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 Presented by Sri. K M Mani, Hon’ble Minister of Finance, Govt. Of Kerala on 13 th of March, 2015.  Seven Themes of focus: 1. A vibrant agricultural.

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Presentation on theme: " Presented by Sri. K M Mani, Hon’ble Minister of Finance, Govt. Of Kerala on 13 th of March, 2015.  Seven Themes of focus: 1. A vibrant agricultural."— Presentation transcript:


2  Presented by Sri. K M Mani, Hon’ble Minister of Finance, Govt. Of Kerala on 13 th 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

3  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

4  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

5  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

6  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.

7  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.

8  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.

9  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.

10  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.

11  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.

12  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.

13 ItemsOld RatesNew Rates Rice, Rice Products, Wheat 0%1% Maida, Atta, Suji, Rava0%5% Petrol31.80%31.80% + Rs.1 per liter Diesel24.52%24.52% + Rs.1 per liter Copyright of Cinema Film 0%5% Beedi0%14.5% Nylon, Polyester Ropes & Twine 0%5%

14 ItemsOld RatesNew 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%

15 ItemsOld RatesNew Rates LNG14.5%0%(For a Year) Plastic, Electronic waste, Plastic recycling Plant 5%0% F.A.C.T byproduct Wall panel ( Gypsum) 14.5%0% Rubber wood5%0% Electronic Items manufactured for Defense 14.5%5% All textiles 2%(TOT) 1%(VAT)

16 ItemsOld RatesNew 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 HotelRs. 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/-

17 - ItemsOld RatesNew 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/- House Boat – RenewalRs. 500/-Rs. 750/-

18 Lending LimitOld Deposit AmountNew 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/- Above Rs. 5,00,000/-Nil Rs. 10,000 + 50% increase in security applicable to other slabs.

19 Ruling SectionOld AmountNew Amount Section 11Rs. 1,000/-Rs.10,000/- Section 13Rs. 1,000/-Rs.10,000/- Section 17Rs.50,000/-Rs. 5,00,000/- Section 18Rs.1,000/-Rs. 25,000/- Section 18ARs. 500/-Rs. 5,000/- Section 18BRs. 500/-Rs. 5,000/- Section 18C Rs. 25,000/-Rs.50,000/-

20 ItemsOld RatesNew Rates Agreement, Memorandum Agreement Rs. 100/-Rs. 500/- Duplicate copy of Dutiable product Rs.100/-Rs. 500/- Customs, Excise BondRs. 50/-Rs. 500/- Advocate Enrollment Certificate Rs. 250/-Rs. 500/- Company MoA only Rs. 1,000/-As per Article 10 Company MoA & AoARs. 500/-Rs. 1,000/- Security Bond, Mortgage Deed Rs. 100/-Rs. 500/- ATM Registration – Panchayat areas Rs. 2,500/-Rs. 1,250/-



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