Govt reduces tax on MHADA’s cessed buildings to ₹250
The removal of the additional monthly service tax of 665.5 rupees was announced by Deputy Chief Minister Devendra Fadnavis on Wednesday, providing relief to the occupants of MHADA's (Maharashtra Housing and Area Development Authority) cessed buildings. Residents would now be required to pay a tax of 250 rupees instead, Fadnavis said in a speech to the legislative assembly.
Fadnavis assures redevelopment soon
He promised that the plan for redeveloping these risky cessed buildings will be put into action shortly in response to queries about it posed by members across party lines. Fadnavis also talked about the notices that were delivered to the stores housed in these buildings. The government has given the go-ahead for 483 store tenants from Girgaon, Worli, and Lower Parel to pay taxes.These stores paid a monthly service tax of $250 up until March 2019, when it was increased to $500 with a 10% annual rise clause. As a result, the monthly service tax is currently set at 665.5. The sum is less than what each shop tenant would typically spend each month.
It's interesting to note that the overall monthly cost for each shop, including shared power costs, property and water taxes, and other costs, comes to 2,000 yen. Currently, there is a temporary hold on levying the amended service tax or sending out letters.
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