Maharastra government annouced it's recent budget & offered some plus and minus forthe industry & to the individuals.

Because of economic slowdown as well as the state elections in October the Finance Minister,Mr. Dilip Walse Patil announced exemption of salary Rs. 5000 from professional tax and also starts amnesty scheme for professional taxpayers.

For small dealers the Minister announced a simplified VAT scheme for refund below Rs five lakh. It is hoped that the computerisation of the VAT Department may streamline the procedures for refund which will help all industries

However the budget will pain the industry as the vate rate hikes on high end cars,liquor,& electonic goods.Also on mobile phone,cordless & cameras the vate rate is increased 4% to 12.5%.

The sales tax on the liquor has been increased to 20 to 25% to both indian & imported.

Vat on Tobacco also has been increased to 12-20% except on bidis.

However some of the mass goods like energy saving and medical equipment will now attract 4% tax in place of 12.5%. To promote non-conventional energy usage, the Minister has exempted from tax solar energy goodies like solar panels, solar heaters and solar cookers. Duty on CFL has been reduced from 12.5% to 4%.

The tax rate has been decreased to hotels and restaurants upto three star rating from 8% to 5%. For jewellery industry vat decreased 4% to 1%.