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Gujarat Budget Highlights 2016-17

Gujarat Budget Highlights 2016-17

This report covers Gujarat Budget Highlights, 2016-17

VALUE ADDED TAX

Item that becomes TAXFREE

  • Bamboo and bamboo‐articles (Except furniture)
  • Pedal Rickshaw and cycle rickshaw
  • Mosquito Net
  • Sanitary Napkins and adult diapers
  • Frozen semen

 

Ceramic products: from current rate of tax 15% including additional tax to 5% including additional tax

 

Vehicles purchased by institutions (Institutional purchases) increase the rate of tax from current rate of tax 15% to 20% on the vehicles (except school buses, college buses, passenger buses and goods trucks) purchased by Companies, Firms, Institutes, Associations, Trusts, Government departments, Boards‐ Corporations, Local Self Governments, etc.

 

The proposed increase will not be applicable to purchases made by individuals for personal use.

 

Luxury car/ SUV and luxury two wheeler

Normally, luxury cars/SUVs and luxury two wheelers are used by economically sound people. Therefore budget propose to increase the rate of tax from current rate of tax 15% to 20% on luxury cars/SUVs with price more than ` 15 lakhs and luxury two wheelers with price more than ` 2.5 lakhs

 

Pan Masala now tax at 25% from the present rate of 15%

 

Industrial Salt to be tax at the rate of 5% on usage in manufacture of goods

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