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March 4, 2022

Govt of Gujarat Tax Proposal 2022-23  

by CA Shivam Jaiswal in Income Tax

Govt of Gujarat Tax Proposal 2022-23  

Government of Gujarat :: Budget: 2022-23

Global epidemic of Covid has adversely affected the economic activities of the people of the state in the last two years. Under the circumstances, Government has announced tax exemption as well as food security measures to restart sluggish economic activities. Some of the relief measures taken are:

  • Reduction in the value added tax (VAT) on petrol and diesel by 4.5% and 7.5% respectively, reducing the selling price by Rs. 7 per liter.
  • Exemption from stamp duty for loan to self-help group-Sakhi Mandal and LPG connection under Pradhan Mantri Ujjawala Yojana to Women.
  • Exemption from payment of motor vehicle tax to contract carriage buses.
  • Exemption from payment of municipal property tax to hotel, restaurants, water parks, cinemas-multiplexes and gymnasiums.
  • Exemption from payment for fixed charge in electricity bill to hotel, restaurants, water parks, cinemas-multiplexes and gymnasiums.
  • In line with Hon’ble Prime Minister’s vision of a self-reliant India and with a view to continue State’s journey of development, there is no change in existing tax rates and no new taxes are proposed in this budget.

under the existing structure of the Profession Tax; salary or wage earners in receipt of Rs. 6,000 to Rs. 8,999 per month and Rs. 9,000 to Rs. 11,999 per month need to pay Rs. 80 per month and Rs. 150 per month respectively. Government has proposed that salary or wage upto Rs.12,000 shall be fully exempted from payment of Profession Tax. This will provide a relief of about Rs.198 crore to about 15 lakh middle class taxpayers.

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