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Quality with Timeliness

Budget Updates – Gujarat State

KMS_GVAT_Budget 2016-17 Updates

The Finance Minister, Gujarat State has presented Budget 2016 as on February 23, 2016 considering various sectors. Along with various propositions in Budget 2016 some of the important tax proposals have been put forth before Legislative assembly with the estimation for increase in revenue amounting to Rs. 189.49 Crores.

Key Highlights of this budget

  •     There are certain items which are proposed to be exempted from GVAT.
  • Reduction in Electricity duty in case of hotels/Restaurant.
  •     Impose Entry tax in case of OGS purchase through E Commerce.
  • Exemption of Stamp duty in case of Share broking transactions operated and traded from GIFT City, Gandhinagar.
  • Declaration of Amnesty Scheme to resolve outstanding tax issues