LAST DATE OF FILLING MVAT AUDIT REPORT IS ON 2ND MARCH 2009
The dealers having gross purchases or sales more than Rs.40.00 Lakhs during the F.Y 2007-08 should get their books of Account audited by Chartered Accountant or Cost Accountant and will have to submit VAT Audit Report to Sales Tax Department by 02/03/2009 earlier it was 31/01/2009.
The dealers holding license under Foreign Country Liquor Regulations should also get their accounts audited and should submit VAT Audit Report to Sales Tax Department by 02/03/2009 irrespective of their gross purchase & sales exceeds Rs.40.00Lakhs.
INDIA’S INTERIM BUDGET: FINANCE MINISTER FAILS TO ACT ON ECONOMIC SLOWDOWN
The Industrialist, investors & common man had a close eye on the interim finance budget and were eagerly waiting for 3rd Stimulus Package in form of the budget. But New Delhi failed to deliver it to its citizen.
Monday was the complete whitewash for everybody. The tax rates for F.Y. 2009-10 were kept same as they were for F.Y 2008-09. No subsidy or tax reliefs were announced in this interim budget. In personal taxation their was need to increase the limit of Chapter VI A Deduction from Rs.1Lac to Rs.1.5Lacs; this would have led saving habit among the people. There was also demand to cut excise duty on various items like steel, automobiles etc. but this was also not fulfilled. To tackle with job loss, unemployment a contributory unemployment fund should have to setup. In this fund their should have equal contribution from employer as well as employee. Both will be allowed to get tax exemption on their contribution towards the fund. Overall in my contest the government failed to deliver the much awaited stimulus package in form of interim budget which was the need of time.
INCREDIBLE INDIA! ROCKS THE WORLD
It was indeed a wonderful experience to watch a Government of India’s Tourism Department add i.e. INCREDIBLE INDIA. I really liked the advertisement. At the beginning I thought it was a add of a TV show but I was surprised to see that it was of government. A deep study has been done by GOI and the making of add has been outsourced to professionals. This is an attempt to promote tourism in India which was affected by 26/11 Bombay Attacks where foreigners were the main target of terrorist. In this add there is no Hollywood/ Bollywood star but an English man has been a main attraction. It has been shown that he travels every corner of India, enjoys food, festivals and also speaks Hindi. I appeal to every body all around the world that India is a safe place and modern country with growing economy and not a slum country which is being portrayed in film SLUMDOG TO MILLIONEAR.
SIXTH PAY: WAS IT NECESSARY?
Recently the Maharashtra Government in India announced implementation of 6th Pay Commission for its state government 
employees from retrospective date i.e. 1st Jan 2006. This pay is going to benefit nearly 14 lacs employees & 7042 pensioners. I don’t understand why government is partial between government employees & private employees. On going economic slowdown in India the government should save its earnings and should it for productive purposes. The fact is government people are inefficient as compaired to private employees.
Every one in the world is trying to cut their unproductive expenses and saving. The Maharashtra government is already in debt by Rs. 144325/- (INR) & 6th Pay will enhance the debt by Rs. 1837/- Crores (INR). The earning are also down due to economic slowdown in India & financial crisis all over the world in form of tax revenue. One of the reasons why the government is implemented 6th pay because of the Central & State elections are their in coming months. Is it a dirty politics or matured one?