Technoglitch
Core Member
The Madhya Pradesh government announced reducing VAT on a number of items such as CSD cars, soya milk and dialysis machine, while making battery-operated vehicles tax-free in the budget for 2016-17 presented in the Assembly on Friday.
Presenting his fourth budget, Madhya Pradesh Finance Minister Jayant Mallaiya also announced an entry fee of 6 per cent on goods in view of revenue “loss” due to the e-commerce trade.
The budget estimates a revenue surplus of Rs. 3,509.81 crore for financial year 2016.17. “The total expenditure is estimated to be Rs. 1,58,713.04 crore for 2016-17 while appropriation is estimated to be Rs. 1,70,753.99 crores,” Mr. Mallaiya said.
“The fiscal deficit for the year 2016-17 is estimated to be Rs. 24,913.64 crore,” he said.
Mr. Mallaiya said the State which has received four Krishi Karman Awards in a row and the one is working tirelessly to make agriculture a profitable venture has earlier made tax free 38 agriculture equipment. And continuing with this practice, it has proposed to make machines used for making bio-fertilisers and for milk processing as tax-free.
With an aim to check growing pollution, the State has also proposed to abolish five per cent tax on all types of battery-operated car and rickshaw, he said.
The State has also proposed to abolish five per cent tax on bags and envelopes made from bio-degradable material.
The government has proposed to reduce VAT on cars purchased from canteen stores by soldiers from 15 per cent to 4 per cent.
M.P. reduces VAT on CSD cars, green vehicles and soya milk - The Hindu
Presenting his fourth budget, Madhya Pradesh Finance Minister Jayant Mallaiya also announced an entry fee of 6 per cent on goods in view of revenue “loss” due to the e-commerce trade.
The budget estimates a revenue surplus of Rs. 3,509.81 crore for financial year 2016.17. “The total expenditure is estimated to be Rs. 1,58,713.04 crore for 2016-17 while appropriation is estimated to be Rs. 1,70,753.99 crores,” Mr. Mallaiya said.
“The fiscal deficit for the year 2016-17 is estimated to be Rs. 24,913.64 crore,” he said.
Mr. Mallaiya said the State which has received four Krishi Karman Awards in a row and the one is working tirelessly to make agriculture a profitable venture has earlier made tax free 38 agriculture equipment. And continuing with this practice, it has proposed to make machines used for making bio-fertilisers and for milk processing as tax-free.
With an aim to check growing pollution, the State has also proposed to abolish five per cent tax on all types of battery-operated car and rickshaw, he said.
The State has also proposed to abolish five per cent tax on bags and envelopes made from bio-degradable material.
The government has proposed to reduce VAT on cars purchased from canteen stores by soldiers from 15 per cent to 4 per cent.
M.P. reduces VAT on CSD cars, green vehicles and soya milk - The Hindu
