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Tax Proposals

Sentinel Digital DeskBy : Sentinel Digital Desk

  |  27 July 2016 12:00 AM GMT

* 'Tax Surveillance Wing' to detect and tackle tax evasion & malpractices

* 7 to 14 years jail for transporters/dealers habitually indulging in tax evasion

* 'Submit Bill, Get Prize Scheme' to encourage customers to obtain bills for goods purchased

* VAT exemption for bamboo-based industries in small and medium scale for 3 years

* Hindustan Paper Corporation to get benefit of Input Tax credit on bamboo purchase for 3 years

* Raising exemption limit of agricultural income tax upto Rs. 2.5 lakh from the present limit of Rs 1 lakh for small tea growers/assessee other than companies.

* Reduction of specified land cess per kg of green tea leaf for small tea growers from 25 paise to 20 paise if area of specified land does not exceed 40 hectares

* Amusement tax rates increased from 15% to 20% & from 20% to 30%.

* To collect Rs 1 per ticket from cine-goers for creation of 'Silpee Aru Kalakushuli Kalyan Nidhi' for benefit of cinema/theatre workers

* Reduction in amusement tax rate for cable TV subscribers from Rs 30 to Rs 25

* Ratiolization in entry tax rates to protect local trade & industry

* Amnesty scheme for liquidation of arrears to be launched for all Taxation Acts for liquidation of outstanding dues pertaining to any up to 31 March, 2015

* Cess to be levied on polluting industries notified under Industrial & Investment Policy of Assam, 2014

* To increase the existing zol valuation of commercial plots in the heart of urban areas

* The court fee stamp of Rs 100 to be used for filing tenders in case of State government and its undertakings

* To reduce the stamp duty from existing 2% to 1% in case of women for property registration

* For property registered exclusively in the me of a male or other juridical person, rate of stamp duty raised from 3% to 4%

* To enhance the registration fee from 2% to 3% in case of male or other juridical person for registration of property.

* E-stamping to be increased to cover ten more districts from the existing two districts

* Shifting of point of tax collection on Foreign Liquor under VAT on first point of transaction made within the State.

* To give an option to the wholesale licensee to pay tax on printed MRP basis, in lieu of the tax payable on actual sale price basis.

* To desigte 413 numbers as Choice/Fancy numbers which will be available for auction over the reserve fee as prescribed against each segment

* Tax on two-wheelers to be levied on ad-valorem basis at 6% instead of presently levied on un-laden weight

* VAT exemption only for indigenous mekhala chadar produced locally & sold in Assam

* VAT reduction on gold bullion sold through MMTC to local swar silpis from 1% to 0.75%

* Replacement of Assam Excise Rules, 1945 by Assam Excise Rules, 2016.

* Excise duty on IMFL to be realized at the manufacturer level

* Production of country spirit to be made by bottling plants or the like and sale of country spirit to be by IMFL retail outlets.

*Promotion of Heritage Liquor

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