Category Archives: Uncategorized

All you wanted to know about Personal Loans

There was a time when borrowing used to be considered as almost a sin. Whereas today, you name an incident a loan is available for you from not one but many resources. Whether you want to get married, go for a vacation, celebrate a festival – ‘Personal loan’: your loyal and honest companion will be with you 24*7!

Personal loans are attractive:

It is very simple and easy to get this loan. This loan is unsecured loan, it means you do not have to give any guarantee to acquire this loan.

As it requires very few documents to process the loan, documentation is simple. After you put in the request and fulfill the eligibility criteria, you are in receipt of the money within a week or two.

You generally get 1-5 year’s time to repay the loan. You need not give anything (movable, immovable assets) as a security to process this loan.

If this is the case then why any financial institution will give away a loan like this? Why they will try to benefit their customers at the cost of their own risk? Alternatively, there is something in between the lines, which we need to pay attention to…, let us see

Basics of personal loan:

First, let us know about the documents mandatory to apply for the personal loan. And these include

  • Pan card, passport or driving license as identity proof.
  • You can submit passport, ration card , electricity / telephone bill, Gas Bill, Bank statement as a residence proof.
  • If you are working then you need to give your salary slip, form 16 and 6-months’ bank statement. And for a person who is self-employed needs to submit his 2-3 years’ accounts statement/IT returns as proof of income.

Remember when you give such proofs to the organization while applying for the personal loan .You are actually giving them a blueprint of your wealth condition. So don’t be under the impression that bank is asking for no documents from you.

Coming to the interest rates:

As banks claims it to be, loan with no end-use restrictions and no-security. Interest rates charged upon Personal are extremely high. They can range between 16 to 30 % annually. More to that, interest rates differ from bank to bank and person to person.

For salaried person if interest rate is ‘X’ then for the same personal loan it can be ‘X+1 or 2%’ for self-employed person. For government employee interest rates may go down further. So depending upon your repaying capacity and bank’s willingness to lend you can negotiate for the better rates. You can even offer your Equities, M.F. and insurance policies as security to bank which will increase your credibility and may decrease interest rates.

Other charges:

Interest, of course, is the most significant of the costs. But that doesn’t mean you should ignore the other charges. These would typically include

  • A fee which is charged for complete procedure. This processing fee is non-refundable if your loan is approved and partially refundable if your loan is rejected. It can be between 0.5% to 3% of the loan amount.
  • If you prepay your loan then bank might lose out on interest money acquired on your personal loan .Hence penalty is charged on the prepayment of the loan .And this can be up to the 5% of your loan amount.Not only that bank might charge you for the things like documentation, late fee, duplicate statement, service tax etc.

A personal loan can be proved beneficial in certain conditions. How? Let us explore that too…

Examples of Right usage of personal loan:

  • Setting a debt which has higher interest rates: Say, you borrow Rs 1 lakh from a moneylender for your sister’s wedding of which interest rate is 2.5% per month. So practically, you will pay Rs. 30,000 as interest to your lender while loan amount will be the same. In such a case, you can take a personal loan to repay the loan to moneylender. A loan of Rs 1 lakh for two years at 18% a year means an equated monthly installment of Rs 4,992. After two years, you would have not only paid off the entire loan, you would have paid only Rs 19,818 as interest, much less than the Rs 30,000 you would have paid the money lender as interest for one year.
  • Paying off a large credit card balance: A personal loan can also be used to pay off a substantial credit card balance that is being rolled over for months. Paying just the minimum amount on the card bill will not help you as the interest is charged over the total bill amount and is very high, usually 2.5-3% a month. It’s better to divert the money to paying the EMI of a personal loan. You could save 16-30% depending on the rate of interest you are able to get on the loan.

So you can always opt for personal loan when you are in dire necessities mentioned above but with a caution that” Personal loan is injurious to your financial health”!!!!!!

ALL ABOUT PPF ACCOUNT

PPF Account and PPF Interest Rat

We all have heard a lot about PPF Account and seen our parents make investment but what is PPF Interest Rate in India and what are the benefits of investing in this form of Instrument? This is one question which usually crops up in our minds and in this article we have tried to explain the basics and the benefits of investing in this form of Tax-Saving Instrument.

What is PPF?

PPF Account refers to Public Provident Fund Accountand is a Long Term Debt Scheme of the Govt. of India on which regular interest is paid. Any Individual in India (whether Salaried or Self-Employed or any other category) can invest in this scheme and can earn a handsome tax-free return on the same which is usually higher than the return offered by Banks on Fixed Deposits.

Public Provident Fund can be opened in any Post Office and some authorized branches of Banks. Many Individuals have expressed a preference towards maintaining a PPF Account in a Bank as compared to a Post Office as Banks permit online deposits in your Public Provident Fund whereas Post Offices don’t provide this facility.

PPF-Account

Non Resident Indians (NRI’s) are not allowed to invest in Public Provident Fund. However, if someone opens a Public Provident Fund while he is a Resident of India but subsequently becomes a NRI, he shall be allowed to continue investing in his account.

PPF Account can be opened on behalf of a minor either by father or mother, but both cannot open this type of account on behalf of a minor. Grand Parents cannot open public provident fund account on behalf of a minor. However, in case of death of both the parents, the grand parents can act as a guardian of the minor and open an account.

MAXIMUM AND MINIMUM AMOUNT TO BE DEPOSITED IN PPF EACH YEAR

As per the Public Provident Fund Scheme (Amendment Rules 2014), at the time of opening an account for the 1st time, either on his own account or on account of a person for whom he is a guardian shall apply in Form A, togethor with the initial amount of subscription i.e. Rs. 100.

On receipt of the application form, the Accounts Officer shall open the account and issue a passbook in which all entries related to deposits, loans, withdrawls should be stated. In case of Online Banking, a Statement of Account should be issued in place of the Passbook at the discretion of the account holder.

Although a PPF Account can be opened with Rs. 100, as per the Public Provident Fund Act, 1968 framed by the Govt of India, the Minimum amount to be invested in this account every year is Rs. 500 and the Maximum amount that can be deposited in aPPF Account every year earlier was Rs. 1 Lakh. This limit has been increased from Rs. 1 Lakh to Rs. 1.5 Lakh in the Interim Budget 2014 presented by Finance Minister Arun Jaitley on 10th July 2014.

Every subscription shall be made in Cash/Crossed Cheque/Demand Draft/Pay Order/Online Transfer in favour of the Accounts Officer at the place at which that office is situated.

If a Public Provident Fund Account Holder does not deposit Rs. 500 every year in his account, a penalty of Rs. 50 each year would be levied along with the arrears of subscription of Rs. 500 for each such year.

This amount may be paid in 12 monthly instalments or in lump-sum at the option of the Account Holder. Earlier HUF’s were also allowed to invest but now HUF’s are not allowed to invest in Public Provident Fund. RBI has also announced that if any HUF had opened a Public Provident Fund Account prior to 13th May 2005, they would be allowed to continue and would be closed on expiry of 15 years from the date of opening the account

PPF Interest Rate

The PPF Interest Rates are benchmarked against the 10-year Government Bond Yield and is 0.25% higher than the average Govt. Bond Yield. PPF Interest Rates were earlier revised annually but from 2016 onwards, these rates are revised quarterly. The current PPF Interest Rate as announced is 8.0%.

PPF Interest is computed for a calendar month on the basis of the lowest balance in an account between the close of the 5th day and the end of the month and the Interest on PPF Account is credited to the account of the account holder at the end of the year.

PPF Interest Rate for the current and the past few years is given in the table below

HOW TO EARN MAXIMUM PPF INTEREST

As explained above, Interest on PPF Account is computed on a monthly basis depending on lowest balance in your account between 5th and end of the month. Therefore, if you don’t deposit any additional amount in your PPF Account before 5th of the month, you wont be earning any interest on such additional amount. In such a case, your lowest monthly balance would be on 5th and irrespective of the amount you deposit after 5th of the month, you won’t be earning any interest on such additional amount.

