Maharashtra Budget 2023 taxation highlights

Maharashtra Settlement of Arrears of Tax, Interest, Penalty or Late Fee Act, 2023 Maharashtra Dy CM (Finance) Shri Devendra Fadnavis during his budget speech proposes Amnesty Scheme on various taxes levied by Sales Tax Department before introduction of GST Act. To provide relief to the common citizen, the industry and business, he propose to introduce amnesty scheme. This Scheme is applicable regarding concessions on various taxes levied by Sales Tax Department before introduction of GST Act. Highlights of The Budget Speech dated 09th March, 2023 Maharashtra government proposes Amnesty Scheme on various taxes levied by GST Department before introduction of GST Act and duration of this Amnesty Scheme will be from May 1, 2023 to October 31, 2023 Complete waiver of the arrears in cases where arrears are Rs. 2,00,000/- or less per year. As a result small dealers will be benefited in around one lakh cases. Dealers having arrears up to Rs. 50 lakhs or less per statutory order will pay only