{"id":28787,"date":"2022-03-11T16:38:00","date_gmt":"2022-03-11T11:08:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/mh-assembly-budget\/"},"modified":"2022-03-11T16:38:00","modified_gmt":"2022-03-11T11:08:00","slug":"mh-assembly-budget","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/mh-assembly-budget\/","title":{"rendered":"Maha FM presents revenue deficit budget; introduces GST amnesty scheme"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1141345524\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Mumbai, Mar 11 (PTI) Maharashtra Deputy Chief Minister Ajit Pawar on Friday presented a revenue deficit budget while announcing an amnesty scheme for the Goods and Services Tax (GST) payees.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-316107048\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p>  Tabling the third budget of the Shiv Sena-NCP-Congress government in the Legislative Assembly, Pawar, who holds the finance portfolio, said  a provision of Rs 1,50,000 crore has been made for the annual plan.<\/p>\n<p>As per the budget estimates, revenue receipts  would be to the tune of Rs 4,03,427 crore, and revenue expenditure at Rs 4,27,780 crore.<\/p>\n<p>There would be thus a revenue deficit of Rs 24,353 crore, Pawar said.<\/p><div class=\"trade-content_5\" id=\"trade-3371097778\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>The tax revenues as per the revised  estimate for year 2021-22 would be Rs 2,75,498 crore. This includes revised estimate of Rs 1,55,307 crore on account of GST, VAT, Central Sales Tax, Professional Tax and other important taxes.<\/p>\n<p>There would be an amnesty scheme for GST arrears, to be called the`Maharashtra Settlement of Arrears of Tax, Interest, Penalty or Late Fee Scheme, 2022&#8242;, the finance minister said.<\/p>\n<p>The duration of the scheme will be from April 1, 2022, to September 30, 2022 and it is estimated that medium-level dealers will be benefited in almost 2.2 lakh cases due to the scheme.<\/p>\n<p>Under this amnesty scheme, on payment of lumpsum amount of 20 percent, waiver will be granted for remaining 80 percent of arrears.<\/p>\n<p>In other concessions, the 3 per cent stamp duty on gift deed and 5 percent stamp duty on sale deed will be exempted, which will cost the exchequer about Rs 21 crore.<\/p>\n<p>Reduction of VAT on natural gas will cause a  revenue loss of Rs 800 crore, the Budget document said.<\/p><div class=\"trade-content-10\" id=\"trade-3410317752\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>Amnesty scheme under the stamp act for pending penalty dues will cost the government Rs 1,500 crore.<\/p>\n<p>Waiver of stamp duty of  0.1 percent on gold and silver  delivery order  documents will lead to revenue shortfall of Rs 100 crore.<\/p>\n<p>Tax levied by the Maharashtra Maritime Board on passengers as well as pets, vehicles and goods travelling by ferries and Ro-Ro boats has been waived for three years.<\/p>\n<p>The budget  prioritizes agriculture, health, human resources, transport, industry, culture and tourism, among other sectors, Pawar said. PTI MR  KRK   KRK<\/p>\n<div class=\"trade-after-content\" id=\"trade-2792683687\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Mumbai, Mar 11 (PTI) Maharashtra Deputy Chief Minister Ajit Pawar on Friday presented a revenue deficit budget while announcing an amnesty scheme for the Goods and Services Tax (GST) payees. Tabling the third budget of the Shiv Sena-NCP-Congress government in the Legislative Assembly, Pawar, who holds the finance portfolio, said a provision of Rs 1,50,000 [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1698,31],"tags":[],"class_list":["post-28787","post","type-post","status-publish","format-standard","hentry","category-commodities","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Maha FM presents revenue deficit budget; introduces GST amnesty scheme - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/mh-assembly-budget\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Maha FM presents revenue deficit budget; introduces GST amnesty scheme\" \/>\n<meta property=\"og:description\" content=\"Mumbai, Mar 11 (PTI) Maharashtra Deputy Chief Minister Ajit Pawar on Friday presented a revenue deficit budget while announcing an amnesty scheme for the Goods and Services Tax (GST) payees. 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