Therefore, it is always advisable to make all additional deposits before the 5th of every month so as to earn maximum interest on such additional amount.

The ideal way to earn the maximum possible interest on ppf account would be to deposit Rs. 1.5 Lakh before 5th April so that you can earn interest on the whole 1.5 lakh for the complete financial year. A one-time deposit made at the beginning of the year will help you earn maximum possible interest.

In case you intent to deposit small amounts every year, try to do the same before 5th of the calender month as explained above. to explain in figures, if you deposit Rs. 10,000 before the 5th of every month for the next 10 months, you would earn Rs. 75 extra per month which would lead to Rs. 750 every year. If this amount is deposited after 5th, you won’t be able to earn this additional ppf interest.

The Interest on your PPF Account would also be computed in the same manner as discussed above. To compute the PPF Interest, you can also refer to thisPPF Calculator prepared by Manish Chauhan of Jagovestor.com

Tenure of Public Provident Fund

PPF in India can be closed at any time after the expiry of 15 years from the date on which it was opened. The whole amount in this account can be withdrawn at the time of Closure. For Closure of account, the account holder shall apply in ‘Form C’ and also furnish the Pass Book of his Account.

Extension of PPF Account – However, on the expiry of 15 years, the Account holder can also apply for extension of duration for a further time period of 5 years. In case an account holder opts for extension, he shall also be eligible for Partial Withdrawal by applying in ‘Form H’, subject to the condition that the total of the withdrawals during the extended 5 years shall not exceed 60% of the balance in his account at the time of extension.

Pre-Mature Withdrawal from Public Provident Fund – There is a lock-in period of 5 years and an Account Holder can withdraw money only at the end of the 5thyear. The maximum amount that can be withdrawn is50% of the amount that stood in his account (whichever is lower among the following two): –

  • At the end of 4th year or
  • At the end of the previous year in which Withdrawal is sought to be made

If the Account Holder has taken any Loan against this amount, it shall also be deducted from the above figure computed above.

With effect from 1st April 2016, pre-mature closure of PPF Account has also been allowed in certain genuine cases like serious ailment of the account holder, spouse, children or parents, or if the amount is needed for higher education.

However, this option would only be available to those accounts which have completed 5 years from the date of opening. Moreover, a penalty of 1% reduction in interest would also be levied on the whole deposit.

LOANS ON PPF ACCOUNT

Loans can be availed from the 3rd financial yearexcluding the year of deposit. Amount of such loans must not exceed 25 percent of the amount that stood to the account holder’s credit at the end of the second year immediately preceding the year in which the loan is applied for.

A fresh loan is not allowed when a previous loan or interest is outstanding. Interest Rate is 1% if repaid within 36 months and at 6% on the outstanding loan after 36 months. The repayment may be made either in lump-sum or in installments.

Tax Benefit of Investing in Public Provident Fund

The amount reflected in the Public Provident Fund Account consists of 2 parts, firstly the amount which you have deposited in this account i.e. the Principal Amount and secondly the Interest that has been earned on this amount deposited.

The tax benefits for investing in this account are available for both the Principal component and the Interest component.

  1. Tax benefits on the Principal component: The amount deposited in this account can be claimed as a deduction from the Gross Total Income under section 80C at the time of filing of income tax return. The amount that can be claimed as a deduction under section 80C is limited to a maximum of Rs. 1.5 Lakh p.a. (Increased from Rs 1 Lakh to Rs 1.5 Lakh in the Budget 2014). The total taxable income computed after deduction under section 80C is liable to tax as per theincome tax slabs of the taxpayer for that year.
  2. Tax benefits on the Interest on PPF Account: The interest on PPF Account is also exempted from the levy of income tax. In other words, no income tax is levied on the interest on PPF Account and this income is tax free.

PPF ACCOUNT VS TAX SAVING FIXED DEPOSIT

Another Fixed Interest earning Investment which is allowed to be claimed as deduction under Section 80C is Tax Saving Fixed Deposit. Both Public Provident Fund and Tax Saving Fixed Deposits are allowed as deduction under Section 80C upto a maximum limit of Rs. 1.5 L p.a.

