sales tax, state excise, motor vehicle tax, stamp duty, registration fees and land revenue for the fiscal revealed that there were 11,296 cases of under assessment, short levy and loss of revenue involving an amount of Rs 1,607 crore, said Ms Malashri Prasad, Principal Accountant General of Maharashtra.

She was addressing the media on Wednesday on the findings of the report of the Comptroller and Auditor General of India for the year ended March 31, 2006.

During that fiscal, only 4.31 lakh tax assessments under sales tax, motor sprit tax, profession tax, purchase tax on sugarcane, entry tax, lease tax, luxury tax and tax on works, were completed. This is a minuscule proportion of the whole, and leaves a balance of 44.19 lakh assessments to be completed.

The CAG reported a slight improvement in the fiscal health of the state. The revenue deficit of Maharashtra decreased from Rs 10,333 crore in 2004-05 to Rs 3,842 crore in 2005-06, mainly due to growth in revenue receipts by 18 per cent. Also, revenue expenditure increased only 2 per cent, according to the report.

The report said that the state's fiscal deficit also decreased from Rs 18,620 crore in 2004-05 to Rs 17,631 crore in 2005-06 on account of the same reasons. The fiscal deficit was 4 per cent of the Gross State Domestic Product.

Eighty one per cent of the revenue receipts came from the state's own resources, 8 per cent from grants-in-aid from the Union Government and 11 per cent from central tax transfers.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Content Management System development CMS development Content Management Solutions CMS Solutions Content Management Services CMS Services CMS Software

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions