Ajit Pawar presents surplus budget
Mumbai, Mar 20 : Maharashtra Finance minister Ajit Pawar today presented a surplus Budget for 2013-14, showing revenue receipts of Rs 1,55,986.95 crore and revenue expenditure of Rs 1.55,802,57 crore.
Pawar, also the deputy chief minister, announced in the state assembly increase in tax on cigarette, tobacco, liquor, bidi, beer,lottery, gold, silver and jewellery prices and reduced the tax on essential commodities, Solapur chadars, towels. wet dates and exempted Rice, bran, hand pumps and water meters from purview of the tax.
Mr Pawar said the budget showed a revenue surplus of Rs 184.38 crore. He anounced that surveillance of transactions by sales tax department is to go up.
The tax exemption on essential commodities, Solapuri chadars and towels, wet dates will continue till March 31, 2014. The concessional rate on tea will also continue till the same time.
Mr Pawar announced VAT exemption on Braille watches and vehicles for the handicapped. He also announced reduction in the rate of tax of heart implants from 12.5 per cent to five per cent.
The tax rate of gold, silver, and their jewellery has been increased from 1 per cent to 1.10 per cent and sugarcane purchase tax from three per cent to five per cent.
He said textile for industrial use will be taxed at five per cent.
Mr Pawar also announced tax on the paver blocks to be increased from five per cent to 12.5 per cent.
The finance miister also announced that financial institutions are liable to pay stamp duty on mortgage deeds.