Eye on polls, Delhi CM announces relief for traders
21 March 2013 7:16 AM IST
Keeping an eye on the upcoming Delhi assembly polls, Delhi chief minister Sheila Dikshit on Wednesday announced major relief to small traders, with a proposal to raise the threshhold limit for registration under VAT from Rs 10 lakh to Rs20 lakh. The CM also did not propose any new taxes or revised rates on any item, in other words presenting a ‘Tax-free budget’.
After presenting the Budget, Dikshit, while addressing the media at the secretariat claimed that a new scheme will come into effect from April1 2013, under which traders will be allowed to pay tax based on their overall turnover. This scheme will enable contract dealers to discharge their tax liability in a simplified and hassle-free manner,’ she said.
Dikshit said that in the past the government had reduceded VAT on Compact Fluorescent Light(CFL), as these are energy-saving. But Light Emitting Diades(LED) are even more efficient and environment friendly and so ‘I propose to reduce the rate of tax on LED lights from 12.5 per cent to 5 per cent,’ she said.
For children, Dikshit said, ‘I propose to exempt VAT on empty pencil/geometry box and also on charki and manza used for flying kites; At present a 12.5 per cent tax is levied on these.’ the CM added. She also proposed to reduce VAT on desi ghee from 122.5 per cent to 5 per cent.
After presenting the Budget, Dikshit, while addressing the media at the secretariat claimed that a new scheme will come into effect from April1 2013, under which traders will be allowed to pay tax based on their overall turnover. This scheme will enable contract dealers to discharge their tax liability in a simplified and hassle-free manner,’ she said.
Dikshit said that in the past the government had reduceded VAT on Compact Fluorescent Light(CFL), as these are energy-saving. But Light Emitting Diades(LED) are even more efficient and environment friendly and so ‘I propose to reduce the rate of tax on LED lights from 12.5 per cent to 5 per cent,’ she said.
For children, Dikshit said, ‘I propose to exempt VAT on empty pencil/geometry box and also on charki and manza used for flying kites; At present a 12.5 per cent tax is levied on these.’ the CM added. She also proposed to reduce VAT on desi ghee from 122.5 per cent to 5 per cent.
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