Kerala Finance Bill, 2025, passed without major revisions
5 days, 6 hours ago

Kerala Finance Bill, 2025, passed without major revisions

The Hindu  

The Kerala Finance Bill, 2025, which gives effect to the financial proposals of the State government for the 2025-26 fiscal, was passed by the Assembly on Tuesday without any major revisions. In their dissent notes to the Bill, the Opposition UDF members slammed the government for burdening the public with hefty tax proposals, including a 50% hike in the basic land tax slabs. The Bill amended the following Acts to give effect to the financial proposals in the budget speech; the Kerala Court Fees and Suits Valuation Act, the Kerala Land Tax Act, the Kerala General Sales Tax Act, the Kerala Motor Vehicles Taxation Act, the Kerala State Goods and Services Tax Act, and the Kerala Finance Act. The Finance Bill also introduced the General Amnesty Scheme, 2025, for settling certain arrears, and the Flood Cess Amnesty, 2025, to settle arrears payable as Kerala Flood Cess.

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History of this topic

Tax proposals for 2025-26 ‘minimal,’ reiterates Finance Minister K.N. Balagopal
1 week, 4 days ago

Tax proposals for 2025-26 ‘minimal,’ reiterates Finance Minister K.N. Balagopal

The Hindu  

Balagopal, while moving a motion for referring the Kerala Finance Bill, 2025 to a Subject Committee, in the State Legislative Assembly on Wednesday, reiterated that the new tax proposals for the 2025-26 fiscal were “minimal”. On the Opposition UDF charge that the court fee hikes proposed in the Budget were too steep, Mr. Balagopal said the revenue expected from this …

A Federal Dilemma: How The New Income Tax Bill 2025 Threatens State Revenues And Fiscal Autonomy
1 week, 6 days ago

A Federal Dilemma: How The New Income Tax Bill 2025 Threatens State Revenues And Fiscal Autonomy

Live Law  

The New Income Tax Bill 2025 is regarded as a significant reform intended to streamline tax systems and enhance compliance. This article critically examines how the New Income Tax Bill 2025 jeopardizes fiscal federalism, the growing dependence on non-divisible surcharges and levies, and the potential risks states may soon face with diminishing financial strength and reduced fiscal autonomy. Although the …

TN Budget 2025: State debt to rise to ₹9.29 lakh crore by March 2026
2 weeks, 2 days ago

TN Budget 2025: State debt to rise to ₹9.29 lakh crore by March 2026

New Indian Express  

CHENNAI: The debt burden of the Tamil Nadu government will burgeon to ₹9,29,959.30 crore by March 31, 2026, according to the budget documents for the year 2025-26. In view of the revenue augmentation measures, including improvement in tax administration and collection efficiency, the revenue deficit is expected to reduce to ₹31,282.23 crore in 2026-27 and subsequently reduce further to ₹18,026.48 …

Assembly session to resume on March 3
4 weeks ago

Assembly session to resume on March 3

The Hindu  

The 13th session of the 15th Kerala Assembly will resume on Monday after a break. The remaining days of the session will see the presentation of a number of important bills and the discussion and voting on the demands for grants for the 2025-26 fiscal. The Assembly is likely to see heated debate on a number of issues including the …

Tax Monthly Digest: January 2025
1 month, 3 weeks ago

Tax Monthly Digest: January 2025

Live Law  

SUPREME COURT Motor Accident Claims - Tax Returns Can Be Accepted To Determine Income Only If They Are Appropriately Produced : Supreme Court Case name: New India Assurance Co. Ltd. V. Sonigra Juhi Uttamchand. A division bench of Justices Yashwant Varma and Dharmesh Sharma ruled, “The Commissioner, while seeking to review an order passed under the Act and in purported …

No populist measure as Kerala budget focusses on infra push
1 month, 3 weeks ago

No populist measure as Kerala budget focusses on infra push

Hindustan Times  

Kerala finance minister KN Balagopal presented the financial outlay of the state for FY 2025-26 on Friday, seeking to mop up revenue mobilising measures through tax hikes on land and vehicles, push the accelerator on building infrastructure and steering clear of populist measures ahead of local body elections this year and the assembly polls next year. In an address that …

Kerala Budget 2025-26: Finance Minister announces hike in land tax, places emphasis on economic growth
1 month, 3 weeks ago

Kerala Budget 2025-26: Finance Minister announces hike in land tax, places emphasis on economic growth

The Hindu  

A 50% hike in the land tax, expected to bring in an additional ₹100 crore for the State government, plans to transform the Kerala Infrastructure Investment Fund Board into a “revenue-generating entity,” as well as announcements aimed at boosting investment-friendly infrastructure, marked the 2025-2026 Kerala Budget presented by Finance Minister K.N. Additional resource Compared to last year, Mr. Balagopal’s latest …

Kerala Budget 2025-26: Court Fee To Be Increased, Proposal To Establish A Centre For Legal Studies, Funds To Curb Cyber Bullying, Fake News
1 month, 3 weeks ago

