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Assam Budget ups professional tax exemption limit by Rs 80,000
August, 13th 2014

Giving a relief to small salaried persons, Assam Chief Minister Tarun Gogoi today raised the minimum exemption limit of professional tax by Rs 80,000 besides freeing chimney and kerosene lamp parts from VAT.

Presenting the state Budget for 2014-15, Gogoi also proposed to make cheaper a host of goods such as parts of writing instruments, sanitary napkins, parts of renewable energy devices, fabricated iron and steel goods, and accessories of bicycle, tricycle and rickshaws.

Assam Chief Minister Tarun Gogoi. Image courtesy PIBAssam Chief Minister Tarun Gogoi. Image courtesy PIB

The chief minister, however, increased the Value Added Tax rates on motor parts, natural gas and smoking tobacco, besides levying an entry duty on imported products from neighbouring countries.

"In order to give some relief to the small salaried person, I propose to raise minimum exemption of profession tax from Rs 40,000 per annum to Rs 1,20,000," Gogoi, who also holds the finance portfolio, said in his Budget speech.

The Budget proposed that a person getting gross salary up to Rs 10,000 per month need not to pay any profession tax, while those having gross salary of more than Rs 10,000 but less than Rs 15,000 per month would have to pay Rs 150 per month.

A person having gross salary of Rs 15,000 or more but less than Rs 25,000 per month shall have to pay Rs 180 per month and only those persons who have gross salary of Rs 25,000 or more per month shall be liable to pay tax at the highest slab of Rs 208 per month.

"Further, similar slabs shall be applicable also for other professionals.

"Accordingly, where the annual gross income of a medical practitioner, technical and professional consultants, legal practitioner etc is more than Rs 1,20,000 but less than Rs 1,80,000, such professionals shall have to pay Rs 1,800 per year," Gogoi said.

For those whose annual gross income is Rs 1,80,000 or more but less than Rs 3,00,000, they shall have to pay Rs 2,160 per year and only where annual gross income is Rs 3,00,000 or more these professionals shall be liable to pay tax at the highest slab of Rs 2,500 per year, he said.

For the common people, the Budget proposed to withdraw VAT from chimney and kerosene lamp parts from the existing 14.5 percent rate.
"For students, I propose to reduce rate of VAT in parts of writing instrument from 14.5 percent to 5 percent," Gogoi said in the Budget.

Besides, the Budget also proposed to cut VAT on sanitary napkins, fabricated iron and steel goods, and accessories of bicycle, tricycle and cycle rickshaws from current 14.5 percent to 5 percent, he added.

"In order to encourage green technology, I wish to exempt renewable energy devices and spare parts from VAT," he said.

The proposals allowing exemption will cost the state exchequer around Rs 40 crore, Gogoi said adding in order to compensate the loss of government revenue, taxes on some goods

will be raised.

"I propose to increase the rate of VAT on natural gas from 12 to 14.5 percent," he said, adding VAT on motor parts will be hiked from 5 percent to 14.5 percent.
Although the government has already banned chewing tobacco in public, the Budget proposed to increase the VAT on smoking tobacco from 25 per cent to 30 per cent "in the interest of health of the people of the state".

Gogoi also said: "Now-a-days a number of items are coming from neighbouring countries for use and consumption on which no tax is leviable, which is affecting local trade andindustries.

"In order to increase state revenue as well as to safeguard local trade and industry, I propose to levy entry tax on import".

On Budgetary estimates, the chief minister said: "Estimated transactions during the year will result in an estimated deficit of Rs 1,385.77 crore".

This, together with the opening deficit of Rs 972.14 crore, the FY'15 fiscal is expected to end with an estimated closing deficit of Rs 2,357.91 crore, he said.
"The Budget estimates of 2014-15 show a receipt of Rs 57,311.39 crore under the consolidated fund of the state.

Out of this, Rs 52,696.81 crore is on revenue account and the remaining Rs 4,614.58 crore is under capital account," the Budget document said.

The total expenditure from the consolidated fund of the State in 2014–15 is estimated at Rs 58,104.54 crore, of which Rs 48,631.30 crore is on revenue account and Rs 9,473.24 crore is on capital account, Gogoi said.

Taking into account also the expenditure of Rs 3,29,958. 56 crore under public account and Rs 50 crore under contingency fund, the aggregate expenditure for the year is estimated at Rs 3,88,113.10 crore, he said.

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