1. Estimated revenue receipts of Rs 97,043 crore, which includes Rs 63,838 crore from the state’s own sources. The estimated revenue expenditure at Rs 1, 04,698 crore.
2. Budget for 2010-11 has a revenue deficit of Rs 7,654 cr and a debt of close to Rs 2 lakh cr. State’ Subsidy Burden is Rs1,550 cr .
3. E-facility of filing electronic returns will also be provided under the Profession Tax Act and Luxury Tax Act.
4. Penalty provision for non-issuance of bills made more stringent.
5. For grant speedy refunds it would be mandatory to record the TIN of the purchaser on the Tax Invoice.
6. Small dealers filing six monthly returns will now have to pay the tax within 30 days in lieu of 21 days.
7. The debt waiver and debt restructuring schemes announced by the Centre has been extended for another six months.
8. To reduce the economic burden on farmers to a certain extent, Cotton seed oil cake has been made tax free.
9. Items like rice, wheat, cereals, besan, chilli powder, turmeric, jaggery, coconut, papad will remain in 0% VAT category for another year or till the GST is introduced.
10. Increased the ceiling on zero interest crop loans from Rs 25,000 to Rs 50,000.
11. Hotels and lodges have to pay luxury tax on room rent in excess of Rs 750 per day. This is up from the earlier limit of Rs 200 per day.
12. Aviation Turbine Fuel being sold at small airports except Mumbai and Pune to attract 4% concessional VAT up to March 31, 2011, or till the introduction of GST.
13. A simple composition scheme for the builders and developers. Under this scheme, 1% VAT would be payable on the contract price of flats mentioned in the agreement of sale. However, such builders and developers will not be eligible for set off under the VAT Act. This scheme shall come into force for the agreements registered after 1st April 2010.
14. Audit under section 61 of VAT Act
1. The turnover limit for audit under section 61 of VAT Act will be increased from Rs. 40 lakhs to Rs. 60 lakhs.
2. It will also be mandatory for all the dealers covered by package scheme of incentives, to file the audit report.
15. Raisins, currants and tea to continue the concessional VAT rate of 5% up to 31st March 2011.
16. Blood Transfusion apparatus rate of tax reduced from 12.5% to 5%.
17. Solar lanterns included under Non-conventional energy sources working on solar energy which are exempted from VAT.
18. Solar or battery powered vehicles rate of VAT reduced from 12.5% to 5%
19. Camphor, Dhoop, lobhan and ‘pan Kath’ is exempted from levy of VAT.
20. Rate of tax on hairpins reduced from 4% to 1%.
21. Sabudana Chivada, Chana-chur and Khandvi have been included in the list entry of Farsan attracting a lower rate of VAT.
22. To encourage entrepreneurs who bring innovations to the agriculture sector, vermi compost beds made from HDPE fabrics are being exempted from tax.
23. Tax on sales of hand made laundry soaps manufactured by KVIC units will be exempt from tax.
24. One time tax proposed on Auto Rickshaws and black-yellow meter taxis.
25. Sea food processing centres will be started at Ratnagiri and Sindhudurg districts by fisheries co-operative societies.
26. Construction of fish landing centres and providing basic infrastructure facilities at 30 places in five coastal districts of the state has been approved.
27. Fish landing centres will have facilities like jetty, auction hall and fish drying platforms. The construction will be completed in the next three years with an estimated expenditure of Rs 70 crore.
Friday, March 26, 2010
Monday, March 8, 2010
A tribute to Mumbai & Mumbaikars (deemed to mean and include non-Mahrashtrians as well!)
B_O_M_B_A_Y
Bombay has no bombs and is a harbour not a bay.
Churchgate has neither a church nor a gate. It is a railway station.
There is no darkness in Andheri.
Lalbaag is neither red nor a garden.
No king ever stayed at Kings Circle..
Nor did Queen Victoria stay at Victoria Terminus..
Nor is there any princess at Princess Street ..
Lower Parel is at the same level as Parel
There are no marines or sailors at Marine Lines.
The Mahalaxmi temple is at Haji Ali not at Mahalaxmi.
There are no pigs traded at Dukar bazaar.
Teen bati is a junction of 3 roads, not three lamps.
Trams used to terminate at Kings circle not Dadar Tram Terminus (D.T.T.)
Breach Candy is not a sweetmeat market, but there is a Hospital.
Safed Pool has the dirtiest and blackest water.
You cannot buy coal at Kolsa street.
There are no Iron smiths at Lohar chawl.
There are no pot makers at Kumbhar wada.
Lokhandwala complex is not an Iron and steel market.
Null bazaar does not sell taps.
You will not find ladyfingers at Bheendi Bazaar.
Kalachowki does not have a black Police station.
Hanging Gardens are not suspended.
Mirchi Gully does not sell chillies.
Figs do not grow in Anjir Wadi.
Sitafals do not grow in Sitafal Wadi.
Jackfruits do not grow at Fanaswadi.
But it is true that you may get fleeced at Chor Bazaar!
AMCHI MUMBAI
A City where everything is possible, especially the impossible
Where telephone bills make a person ill,
Where a person cannot sleep without a pill.
Where carbon-dioxide is more than oxygen,
Where the road is considered to be a dustbin,
Where college canteens are full and classes empty
Where a cycle reaches faster than a car,
Where everyone thinks himself to be a star,
Where sky scrapers overlook the slum,
Where houses collapse as the monsoon comes.
Where people first act and then think,
Where there is more water in the pen than ink.
Where the roads see-saw in monsoon,
Where the beggars become rich soon.
Where the roads are leveled when the minister arrives.
Where college admission means hard cash,
Where cement is frequently mixed with ash.
This is Mumbai my dear, But don't fear, just cheer, come to Mumbai every year!
