Under Scheme of CGST act, persons who are to liable for registration requires to obtain registration. Every registered person, has to determine his tax liability by making self-assessment, and after making of payment of tax, is required to furnish correct and complete prescribed returns, as per provisions of the act and rules.
CGST and IGST acts provides that every registered person is liable to pay tax on all intra state and inter state supplies of good and services and he shall accordingly collect and pay tax on such supplies as per provisions of act and rules, at notified rates. Sometimes, due to confusion, ambiguity regarding correct rate of tax applicable on supplies, a registered person with abundant precaution collect tax on supplies at higher rate and pay it in Government tresury.
Government of Maharashtra has enacted Maharashtra settlement of Arrears of Tax, Interest and penalty act 2019 w.e.f. 06-03 2019. It provides for settlement of such outstanding arrears as on 01-04-2019 under Mvat act and other allied act, pertaining to periods upto 30-06-2017.