The maturity of Tax Saving FD is 5 years as compared to maturity of Public Provident Fund which is 15 years. But the interest earned on Tax Saving Fixed Deposit is taxable as compared to interest earned on PPF Account which is tax free.

The following article throws more light on the same and explains when investing in Public Provident Fund is advisable and when investing in Tax Saving FD is advisable

PPF ACCOUNT VS NATIONAL SAVINGS CERTIFICATE (NSC)

Both Public Provident Fund and National Savings Certificate (NSC) are schemes wherein deposits are made in the Post Office/specified banks but are backed and maintained by the govt. However, the major difference between these two is that National Savings Certificate is a one time deposit scheme whereas in Public Provident Fund you have to invest a minimum specified amount every year so as to keep the account active.

The Maturity period of National Savings Certificate is also lower i.e. 5/10 year as compared to the maturity of the Public Provident Fund which is 15 years

.

  1. Investors are requested to note that each individual is eligible for only 1 PPF Account per person. If an Individual is detected with having more than 1 Account (except when on behalf of minor), then the 2nd Account would be closed and the entire amount invested shall be refunded. Only the principal amount will be refunded and the Interest thereon will be forfeited
  2. Public Provident Fund can only be opened in Individual’s Name and not in a Joint Name. However, a nominee can be appointed for the Public Provident Fund. On the death of the Account Holder, the nominees cannot make any additional contribution on the death of the deceased.
  3. If the Account holder dies and no nominee has been appointed by him, the amount deposited in his Public Provident Fund Account would be awarded to his Legal Heirs

Is GST applicable on warehousing of agricultural produce such as tea (i.e. black tea, white tea etc.),processed coffee beans or powder, pulses (de-husked or split), jaggery, processed spices, processed dry fruits, processed cashew nuts etc.?

Is GST applicable on warehousing of agricultural produce such as tea (i.e. black tea, white tea etc.),processed coffee beans or powder, pulses (de-husked or split), jaggery, processed spices, processed dry fruits, processed cashew nuts etc.?

  • 1. As per GST notification No. 11/2017-Central Tax (Rate), S.No. 24 and notification No. 12/2017- Central Tax (Rate), S.No. 54, dated 28th June 2017, the GST rate on loading, unloading packing, storage or warehousing of agricultural produce is Nil.
  • 2. Agricultural produce in the notification has been defined to mean “any produce out of cultivation of plants and rearing of all life forms of animals, except the rearing of horses, for food, fibre, fuel, raw material or other similar products, on which either no further processing is done or such processing is done as is usually done by a cultivator or producer which does not alter its essential characteristics but makes it marketable for primary market”
  • 3. Tea used for making the beverage, such as black tea, green tea, white tea is a processed product made in tea factories after carrying out several processes, such as drying, rolling, shaping, refining, oxidation, packing etc. on green leaf and is the processed output of the same.
  • 4. Thus, green tea leaves and not tea is the “agricultural produce” eligible for exemption available for loading, unloading, packing, storage or warehousing of agricultural produce. Same is the case with coffee obtained after processing of coffee beans.
  • 5. Similarly, processing of sugarcane into jaggery changes its essential characteristics. Thus, jaggery is also not an agricultural produce.
  • 6. Pulses commonly known as dal are obtained after dehusking or splitting or both. The process of de-husking or splitting is usually not carried out by farmers or at farm level but by the pulse millers. Therefore pulses (dehusked or split) are also not agricultural produce. However whole pulse grains such as whole gram, rajma etc. are covered in the definition of agricultural produce.
  • 7. In view of the above, it is hereby clarified that processed products such as tea (i.e. black tea, white tea etc.), processed coffee beans or powder, pulses (de-husked or split), jaggery, processed spices, processed dry fruits, processed cashew nuts etc. fall outside the definition of agricultural produce given in notification No. 11/2017-CT(Rate) and 12/2017-CT(Rate) and corresponding notifications issued under IGST and UGST Acts and therefore the exemption from GST is not available to their loading, packing, warehousing etc. and that any clarification issued in the past to the contrary in the context of Service Tax or VAT/ Sales Tax is no more relevant.

