Madam Cama Marg, Hutatma Rajguru Chowk, Mantralaya,
Mumbai 400 032, dated the 29th April 2016.
MAHARASHTRA VALUE ADDED TAX ACT, 2002.
No. VAT-1516/C.R. 62/Taxation-1.—In exercise of the powers conferred by sub-section (3D) of section 8 of the Maharashtra Value Added Tax Act, 2002 (Mah.IX of 2005), the Government of Maharashtra hereby exempts fully from payment of tax with effect from the 1st April 2016, the transfer of property in goods, involved in the sizing and warping of yarn, subject to the following conditions and restrictions :—
(1) The said goods shall be consumed or used in sizing and warping of yarn.
(2) The set off admissible to the dealer,—
(i) in respect of goods referred to at serial no. (1) and consumables and packing materials used for the sizing and warping of yarn, shall be of tax in excess of the amount calculated at the rate notified, from time to time by the Central Government for the purposes of subsection (1) of section 8 of the Central Sales Tax Act, 1956 (74 of 1956) on the said purchase price;
(ii) in respect of capital assets used exclusively for the sizing and warping of yarn, shall be as per rule 52 of the Maharashtra Value Added Tax Rules, 2005.
By order and in the name of the Governor of Maharashtra,
R. D. BHAGAT,
Deputy Secretary to Government.