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K.R. Srivats

New Delhi, June 5

The Finance Ministry has disbursed a sum of Rs 1,114.72 crore to Maharashtra towards compensation for shortfall in tax revenues recorded by the State during July 2005 to January 2006 on account of the introduction of State-level value-added tax from April 1, 2005. A sum of Rs 259 crore had already been disbursed to Maharashtra towards compensation for April-June 2005. Official sources also said that the State has made a VAT compensation claim of Rs 2,200 crore (including a refund component of Rs 1,500 crore for the entire year) for February and March 2006.

More Stories on : Taxation | Maharashtra

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