MP VAT QUARTERLY RETURN

Please consider before filing Quarterly VAT Return
वित्तीय वर्ष 15-16 के  विवरणपत्र (fourth Quarter) को प्रस्तुत करने की अंतिम दिनांक 30.04.16 है। इस विवरणी को भरने के पूर्व आपसे यह अपेक्षा की जाती है कि जिन व्यवसाईयों को आपके द्वारा माल का क्रय किया गया है या जिन व्यवसाईयों को  आपके द्वारा माल विक्रय किया गया है। उन व्यवसाईयों को क्रमश: क्रय एवं विक्रयों की सूची भेजकर यह सुनिश्चित कर लिया जावे कि जितनी क्रय अथवा विक्रय हमारे द्वारा दर्शाई गई है, उतनी ही क्रय या  विक्रय उनके द्वारा विवरणपत्रों में दर्शाई जा रही है। यदि इस प्रकार से क्रय एवं विक्रय का मिलान हमारे द्वारा रिटर्न प्रस्तुत करने के पहले कर लिया जाता है तो रिटर्न प्रस्तुत करने के पश्चात् किसी प्रकार का कोई मिस्मेच शेष नहीं रहेगा तथा कर निर्धारण के समय मिसमैच के कारण इनपुट टैक्स रिबेट अमान्य होने के कारण निकलने वाली अनावश्यक डिमांड से मुक्ति मिल सकेगी | 

Introduction of Presumptive taxation scheme for persons having income from profession

Introduction of Presumptive taxation scheme for persons having income from profession

The existing scheme of taxation provides for a simplified presumptive taxation scheme for certain eligible persons engaged in certain eligible business only and not for persons earning professional income. In order to rationalize the presumptive taxation scheme and to reduce the compliance burden of the small tax payers having income from profession and to facilitate the ease of doing business, it is proposed to provide for presumptive taxation regime for professionals.

In this regard, new section 44ADA is proposed to be inserted in the Act to provide for estimating the income of an assessee who is engaged in any profession referred to in sub-section (1) of section 44AA such as legal, medical, engineering or architectural profession or the profession of accountancy or technical consultancy or interior decoration or any other profession as is notified by the Board in the Official Gazette and whose total gross receipts does not exceed fifty lakh rupees in a previous year, at a sum equal to fifty per cent. of the total gross receipts, or, as the case may be , a sum higher than the aforesaid sum earned by the assessee. The scheme will apply to such resident assessee who is an individual, Hindu undivided family or partnership firm but not Limited Liability partnership firm.

Under the scheme, the assessee will be deemed to have been allowed the deductions under section 30 to 38. Accordingly, the written down value of any asset used for the purpose of the profession of the assessee will be deemed to have been calculated as if the assessee had claimed and had actually been allowed the deduction in respect of depreciation for the relevant assessment years.

 It is also proposed that the assessee will not be required to maintain books of account under sub-section (1) of section 44AA and get the accounts audited under section 44AB in respect of such income unless the assessee claims that the profits and gains from the aforesaid profession are lower than the profits and gains deemed to be his income under sub-section (1) of section 44ADA and his income exceeds the maximum amount which is not chargeable to income-tax.

These amendments will take effect from 1st April, 2017 and will, accordingly, apply in relation to the assessment year 2017-18 and subsequent years.

