HIGHLIGHTS OF THE BUDGET SPEECH DATED 9TH MARCH, 2023 BY HONOURABLE DEPUTY CHIEF MINISTER (FINANCE) SHRI DEVENDRA FADNAVIS

A- Amnesty Scheme, 2023 for Goods and Services Tax Department announced:—

  1. This Amnesty Scheme will be called as ‘Maharashtra Settlement of Arrears of Tax, Interest, Penalty or Late Fee Act, 2023’.
  2. This Scheme is applicable on various taxes levied by GST Department before introduction of GST Act and duration of this Amnesty Scheme will be from May 1, 2023 to October 31, 2023.
  3. Complete waiver of the arrears in cases where arrears are Rs. 2,00,000/- or less per year. As a result small dealers will be benefited in around one lakh cases.
  4. Dealers having arrears up to Rs. 50 lakhs or less per statutory order will pay only 20% amount and balance 80% will be waived. As a result medium dealers will be benefited in around eighty thousand cases.

B-Female employees drawing monthly salary up to 25000/will be exempted from Profession Tax.

C-The definition of ‘Person with Disability’ in the Profession Tax Act is proposed to be amended as per definition given in the Rights of the Persons with Disabilities Act, 2016 and hence more persons with disabilities will become eligible for exemption from payment of Profession Tax.

D- Reduction of VAT rate on ATF from 25% to 18% in Mumbai, Pune and Raigad districts.

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