Towards the end of the 18th century, England began sending convicts to Australia. The transportation was privately provided but publicly funded. A lot of convicts died along the way from disease due to overcrowding, poor nutrition, and little or no medical treatment. Between 1790 and 1792, 12% of the convicts died, much to the dismay of many good-hearted English men and women who thought that banishment to Australia shouldn’t be a death sentence. On one ship, 37% perished.

❖Stamp Duty exemption

If you have purchased or constructed a house, you might want to look into the provisions of stamp duty exemption. Stamp duty, registration charges, and other expenses that are directly related to the transfer are allowed as deductions under Section 80C. The maximum deduction amount allowed under this section is capped at Rs. 1,50,000.

❖When Can You Claim Deduction?

You can only claim this deduction in the year that you actually make the payment for these expenses. If you buy the property on August 30, 2023, and pay its stamp duty and registration charge, you can claim these expenses under Section 80C only in FY 2023–24. Both an individual and a HUF can claim this deduction in their income tax return. However, it's worth noting that this deduction can be claimed only if you have opted for the old tax regime. If you have opted for a new tax regime, then you are not eligible to claim this deduction.

❏What Expenses Cannot Be Claimed as Deduction?

• Admission fees, the cost of a share, and the initial deposit that a company’s shareholder or co-operative society’s member has to pay to become a shareholder or member.
• The cost of addition, alteration, or renovation that is done after getting a certificate of completion or after the house has been occupied by the buyer or let out.

❖Electricity Duty exemption

An Act to provide for levying a duty on consumption of electrical energy in the State of Maharashtra and for matters connected therewith or incidental thereto. 36 of 2003; XL of 1958. WHEREAS due to the enactment of the Electricity Act, 2003 by the Central Government, radical changes have been ushered in the management of generation, transmission and supply of electricity, and new concepts like power trading, exchange of power, open access, de-licensing of electricity generation, etc. have been introduced which are not the part of the Maharashtra Electricity Duty Act; AND WHEREAS after considering the changes made by the said Electricity Act, the Government of Maharashtra considers it expedient to make a comprehensive law to provide for the levy of a duty on consumption of electrical energy in the State of Maharashtra covering all categories of electricity consumers as per the said Electricity Act, by repealing the existing Maharashtra Electricity Duty Act; it is hereby enacted in the Sixty-seventh Year of the Republic of India as follows  :

• This Act may be called the Maharashtra Electricity Duty Act, 2016.
• It extends to the whole of the state of Maharashtra.
• It shall come into force on such date as the State Government may, by notification in the Official Gazette, appoint.

❖Industrial Promotion Subsidy under PSI -2013

❖Various Incentives such as – Textile subsidy , Technical Up-gradation

❏ Textile Industry

The government is implementing various policy initiatives and schemes to support the development of the textile sector in PAN-India. These schemes and initiatives which promote technology upgradation, creation of infrastructure, skill development and sectoral development in the textile sector, create a conducive environment and provide enabling conditions for textile manufacturing in the country and helps in boosting textile sector through its various schemes, such as the Amended Technology Upgradation Fund Scheme (A-TUFS), Schemes for the development of the Powerloom Sector(Power-Tex), Schemes for Technical Textiles, Scheme for Integrated Textile Parks (SITP),Scheme for Additional Grant for Apparel Manufacturing Units under SITP (SAGAM), SAMARTH- The Scheme for Capacity Building in Textile Sector (SCBTS), Incentive Scheme for Acquisition of Plant & Machinery (ISAPM), Jute (ICARE- Improved Cultivation and Advanced Retting Exercise), Integrated Processing Development Scheme (IPDS),National Technical Textile Mission(NTTM), Silk Samagra, National Handloom Development Programme, National Handicraft Development Programme, Integrated Wool Development Programme (IWDP), North East Region Textiles Promotion Scheme (NERTPS), Rebate of State and Central Taxes and Levies (ROSCTL), Scheme for Production and Employment Linked Support for Garmenting Units (SPELSGU) etc. The government had also approved a special package for the textile sector with an outlay of Rs. 6,000 crores to boost employment generation and exports, particularly in garments and made-ups. Further, major reforms like the removal of anti-dumping duty (ADD) on purified terephthalic acid (PTA) and acrylic fiber have also been taken to encourage the textile sector in the country.

