Transcript Presentation Title Here

 Presented by Sri. K M Mani, Hon’ble Minister of Finance, Govt.
Of Kerala on 13th of March, 2015.
 Seven Themes of focus:
1. A vibrant agricultural sector
2. Major strides in infrastructure
3. Sampoorna Arogya Keralam –A Universal Health initiative
4. Digital Kerala
5. Housing for all
6. Encouraging entrepreneurship in the State
7. Welfare Measures -motto of development with care
Budget Highlights
 Constituted a Rubber Price Stabilization Fund of Rs.300 crore
to support purchase of 20000 metric tones at a market
support price of Rs. 150 per kilogram.
 Rubber wood exempted from tax & remove all restrictions in
the free transport of rubber wood to any other state in India
 Set 2000 crore rupees for major infrastructure projects in the
state
 Kerala to be the first state to offer interest-free loans to
farmers, which would increase the inflow of credit to the
agricultural sector by an additional 2,000 crore rupees
 Various health insurance and welfare schemes to be launched
for the weaker sections of the society, including the launch of
smart health card
 Rs. 25 crore provided
to meet the cost of development of the
web applications and services and for the purchase of
hardware
 Funds raised from the market to be used for the suburban
railway corridor, light metros in Thiruvananthapuram and
Kozhikode.
 Major up gradation of the inland waterway system and
airport, power, port, water supply and highway projects
 Allocated Rs. 300 crore for Paddy procurement, Rs. 10 crore
for Neera production, Rs 75 crore allocated for coconut sector
 Allocated Rs 600 crore for Vizhinjam project & Rs 940 crore
for Kochi Metro
 Welfare scheme for citizens above 80 years of age who
have none to take care of them
 Allocated Rs 475 crore for IT sector, Rs 482 crore for
housing sector & Rs 162 crore for flats for poor.
 Allocated Rs 10 crore for Milma, Rs 181 crore for
betterment for fishermen's families & Rs 46 crore for clean
Kerala programs
 Kadanad Vocational Higher Secondary school to be
renamed G Karthikeyan Vocational Higher Secondary
school & Rs.7 crore allotted for new school building.
 The tax exemption granted in 2012 to honey, honey bee
box and accessories would be given retrospective effect
with effect from 01-04-2005 onwards.
 The rent limit under luxury tax with respect to rooms in
charitable hospitals enjoying exemption under VAT, will be
raised to Rs.2000.
 “License for Rent” included to attract same stamp duty as
that of rent deeds (lease deeds). This is expected to raise
revenue to the extent of Rs.20 Crore.
 One time settlement scheme for updating financials for
of
organizations under Travancore Kochi Literary, Scientific and
Charitable Societies Registration Act, 1955 implemented
. It would be made clear that registration under the Act to be
made mandatory if turnover reaches Rs.10 lakh whether
taxable or not.
 Such organizations allowed to update the returns by paying a
one time fee of Rs.500 for every year delay.
 The filing of returns will be automated on online platform.
This is likely to generate a revenue of Rs.15 crore.
 Kerala Budget 2015-16 encourages entrepreneurship in
the State
 Allocated Rs. 12 crore for Performance Linked Support
Scheme for Startups, for 1000 startups with performance
incentive of Rs 10,000 per startup per month for the first
two years.
 Allocated Rs. 40 crore for the Entrepreneurship Support
Scheme to support micro, small and medium enterprises.
 An amount of Rs.6 crore has been provided as seed fund to
assist young entrepreneurs.
 Plantation Tax withdrawn, but be levied on plantations
held by companies, societies or trusts. This will lead to a
potential revenue loss of Rs.2 crore.
 Charitable hospitals registered under Sec.12(AA) of the
Income Tax Act, exempted from VAT on payment of a fee of
Rs.10000/-.
 Multilevel Marketing Companies, their distributors &
agents are liable for registration and pay tax under the
Kerala Value Added Tax irrespective of their turnover.
 Companies & entities maintaining an e-commerce website
liable to file the details of inbound and outbound goods
sold through such sites on monthly basis.
 Transporting agency to file returns with respect of goods
dealt by them.
 Tax practitioners on implementing GST, an annual renewal
fee of Rs.500/- will be introduced. Photo identity cards will
also be issued to them.
 Negative list as existed prior to 2008 would be reintroduced,
incorporating interior decoration and furnishing contracts.
These contracts would be non compoundable expecting an
additional revenue of Rs.50 crore.
