1

HIGHLIGHTS OF MAHARASHTRA STATE BUDGET 13-14

1. Related to Tax Amendments:
VAT:
1. It is proposed that only a single return shall be filed pursuant to
findings in the Vat Audit Report in Form 704 instead of revising all
returns for the year.
2. Simple procedure to be obtained for actions taken for non-filling of
returns and non-payment of taxes, once complied by the Dealer.
No hardship will be done.
3. Company Secretaries are allowed to represent before Sales tax
Authorities
4. Like IMFL, it is proposed to tax Wine at first stage of sell.
5. In special circumstances, late filing fees for returns can be reduced
or waived.
6. Vat refund due upto Rs. 5 lakh can be carried forward to next
financial year. (Limit increased from Rs. 1 Lakhs)
7. Refunds to be processed in 3 months from verification of Form 704.
8. Dues as per Form 704 are now considered as statutary dues to
enable department to take recovery actions.

CHANGES IN TAX RATE: Revised Rates
All types of Tobacco, Bidi: 12.5%
Cigarettes 25%
Industrial Cloths 5%
Soft drinks from essence . 12.5%
Industrial Gold and Silver Material 5%
Domestics Gold, Silver 1.1% (for 13-14 only)
Paving Blocks 12.5%
All types of Shampoo and Cosmetics 12.5%

Saturday, 23 March 2013


2


VAT EXEMPTIONS/REDUCTIONS PROPOSED:

Exemption to Rice, Wheat, etc extended till 31.3.14

Milk of all types exempted w.e.f. 1.4.05

Watches and Vehicles for Blinds Exempted

Rice-bran Exempted

Heart Implant Rate reduced to 5%

Furnishing Cloths Interstate sales rate exempted

Excavators to tax @ 5%

STATE EXCISE DUTY
Export Duty on Liquor to another State increased ( Not
applicable to CSD)

State Excise Duty of Liquor and Beer increased.


Thank you.
Saturday, 23 March 2013