MVAT

Maharashtra VAT assessments – Denial of Set-off denied and Addition to turnover in an arbitrary way – Need for revamp of assessment procedure

Goods and Services Tax - Maharashtra VAT assessments – Denial of Set-off denied and Addition to turnover in an arbitrary way – Need for revamp of assessment procedure 1. The procedure followed in VAT assessments under Maharashtra VAT Act has been putting the dealers to severe hardship, so far as it relates to denial of set-off and addition to turnover [&helli...

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Justice delayed – Justice denied – Another possible case

Goods and Services Tax - 1. Section 26 of Maharashtra VAT Act (MVAT Act) was amended by the State Legislature on 15 April 2017, by which condition of pre-deposit of certain percentage of disputed tax amount at the time of filing 1st and 2nd appeals was introduced. 2. Sub-sections (6A), (6B) and (6C) to Section 26 read as under: “26. […]...

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PTEC And PTRC Registration in Maharashtra

Goods and Services Tax - PTEC stands for Professional Tax Enrolment Certificate and PTRC stands for Professional Tax Registration Certificate. Usually these Registration are required to conduct business in Maharashtra and in many other States. PTEC allows to pay professional tax of a business entity and also of the professional or owner of the business. In other ...

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India is My Country & Paying Other’s Taxes is My Duty

Goods and Services Tax - Taxpayer will have to pay TDS as per provisions of Income Tax. It means while giving remuneration to other, tax is required to be deducted and deposited with the government....

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Appeal Provisions Under Maharahstra Settlement of Arrears of Tax, Interest & Penalty Act 2019

Goods and Services Tax - 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....

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Maharashtra- Periodicity for PT payment & Filing Return for FY 2021-22

Goods and Services Tax - Periodicity for Paying Tax and Filing Return under PT Act for the F.Y. 2021-22 Instructions:‑ 1. Periodicity of the PTRC dealers who are required to Pay Tax and File Return Monthly or Yearly under PT Act is published by the Department and the list is kept in the Excel sheet attached under the head “PTRC […]...

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Maharashtra budget 2021- Concession in Stamp Duty to Women

Goods and Services Tax - Concession in Stamp Duty by 1 percent over the prevailing rate exclusively to Women, provided the transfer of house property or registration of sale deed is in the name of women. Increasing State Excise Duty to Rs. 220 percent of manufacturing cost or Rs. 187 per proof litre whichever is high on branded country liquor only....

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Govt. Dept. still deducting TDS under MVAT Act in GST Era: ICAI

Goods and Services Tax - it has been observed that some of the Govt Departments like PWD & other Municipal Corporations and Local Self Govt bodies continue to deduct TDS as per the provisions of Section 31 of Maharashtra Value Added Tax Act, 2002....

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Budget 2018 Speech by Maharashtra FM Sudhir Mungantiwar

Goods and Services Tax - In my last budget speech, I had mentioned about the Jal and Bhoomipoojan for Chatrapati Shivaji Maharaj Memorial in Arabian Sea near Mumbai at the hands of Honble Prime Minister of India. Now, the tender for this memorial has been finalized and work order has been issued. I am happy to mention that this project will be completed in thirty...

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MVAT Audit Acknowledgement submission date extended to 26.02.2018

Goods and Services Tax - Due to public holidays on 24th and 25th February 2018, last date for submission of physical copy of acknowledgment of Form e-704 is extended by one day i.e. up to 26.02.2018. Source- https://mahagst.gov.in/en/due-public-holidays-24th-and-25th-february-2018-last-date-submission-physical-copy-acknowledgment...

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SC directs Bombay HC to hear issue of short tenure of 2 years for Members of Sales Tax Tribunal

Tax Bar Association Pune Vs The State of Maharashtra & Anr. (Supreme Court) - Supreme Court has directed that the Tax Bar Association v State of Maharashtra pending in the Bombay High Court which challenges the very short tenure of 2 years for Members of Sales Tax Tribunal should be heard finally on 22.2.2021. This is in view of desperate situation of vacancies in the Tribuna...

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Taking of services of operating cranes not amounts to transfer of right to use

Sanghavi Movers Ltd. Vs. State of Maharashtra (MSTT) - Sanghavi Movers Ltd. Vs. State of Maharashtra (Maharashtra Sales Tax Tribunal, Pune) Maharashtra Sales Tax Tribunal held that taking services of operating cranes from appellant to carry out work does not amount to ‘transfer of right to use’ the cranes. it held as follows:- i. VAT and CST...

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Bombay HC refers matter of 10% Mandatory deposit under MVAT to Larger Bench

United Projects Vs State of Maharashtra (Bombay High Court) - The petitioners are aggrieved by the refusal of registration of their appeals filed under the Maharashtra Value Added Tax Act since they have not deposited the ten per cent of the disputed amount now mandated under the amended provision of Section 26 of the Act. They have challenged the validity of ...