Kerala Budget 2025-26: Court Fee To Be Increased, Proposal To Establish A Centre For Legal Studies, Funds To Curb Cyber Bullying, Fake News

Live Law  

The Kerala Budget 2025-26 has proposed revision in Court fees in many area. 2000 before Sub Court or District Court Suits for cancellation of decrees – based on the market value of the property Suits under Survey and Boundary Act – Rs. 1000 before Sub Court or District Court Suits not otherwise provided for – Rs. 100 per petition for …

Kerala Budget 2025: Opposition UDF terms Budget ‘a false and cruel construct with no significance’
1 month, 3 weeks ago

Kerala Budget 2025: Opposition UDF terms Budget ‘a false and cruel construct with no significance’

The Hindu  

Kerala’s Leader of the Opposition V.D. At a press conference, Mr. Satheesan said the Budget was “an inconsequential and embroidered document replete with false claims and hyperbole.“ He said the Budget had no bearing on public life because the government’s coffers were dry due to years of fiscal mismanagement and lax tax administration. Mr. Satheesan said that the “clandestine plan …

Kerala Budget 2025-26 LIVE updates: FM Balagopal says Kerala has survived most intense phase of financial crisis, announces Rs 750 crore for rehabilitation and rebuild initiatives in landslide-hit Way
1 month, 3 weeks ago

Kerala Budget 2025-26 LIVE updates: FM Balagopal says Kerala has survived most intense phase of financial crisis, announces Rs 750 crore for rehabilitation and rebuild initiatives in landslide-hit Way

The Hindu  

Balagopal presented the Kerala Budget for the 2025-26 fiscal in the State Legislative Assembly on Friday. The Minister said Kerala has survived the most intense phase of financial crisis without any of its welfare schemes or development work being affected. He accused the Centre of consistently reducing Kerala’s share in the divisible tax pool from 3.88% in the 10th finance …

Tough balancing act on the cards in Kerala Budget
1 month, 3 weeks ago

Tough balancing act on the cards in Kerala Budget

The Hindu  

The 2025-26 State Budget, to be presented on Friday, will be closely watched for measures designed to boost the economy and how Finance Minister K.N. Mr. Balagopal’s upcoming Budget presentation garners considerable interest in the context of the Union Budget’s silence on Kerala’s pleas for special financial packages for rehabilitating the landslide survivors in Wayanad and tackling rising human-wildlife conflicts. …

New Kerala governor sticks to govt script in House
2 months, 1 week ago

New Kerala governor sticks to govt script in House

Hindustan Times  

Kerala governor Rajendra Vishwanath Arlekar on Friday highlighted the state’s commitment to poverty eradication and social justice while pointing out mounting financial pressures due to declining shares in Union fiscal transfers in what was his first policy address to the state assembly. Kerala governor Rajendra Vishwanath Arlekar on Friday highlighted the state’s commitment to poverty eradication and social justice while …

Kerala Guv Highlights Financial Strain in Assembly Address
2 months, 1 week ago

Kerala Guv Highlights Financial Strain in Assembly Address

Deccan Chronicle  

Thiruvananthapuram: Kerala Governor Rajendra Vishwanath Arlekar addressed the state's financial issues during his inaugural policy speech at the 13th session of the 15th Kerala Legislative Assembly on Friday. He noted that Kerala is experiencing financial stress due to the lack of GST compensation and decreased grants from the Central Government. In his address, Arlekar stated,"Kerala has been facing financial stress …

Kerala Budget session to begin on Jan 17 with Governor’s policy address
2 months, 2 weeks ago

Kerala Budget session to begin on Jan 17 with Governor’s policy address

The Hindu  

The 13th session of the 15th Kerala Assembly will begin on Friday with a policy address by Governor Rajendra Vishwanath Arlekar. Long session Mr. Shamseer said he hoped that the Congress-led UDF Opposition would “cooperate” as the 13th session was a long one which offered it enough opportunities to ask questions. Before the session winds up on March 28, the …

Credit Available On Advance Tax Paid For Stock-Transferred: Kerala High Court
9 months ago

Credit Available On Advance Tax Paid For Stock-Transferred: Kerala High Court

Live Law  

The Kerala High Court has held that the petitioner will be entitled to credit for the entire amount paid in terms of Circular No. 50/2006 and the definition of input tax in Section 2 of the KVAT Act indicates that the tax paid in terms of Circular No. In a notice issued to the petitioner under Section 25 of the …

CAG finds fault with Kerala’s off-Budget borrowings again
1 year, 1 month ago

CAG finds fault with Kerala’s off-Budget borrowings again

The Hindu  

Off-Budget borrowings have yet again drawn the criticism of the Comptroller and Auditor General of India whose latest audit report was tabled in the Kerala Legislative Assembly on February 15. Apart from borrowings made by the Kerala Infrastructure Investment Fund Board and the Kerala Social Security Pension Ltd, the borrowings under a bill discounting system also have drawn flak this …

