Mvat Notification

  • Jan
  • 14

MVAT: Due date for filing form e-704 has extended to 30.01.2015

Kindly note that the due date for filing form e-704 has been extended up to 30th January 2015 from 15th January 2015. Related Notification is as follows :-

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  • Jan
  • 07

MVAT- Revised instructions regarding stay in appeals

In the Trade Circular No. 15T of 2014 dated 6th August 2014 amendments to various Acts administered by the Sales Tax Department were explained. On page no. 11 and 12 of the said Trade Circular, in pare 5, amendments relating to section 26 of the Maharashtra Value Added Tax Act, 2002 were explained. It has been observed, in this regard, that certain appellants are delaying the submission of the declarations for the purpose of fixing part payment, resulting in delay in disposing the appeals.

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  • Dec
  • 29

MVAT: Physical Submission of Audit Report in Form 704 for FY 2013­-2014

he last date for submission of audit report u/s 61 of the MVAT Act 2002, for the period 2013-14 is 15th January 2015. After uploading their audit reports for the period 2013-14, the dealers shall submit the following documents:

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  • Nov
  • 29

CST return mandatory for interstate sales, branch transfer, export/import from 01.10.2014

Trade Circular No. 20T 2014 Dated 25/11/2014 A dealer, who is claiming deduction, u/s. 8(1) of the MVAT Act or deduction u/s 6A (branch transfers etc.) of the CST Act, in the MVAT return shall be required to file a return, under the CST Act. In other words, a dealer who is effecting the following types of transactions during a period shall be required to file CST return: (i) inter-State sales u/s. 3 of the CST Act, (ii) goods transferred u/s. 6A(1) of CST Act,

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  • Aug
  • 11

MVAT – Computerized Desk Audit (CDA)

Now the department has developed a system called as the Computerized Desk Audit i.e. CDA. This new utility envisages analysis of electronic data pertaining to e-Returns, audit reports in form e-704 and annexures thereof uploaded by all the tax payers.

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  • Aug
  • 07

Amendments to various Acts administered by Sales Tax Department

To give effect to the Budget proposals for the year 2014-15, a Bill (Legislative Assembly Bill No. XIX of 2014) to amend the various Acts, administered by the Sales Tax Department has been passed by the Legislature and has received assent of the Governor on 26th June 2014.

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  • Aug
  • 05

MVAT – Late Payment fees for VAT return up to February 2014 reduced to Rs. 1000

A dealer, who has not filed any of the return that was due on or before 1st April 2014 may file such return/returns up to 30th September 2014 by paying late fee of rupees 1,000 for each return, instead of rupees 5,000. The last return that was due before 1st April 2014 was that of February 2014.

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  • Apr
  • 21

FAQs on computation of VAT liability of developers after SC judgment in case of L&T Ltd.

In view the judgment of the Supreme Court in case of M/s. Larsen & Toubro Limited & Anr, (65 VST 1), it was necessary to frame rules under MVAT Act to provide for‑ i) the levy of tax on goods which are used in works contract, from the stage when agreement is entered with the flat buyer. ii) the deduction of the actual cost of the land which is higher than that determined in accordance with the Ready Reckoner.

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  • Apr
  • 06

‘Stainless steel wire’ is not declared goods under MVAT Provisions

The Supreme Court in the case of Bansal Wire industries (42 VST 372) had occasion to decide as to whether ‘Stainless steel wire’ is covered within the entry (ix) of Clause (iv) of section 14 of the CST Act, 1956. The Supreme Court referred to entry No. (ix) and entry (xvi) of clause of (iv) of section 14 of the CST Act. It observed the following,

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  • Mar
  • 29

MVAT – Due dated extended for Audit Report in form 704 for 2012-13 by developers to 10th May 2014

It is represented by the Institute of Chartered Accountant of India that in view of the later Trade Circular No. 7T of 2014 , developers are allowed to file revise returns till 30th April 2014. Audit Report cannot be finalized till the time the return are filed. It is, therefore, requested to extend the date for filing of Audit Report pertaining to developers.

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