THINGS TO PROVE YOU'RE A BOMBAYITE
1. You say 'town ' and expect everyone to know that this means south of Churchgate.
2. You speak in a dialect of Hindi called 'Bambaiya Hindi', which only Bombayites can understand.
3. Your door has more than three locks.
4. Rs 500 worth of groceries fit in one paper bag.
5. Train timings ( 9.27 , 10.49 etc) are really important events of life.
6. You spend more time each month traveling than you spend at home.
7. You call an 8' x 10' clustered room a Hall.
8. You're paying Rs 10,000 for a 1 room flat, the size of a walk-in closet and you think it's a 'steal.'
9. You have the following sets of friend: school friends, college friends, neighborhood friends, office friends and yes, train friends, a species unique only in Bombay. (REALLY TRUE)
10. Cabbies and bus conductors think you are from Mars if you call the roads by their Indian name, they are more familiar with Warden Road, Peddar Road, Altamount Road.
11. Stock market quotes are the only other thing besides cricket which you follow passionately.
12. The first thing that you read in the Times of India is the 'Bombay Times' supplement.
13. You take fashion seriously. You're suspicious of strangers who are actually nice to you.
14. Hookers, beggars and the homeless are invisible.
15. You compare Bombay to New York's Manhattan instead of any other cities of India.
16. The most frequently used part of your car is the horn.
17. You insist on calling CST as VT, and Sahar and Santacruz airports instead of Chatrapati Shivaji International Airport.
18. You consider eye contact an act of overt aggression.
19. Your idea of personal space is no one actually standing on your toes.
20. Being truly alone makes you nervous.
21. You love wading through knee deep mucky water in the monsoons, and
actually call it ''romantic'.
22. Only in Bombay, you would get Chinese Dosa and Jain Chicken
Salaam Bombay...
Bombay has no bombs and is a harbour not a bay.
Churchgate has neither a church nor a gate. It is a railway station.
There is no darkness in Andheri.
Lalbaag is neither red nor a garden.
No king ever stayed at Kings Circle..
Nor did Queen Victoria stay at Victoria Terminus..
Nor is there any princess at Princess Street ..
Lower Parel is at the same level as Parel
There are no marines or sailors at Marine Lines.
The Mahalaxmi temple is at Haji Ali not at Mahalaxmi.
There are no pigs traded at Dukar bazaar.
Teen bati is a junction of 3 roads, not three lamps.
Trams used to terminate at Kings circle not Dadar Tram Terminus (D.T.T.)
Breach Candy is not a sweetmeat market, but there is a Hospital.
Safed Pool has the dirtiest and blackest water.
You cannot buy coal at Kolsa street.
There are no Iron smiths at Lohar chawl.
There are no pot makers at Kumbhar wada.
Lokhandwala complex is not an Iron and steel market.
Null bazaar does not sell taps.
You will not find ladyfingers at Bheendi Bazaar.
Kalachowki does not have a black Police station.
Hanging Gardens are not suspended.
Mirchi Gully does not sell chillies.
Figs do not grow in Anjir Wadi.
Sitafals do not grow in Sitafal Wadi.
Jackfruits do not grow at Fanaswadi.
But it is true that you may get fleeced at Chor Bazaar!
AMCHI MUMBAI
A City where everything is possible, especially the impossible
Where telephone bills make a person ill,
Where a person cannot sleep without a pill.
Where carbon-dioxide is more than oxygen,
Where the road is considered to be a dustbin,
Where college canteens are full and classes empty
Where a cycle reaches faster than a car,
Where everyone thinks himself to be a star,
Where sky scrapers overlook the slum,
Where houses collapse as the monsoon comes.
Where people first act and then think,
Where there is more water in the pen than ink.
Where the roads see-saw in monsoon,
Where the beggars become rich soon.
Where the roads are leveled when the minister arrives.
Where college admission means hard cash,
Where cement is frequently mixed with ash.
This is Mumbai my dear, But don't fear, just cheer, come to Mumbai every year!
THINGS TO PROVE YOU'RE A BOMBAYITE
1. You say 'town ' and expect everyone to know that this means south of Churchgate.
2. You speak in a dialect of Hindi called 'Bambaiya Hindi', which only Bombayites can understand.
3. Your door has more than three locks.
4. Rs 500 worth of groceries fit in one paper bag.
5. Train timings ( 9.27 , 10.49 etc) are really important events of life.
6. You spend more time each month traveling than you spend at home.
7. You call an 8' x 10' clustered room a Hall.
8. You're paying Rs 10,000 for a 1 room flat, the size of a walk-in closet and you think it's a 'steal.'
9. You have the following sets of friend: school friends, college friends, neighborhood friends, office friends and yes, train friends, a species unique only in Bombay. (REALLY TRUE)
10. Cabbies and bus conductors think you are from Mars if you call the roads by their Indian name, they are more familiar with Warden Road, Peddar Road, Altamount Road.
11. Stock market quotes are the only other thing besides cricket which you follow passionately.
12. The first thing that you read in the Times of India is the 'Bombay Times' supplement.
13. You take fashion seriously. You're suspicious of strangers who are actually nice to you.
14. Hookers, beggars and the homeless are invisible.
15. You compare Bombay to New York's Manhattan instead of any other cities of India.
16. The most frequently used part of your car is the horn.
17. You insist on calling CST as VT, and Sahar and Santacruz airports instead of Chatrapati Shivaji International Airport.
18. You consider eye contact an act of overt aggression.
19. Your idea of personal space is no one actually standing on your toes.
20. Being truly alone makes you nervous.
21. You love wading through knee deep mucky water in the monsoons, and
actually call it ''romantic'.
22. Only in Bombay, you would get Chinese Dosa and Jain Chicken
Salaam Bombay...
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