The severe erosion of fiscal federalism
1 year, 1 month ago

The severe erosion of fiscal federalism

The Hindu  

On February 8, Kerala Chief Minister Pinarayi Vijayan will lead a protest in New Delhi against the Centre for “placing Kerala on a financial embargo”. Kerala has moved the Supreme Court contending that the Centre’s imposition of a Net Borrowing Ceiling on the State, which limits borrowings from all sources, violates Article 293 of the Constitution. Major infrastructure projects initiated …

Kerala Budget reflects fiscal squeeze; expert calls for radical change
1 year, 1 month ago

Kerala Budget reflects fiscal squeeze; expert calls for radical change

New Indian Express  

KOCHI: The numbers put forth by finance minister KN Balagopal in the budget reveal the financial challenges faced by the state, indicating only nominal changes that are unlikely to spur substantial transformation. The budget projected a fiscal deficit of 3.4% for FY25, a slight reduction from current fiscal’s revised estimate of 3.45%, while revenue deficit is anticipated to rise to …

Kerala HC Seeks State's Response In Plea Challenging Constitutional Validity Of S.219AD(5) Of Panchayat Raj Act Enacted Through 2023 Ordinance
1 year, 1 month ago

Kerala HC Seeks State's Response In Plea Challenging Constitutional Validity Of S.219AD(5) Of Panchayat Raj Act Enacted Through 2023 Ordinance

Live Law  

A plea has been moved in the Kerala High Court challenging the constitutional validity of Section 219AD of the Kerala Panchayat Raj Act, 1994, which had been enacted by an Ordinance promulgated by the Governor on December 7, 2023. In this regard, Section 219AD of the statute prescribes that a user fee shall be remitted in order to avail the …

Kerala’s public debt comes down to ₹2.38 lakh crore
1 year, 2 months ago

Kerala’s public debt comes down to ₹2.38 lakh crore

The Hindu  

Amid the financial strains that put the Kerala government in a fix making it difficult for it to meet its fiscal obligations efficiently, a document tabled by Finance Minister K.N. Balagopal in the Assembly on Tuesday revealed that the State’s public debt has come down to ₹2.38 lakh crore at the end of March 2022-2023. As per the accounts of …

Kerala’s borrowing limit cut drastically: Balagopal
1 year, 10 months ago

Kerala’s borrowing limit cut drastically: Balagopal

The Hindu  

In a move that could severely affect State finances, the Centre has drastically cut down the State’s borrowing limit, Finance Minister K.N. According to the Minister, the State would be deprived of about ₹20,000 crore due to the slashed borrowing limit and revenue deficit grant in 2023-24. The State’s open market borrowings had come under the spotlight after the Centre …

Kerala Finance Minister hints at new law to expedite revenue arrear collection
2 years, 1 month ago

Kerala Finance Minister hints at new law to expedite revenue arrear collection

The Hindu  

Finance Minister K. N. Balagopal said the government weighed amendments to the existing laws relating to the levy of tax on sales and trade to expedite revenue arrear collection. Speaking to reporters on the sidelines of the Communist Party of India State secretariat meeting at the AKG Centre here, Mr. Balagopal said the government also planned more amnesty schemes for …

Explained | Kerala’s mounting public debt
2 years, 7 months ago

Explained | Kerala’s mounting public debt

The Hindu  

The story so far: Over the past few months, Kerala’s mounting debt liabilities have been brought into sharp focus with the Reserve Bank of India, the Comptroller and Auditor General, and the opposition Congress-led United Democratic Front flagging the issue. Kerala Infrastructure Investment Fund Board A body corporate constituted by the Government of Kerala to mobilise financial resources outside of …

Kerala GST Dept. Invites Application From Traders To Avail Benefits Of Amnesty Scheme
2 years, 9 months ago

Kerala GST Dept. Invites Application From Traders To Avail Benefits Of Amnesty Scheme

Live Law  

The Kerala GST Department announced an amnesty scheme in 2022 to pay unpaid tax debts from before the implementation of GST. The policy would apply to outstanding amounts owed under different statutes, including the Kerala Value Added Tax Act, the Central Sales Tax Act, the Tax on Luxuries Act, the Kerala Surcharges Act, the Kerala Agriculture Income Tax Act, and …

NRI Tax : Kerala Assembly Passes Resolution Against Budget Proposal To Amend Section 6 Income Tax Act
5 years, 1 month ago

NRI Tax : Kerala Assembly Passes Resolution Against Budget Proposal To Amend Section 6 Income Tax Act

Live Law  

The Kerala Legislative Assembly on Thursday passed a resolution moved by Chief Minister Pinarayi Vijayan urging the Central Government to withdraw the proposal to bring amendments in Section 6 of the Income Tax Act in respect of residential status of Indians.The Finance Bill 2020 proposed to amend Section 6 of the Income Tax Act 1961 to reduce the period of …

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