Summery of Budget

Budget – tax reforms

– relief to small tax payers
Rebate of rs 5000 from 2000 for income below 50000

– presumptive taxation for business limit increased to 2cr

– presumptive income for professionals – profit being 50% of turnover – limit 50L

– phasing out of exemptions
– additional depreciation to be curtailed,  r&d benefit to be curtailed to 150%

– new mfg companies taxedd at @25%, if no profit linked deduction

– business with turnover less than 5cr to be taxed at 29% from next year

– 10% income in respect of patent registered in India

– long term capital gain term for unlisted shared down to 2 years

– poem to be deferred by 1 year

– country by country reporting applicable for company having turnover of 750 billion euro

– no change in exemption limit for individuals

– General anti avoidance time to be implemented from April 1, 2017

– first time home buyer – additional interest deduction subject to limits

– if income from dividend greater than 10 lakh, additional tax @10%

– surcharge @15% up from 12% for super rich – income exceeding 1cr

– infrastructure cess on cars

– excise duty on jewellery and silver items without input credit

– excise duty on branded garments exceeding rs. 1000

– excise duty increased on tobacco products by 10 to 15%

– limited period compliance window for domestic resident @ 45% of undisclosed income 1 St June to 30 September 2016

– 3 lakh case pending before first appellate authority, new scheme for reduction of litigation (eligible under both direct and indirect tax)

– dispute amendment for cases affected by retrospective amendment

– penalty rates changed from 50% & 200% in specified circumstances

– disallowance u/s 14A – rule 8d to be modified to not increase expenditure incurred

– recommendation of eashwar committee accepted

– TDs provision rationalised

– 206AA not apply if non resident has tax identification number (in absence of pan)

– scope of e-assessment to be widened

– interest u/s 244A – interest rate hiked to 9% from 6% – officer to be held accountable

MP Budget Highlights

मध्यप्रदेश के वित्तमंत्री के द्वारा वित्तीय वर्ष 2016-17
के लिए पेश बजट मे वैट एक्ट के प्रावधानों की समीक्षा।