❏Technical Up-gradation

The Ministry of MSME has been implementing the Credit Linked Capital Subsidy and Technology Upgradation Scheme (CLCS-TUS) for promoting competitiveness amongst Micro, Small, and Medium Enterprises (MSMEs) by way of waste reduction through lean manufacturing, support for design improvement, building awareness on intellectual property rights, the Zero Defect, Zero Effect (ZED) Scheme, digitally empowering MSME through digital MSME, and promoting and supporting the untapped creativity of individuals and the adoption of the latest technologies in manufacturing, as well as knowledge-based innovation for MSMEs through incubation across India.

❖GST Registration

Businesses must register as regular taxable persons under the Goods and Services Tax (GST) if their annual revenue exceeds the threshold limit of Rs. 40 lakhs (in the case of goods), Rs. 20 lakhs (in the case of services), or Rs. 10 lakhs, as applicable. GST registration is the term for it. It is mandatory to generate the GSTIN if annual turnover exceeds the above-prescribed limit. If the company conducts business without registering for GST, it is an offense and faces severe penalties. It typically takes 4 to 6 working days to register for GST. In three simple steps, Team Online Legal India can assist you in obtaining GST registration more quickly.

❏Types of GST Registration

Regular, sporadic, non-resident, and e-Commerce operators are some of the different GST registration categories. Casual taxpayers, non-resident taxpayers, and e-Commerce enterprises must register for GST regardless of the turnover criteria.

❏CASUAL TAXABLE PERSONS

According to the GST Act, a casual taxable person is a person who sporadically offers goods or services in a state or union territory where the firm doesn't have a fixed location. Individuals running roaming businesses at shows or seasonal operations would be regarded as casual taxable people under the GST.

❏NON-RESIDENT TAXABLE PERSONS

A non-resident taxable person is any person, corporation, or organization that offers goods or services subject to the GST but does not have a permanent place of business or habitation in India (NRI). Because of this, any foreign person, business, or organization that provides goods or services to India would be regarded as a non-resident taxable person and would have to follow all applicable GST legislation in India.

❏ E-COMMERCE OPERATORS

An "electronic commerce operator" is somebody who owns, operates, or oversees a digital or electronic facility or platform for electronic commerce. Anyone who sells online can be classified as an e-Commerce operator and is consequently required to register for GST, regardless of the amount of business earnings.

❏Required Documents for GST Registration

• PAN of the Applicant (Proprietor)
• Aadhaar card
• Proof of business registration or incorporation certificate
• Identity and address proof of promoters or directors with photographs
• Address proof of the place of business
• Bank Account statement/Cancelled cheque
• Letter of Authorization/Board Resolution for Authorized Signatory
• Rent Agreement in case the PPOB (Principal Place of Business) is rented

❖GST Return filling for manufacturers, Traders, etc.

A GST return is a form that a taxpayer registered under the Goods and Services Tax (GST) law must file for every GSTIN registered. Also, the status of the GSTIN should be active if the taxpayer regularly files the returns. You can verify the same using our GST search tool.

❖ Payment of profession Tax & submission of Regular Return

Many salaried employees might be very well aware of the term ‘professional tax’ as it would have been mentioned in the payslips or Form 16 issued to them. But all of them may or may not understand what it is and why it is appearing in their payslips or Form 16 as a deduction from their salary income. Hence, this article is an attempt to provide a better picture of what and why professional tax is deducted and whether the salaried class is only bearing it.

❖ Assessment of VAT & CST upto June-2017 & Grant of refund.