 Dealers in cooked food eligible for compounding under
Section 8(c)(i) permitted to pay tax at compounded rates for
the years prior to their registration also.
 TDS rates for Work Contracts executed under Sampoorna
Gramin Rosgar Yojna or Beneficiary Committee, made
equivalent to their tax rates.
Items
Old Rates
New Rates
Rice, Rice Products,
Wheat
0%
1%
Maida, Atta, Suji, Rava
0%
5%
Petrol
31.80%
31.80% + Rs.1 per liter
Diesel
24.52%
24.52% + Rs.1 per liter
Copyright of Cinema
Film
0%
5%
Beedi
0%
14.5%
Nylon, Polyester Ropes
& Twine
0%
5%
Items
Old Rates
New Rates
Plastic Broom, Brushes
& Mopes
0%
5%
Poultry Feeds
0%
1%
Bullions (Other than
approved by RBI)
1%
5%
Disposable Styrofoam
cups & plates, Thermo
coal & Styrofoam sheets,
Printing flex
0%
20%
Plastic Toys
5%
14.5%
Items
Old Rates
New Rates
14.5%
0%(For a Year)
Plastic, Electronic
waste, Plastic recycling
Plant
5%
0%
F.A.C.T byproduct Wall
panel ( Gypsum)
14.5%
0%
5%
0%
Electronic Items
manufactured for
Defense
14.5%
5%
All textiles
2%(TOT)
LNG
Rubber wood
1%(VAT)
Registration & Renewal Fee (KVAT Act)
Items
Old Rates
New Rates
VAT Registration
(Turnover above Rs. 25
Lakhs)
Rs.500/-
Rs. 1,000/-
VAT & CST Registration
& Renewal Fee
(irrespective of
Turnover)
Rs. 1,500/-
Rs. 3,000/-
Luxury Tax – Star Hotel
Rs. 6,250/-
Rs. 9,375/-
Luxury Tax – Hotel
within Corporation
Limits
Rs. 1,250/-
Rs. 1,500/-
Luxury Tax – Hotels
within Municipality
Limits
Rs. 1,000/-
Rs. 1,500/-
Items
Old Rates
New Rates
Luxury Tax – Hotels
within Grama Panchayat
Limits
Rs. 750/-
Rs. 1,125/-
Halls within Corporation
Limits
Rs. 1,000/-
Rs. 1,500/-
Halls within Municipality
Limits
Rs. 750/-
Rs.1,125/-
Halls within Grama
Panchayat Limits
Rs. 500/-
Rs.250/-
Hospital, Home stay,
Service Apartment, Villa
Rs. 1,000/-
Rs. 1,500/-
House Boat –
Registration
Rs. 1,000/-
Rs. 1,500/-
Rs. 500/-
Rs. 750/-
House Boat – Renewal
Security Deposit (Kerala Money Lenders Act)
Lending Limit
Old Deposit Amount
New Deposit Amount
Less than Rs. 1,00,000/-
Rs. 5,000/-
Rs. 10,000/-
Rs. 1,00,000/- to
Rs. 5,00,000/-
Rs. 10,000/-
Rs. 10,000/-
Nil
Rs. 10,000 + 50%
increase in security
applicable to other slabs.
Above Rs. 5,00,000/-
Penalties (Kerala Money Lenders Act)
Ruling Section
Old Amount
New Amount
Section 11
Rs. 1,000/-
Rs.10,000/-
Section 13
Rs. 1,000/-
Rs.10,000/-
Section 17
Rs.50,000/-
Rs. 5,00,000/-
Section 18
Rs.1,000/-
Rs. 25,000/-
Section 18A
Rs. 500/-
Rs. 5,000/-
Section 18B
Rs. 500/-
Rs. 5,000/-
Section 18C
Rs. 25,000/-
Rs.50,000/-
Stamp Duty Value
Items
Old Rates
New Rates
Agreement,
Memorandum
Agreement
Rs. 100/-
Rs. 500/-
Duplicate copy of
Dutiable product
Rs.100/-
Rs. 500/-
Customs, Excise Bond
Rs. 50/-
Rs. 500/-
Advocate Enrollment
Certificate
Rs. 250/-
Rs. 500/-
Company MoA only
Rs. 1,000/-
Company MoA & AoA
Rs. 500/-
Rs. 1,000/-
Security Bond,
Mortgage Deed
Rs. 100/-
Rs. 500/-
ATM Registration –
Panchayat areas
Rs. 2,500/-
As per Article 10
Rs. 1,250/-