राज्य सरकार के द्वारा बजट मे विभिन्न वस्तुओं पर छुट प्रदान की है। ज्ञातव्य हो कि राज्य सरकार के द्वारा बजट के पूर्व कर की दरों मे वृध्दि कर दी गई थी। अतः सरकार को बजट मे अधिक वस्तुओं पर वैट नही बढाना पडा जिसके कारण होने वाली आलोचनाओं का सामना नही करना होगा।
बजट के मुख्य-मुख्य बिंदु इस प्रकार है:-
1.पर्यावरण की सुरक्षा 
              पर्यावरण की सुरक्षा हेतु बैटरी चलित कार एवं रिक्शा, जैविक कीटनाशक, बायो डिग्रेडेबल बैग एवं लिफाफे, इंडक्शन  चुल्हे एवं बर्तन इत्यादि पर कर की दरों मे कमी प्रस्तावित की गई है ताकि इन वस्तुओं के उपयोग से पर्यावरण की रक्षा की जा सके। साथ ही पर्यावरण को दूषित करने वाली वस्तुओं जैसे कि प्लास्टिक का समान, गैस गीजर पर कर की दर मे वृध्दि प्रस्तावित है जिससे इन वस्तुओं के उपयोग को हतोत्साहित किया जा सकेगा।
2.स्वास्थ्य
      स्वास्थ्य को बढावा देने हेतु सोया मिल्क डायलिसिस मशीन इत्यादि को सस्ता किया गया है।
3.करो का युक्तियुक्तकरण
3.1  हाल ही मे राज्य सरकार के द्वारा सभी प्रकार के वाहनों पर वैट की दर को 14 % से बढाकर 15 % किया गया था किन्तु पास के राज्यों मे हैवी मोटर व्हीकल पर कर की कम दर को देखते हुए हैवी मोटर व्हीकल पुनः 14 % किया जाना प्रस्तावित है।
3.2   पूर्ण दर से कर चुकाकर क्रय किए गए माल को अन्तर्राज्यीय विक्रय मे बेचने पर मध्यप्रदेश मे चुकाये गए पूर्ण कर का रिफण्ड प्रदान करना होता है जिससे राजस्व मे कमी आती है। इस समस्या के समाधान हेतु यह प्रावधान लाए जा रहे है कि व्यवसायी के द्वारा जितना केन्द्रीय विक्रय कर जमा किया जाएगा उसे उतना ही आयटीआर प्राप्त होगा।
4.व्यापारियों को सुविधाएं
4.1  वर्तमान मे 20 लाख तक के टर्नओवर वाले व्यवसायियों को वार्षिक रिटर्न प्रस्तुत करने की पात्रता है। इस लिमिट को 20 लाख से बढाया जाकर 40 लाख किया जा रहा है।
4.2 व्यवसायियों को विभाग से पासवर्ड डाक के माध्यम से प्राप्त होता है जिसमे विलम्ब होने से व्यवसायियों को परेशानियों का सामना करना पडता है। इस समस्या के समाधान हेतु अब पासवर्ड व्यवसायी को उनके रजिस्टर्ड मोबाइल पर प्राप्त हो जाएगा जिससे व्यवसायी तुरंत अपना कार्य कर सकेंगे।
4.3 वित्तीय वर्ष 2011-12 तक के प्रकरणो मे विवादित बकायाकरों के समाधान हेतु कर समाधान स्कीम लायी जा रही है।
4.4 वर्तमान मे व्यवसायी को रजिस्ट्रेशन सर्टिफिकेट विभाग से मेन्युअली प्राप्त करना होता है। किन्तु अब व्यवसायी इसे अपने डीलर प्रोफाइल से डाउनलोड कर सकेंगे। इसी के साथ व्यवसायी अपने कर निर्धारण आदेश, उनके द्वारा जमा किए गए कर, विभाग के द्वारा जारी नोटिस एवं वैधानिक फार्म की जानकारी अपने डीलर प्रोफाइल से प्राप्त कर सकेंगे।
4.5 वर्तमान मे ई-कामर्स कम्पनियों के द्वारा प्रदेश के बाहर से प्रदेश के ग्राहकों को सीधे माल बेचा जा रहा है जिससे जहां एक ओर राज्य सरकार को कोई राजस्व प्राप्त नही हो रहा है वही दूसरी ओर स्थानीय खेरची व्यापारियों का व्यापार प्रभावित हो रहा है इस समस्या के समाधान हेतु ई-कामर्स कम्पनियों के द्वारा माल के मध्यप्रदेश के सीधे विक्रय किए जाने पर 6 % की दर से प्रवेशकर देय होगा। इससे ई-कामर्स कम्पनिया मध्यप्रदेश के व्यवसायियों के माध्यम से माल का विक्रय करने को बाध्य होगी।
4.6 नए मल्टीप्लेक्स
4.7 अभ्यास पुस्तिका, ग्राफ बुक, ड्राईंग बुक, प्रयोगशाला नोट बुक के निर्माताओं के द्वारा क्रय किए गए कागजों पर 5% के स्थान पर 2% का रिर्वसल किया जाकर 3% की दर से इनपुट टैक्स रिबेट दिया जाना प्रस्तावित है।
5. प्रशासनिक कसावट
5.1 वर्तमान मे मासिक कर दाताओं को कर अगले माह की 10 तारीख तक जमा कराने की सुविधा प्राप्त है किन्तु अब 10 तारीख के स्थान पर व्यवसायियों को 6 तारीख तक ही कर जमा कराना होगा।
5.2 वर्तमान मे कर विलंब से जमा कराने पर 1.5% प्रतिमाह ब्याज देय होता है। किन्तु अब प्रथम 3 माह मे ही 1.5% की दर से ब्याज देय होगा। 3 माह के पश्चात विलंब जारी रहने पर 2% की दर से ब्याज देय होगा।
5.3 मध्यप्रदेश के भीतर चाय, लोहा एवं इस्पात, ऑइल सीड, पान मसाला एवं खाद्य तेल पर स्थानीय ट्रांजीट पास के द्वारा ही माल परिवहित किया जा सकेगा।
5.4 वर्तमान मे पीथमपुर का क्षेत्राधिकार धार मे होने से उधोगपतियों को परेशानी का सामना करना पडता है अतः इस समस्या के समाधान हेतु पीथमपुर का क्षेत्राधिकार इन्दौर मे तथा मालनपुर का क्षेत्राधिकार ग्वालियर मे स्थानांतरित किया जाना प्रस्तावित है।
5.5 वर्तमान मे केवल 66 वस्तुओं पर फार्म 49 लागु है। अब सभी करयोग्य वस्तुओं को मध्यप्रदेश मे लाने पर फार्म 49 लागु किया जाना प्रस्तावित है।
5.6 अपंजीयत ठेकेदारों से अब 2% के स्थान पर 3% की दर से स्तोत्र पर कटौती की जाएगी।
5.7 मेन्यूअल पंजीयन की व्यवस्था पूर्णतः समाप्त की जा रही है।
5.8 वृत्तिकर अधिनियम एवं विलासिता अधिनियम के अंतर्गत भी पंजीयन जारी करने हेतु एक दिन की समय सीमा लागु की जा रही है।
5.9 आयुक्त वाणिज्यिक कर द्वारा प्रशासित समस्त विधानों के तहत पंजीयत व्यवसायियों के लिए यूनिक आई डी (पंजीयन क्रमांक) की व्यवस्था की जा रही है।
5.10 एक पक्षीय कर निर्धारण आदेश के निराकरण हेतु 60 दिन की समयावधि निश्चित की जा रही है
6. कर की दरों मे कमी
6.1कर से मुक्ति:-
o सुखे बेर को 5 % से घटाकर 0%।
o बेर चूर्ण को 14 % से घटाकर 0%।
o 38 कृषि यंत्रों को 5 % से घटाकर 0 %।
o बैटरी चलित कार एवं रिक्शा को 5 % से घटाकर 0 %।
o बायो डिग्रेडेबल सामग्री से निर्मित बैग एवं लिफाफे को 5 % से घटाकर 0 %।
o तेल रहित खली, सोयामील, कपास्या खली, मक्का खली पर 0 %।
6.2 कर की दर मे कमी:-
o सेना मे कार्यरत अधिकारियों/जवानों को केन्टीन स्टोर से बेचे जाने वाली कार पर 15 % के स्थान पर 4 %।
o 12 हजार किलोग्राम से अधिक के बाहर के वाहन पर 15 % के स्थान पर 14 %।
o सोयामील, डायलिसिस मशीन एवं कंज्यूमेवल्स, बायो आधारित धुंआ रहित चुल्हा, गैस स्टोव तथा इंडक्शन कुक टॉप के पार्टस एवं एसेसरीज पर 14 % के स्थान पर 5 % की दर से वैट लागु किया जाना प्रस्तावित है।
6.3 कर की दरों मे बढोत्री।
o प्लास्टिक थैली, प्लास्टिक से निर्मित कप, ग्लास, प्लेट, थाली, कटोरी, कांटा, छुरी, चम्मच तथा पोलीथिन थैली एवं प्लास्टिक बैग तथा एच.डी.पी.ई बैग तथा सैक को छोडकर अन्य सैक पर कर की दर 5 % से बढाकर 14 % किया जाना प्रस्तावित है।
o 10 हजार रू. मूल्य से अधिक की सायकल पर 0 % के स्थान पर 5 % वैट प्रस्तावित है।
o ग्लास मिरर तथा गैस गीजर पर 5 % के स्थान पर 14 % कर।
7. प्रवेशकर।
7.1 प्रवेशकर की पूर्व की रियायतों को यथावत् रखा जाएगा।
7.2 नैचुरल गैस को मध्यप्रदेश के बाहर से आयात कर सी-2/सी-3 के निर्माण मे उपयोग करने पर प्रवेशकर सामान्य दर से लागु।
8. केन्द्रीय विक्रय कर।
8.1 केन्द्रीय विक्रय कर की पूर्व की रियायतों को यथावत् रखा जाएगा।
9.मनोरंजन कर।
9.1 मनोरंजन कर की छुट सिनेमाघरों के भु-स्वामी के अतिरिक्त पट्टे पर लेने वाले पट्टेदार को भी दिया जाना प्रस्तावित है।

Pitalia & Associates
Chartered Accountants