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Repeal of VAT Act – Savings clause saves all rules, regulations, orders, notifications, etc

Magma Fincorp Limited Vs State of Maharashtra & Anr. (Bombay High Court) - Magma Fincorp Limited Vs State of Maharashtra & Anr. (Bombay High Court) Section 78 of Maharashtra Goods and Services Tax Related Laws (Amendments, Validation and Savings) Act, 2017, which saves Section 64 of Maharashtra Value Added Tax Act, 2002 is constitutionally valid. Bombay High Court has ...

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Director Bank Account Attachment for default in MVAT Payment by Public Company is unjustified

Girdhari Lal Lath Vs.State of Maharashtra & Ors. (Bombay High Court) - Girdhari Lal Lath Vs. State of Maharashtra & Ors. (Bombay High Court) Since Sub Section (6) of Section 44 of the MVAT Act is subject to the Companies Act, 2013 the definitions and distinctions laid down in the Companies Act, 2013 vis-a-vis public company and private company would be applicable t...

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MVAT: Amendment in Criteria for withdrawal of Assessment based on probable revenue

No. VAT-1521/C.R.1(A)/Taxation-1 - (01/04/2021) - Amendment in Maharashtra Criteria for Selection (on the basis of probable revenue earnings) of the cases for Assessment (Amendment) Scheme, 2021 FINANCE DEPARTMENT Madam Cama Marg, Hutatma Raiguru Chowk, Mantralaya, Mumbai 400 032, dated the 1st April 2021. NOTIFICATION MAHARASHTRA VALUE ADDED TAX A...

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MVAT: Criteria for withdrawal of Assessment based on probable revenue

No. VAT-1521/C.R.1/Taxation-1 - (01/04/2021) - Maharashtra Value Added Tax Criteria for withdrawal (on the basis of probable revenue involved) of the Assessment Proceeding Scheme, 2021- Maharashtra Value Added Tax Criteria for Withdrawal (on the basis of probable revenue involved) of the Assessment Proceedings Scheme, 2021 FINANCE DEPARTMENT Mad...

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MVAT on Liquor specified in Schedule B increased to 65 percent

Notification No. VAT-1521/C.R. 30/Taxation-1. - (24/03/2021) - Amendment in Schedule ‘B’ of the Maharashtra Value Added Tax (MVAT) Act, 2002.(Tax rate of liquor)- Value Added Tax (VAT) on the sale of liquor as prescribed in Schedule-B of Value Added Tax Act is increased from the existing 60 percent to 65 percent vide Notification No. VAT-1521/C.R. 3...

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Section 41(5)- MVAT on Sale of liquor increased to 40 percent

Notification No. VAT-1521/C.R. 30 (A)/Taxation-1 - (24/03/2021) - Value Added Tax (VAT) on the sale of liquor as prescribed in Section 41(5) of Value Added Tax Act is increased from the existing 35 percent to 40 percent vide MVAT notification No. No. VAT-1521 / C.R. 30 (A) / Taxation-1 dated 24th March 2021....

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MVAT: Discontinuance of Issuing Identification Certificate To Units Under Package Scheme of Incentive

Trade Circular No. 07 T of 2021 - (19/03/2021) - Through Government Resolutions dated 20/12/2018, the Government prescribed the modalities procedure for sanction and disbursement of Industrial Promotional Subsidy (IPS) to all Eligible Units i.e. Mega/Ultra —Mega Projects & units other than Mega/Ultra-Mega Projects....

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Recent Posts in "MVAT"

Maharashtra- Periodicity for PT payment & Filing Return for FY 2021-22

Periodicity for Paying Tax and Filing Return under PT Act for the F.Y. 2021-22 Instructions:‑ 1. Periodicity of the PTRC dealers who are required to Pay Tax and File Return Monthly or Yearly under PT Act is published by the Department and the list is kept in the Excel sheet attached under the head “PTRC […]...

Read More

Maharashtra VAT assessments – Denial of Set-off denied and Addition to turnover in an arbitrary way – Need for revamp of assessment procedure

Maharashtra VAT assessments – Denial of Set-off denied and Addition to turnover in an arbitrary way – Need for revamp of assessment procedure 1. The procedure followed in VAT assessments under Maharashtra VAT Act has been putting the dealers to severe hardship, so far as it relates to denial of set-off and addition to turnover [&helli...

Read More

Justice delayed – Justice denied – Another possible case

1. Section 26 of Maharashtra VAT Act (MVAT Act) was amended by the State Legislature on 15 April 2017, by which condition of pre-deposit of certain percentage of disputed tax amount at the time of filing 1st and 2nd appeals was introduced. 2. Sub-sections (6A), (6B) and (6C) to Section 26 read as under: “26. […]...

Read More

MVAT: Amendment in Criteria for withdrawal of Assessment based on probable revenue

No. VAT-1521/C.R.1(A)/Taxation-1 01/04/2021

Amendment in Maharashtra Criteria for Selection (on the basis of probable revenue earnings) of the cases for Assessment (Amendment) Scheme, 2021 FINANCE DEPARTMENT Madam Cama Marg, Hutatma Raiguru Chowk, Mantralaya, Mumbai 400 032, dated the 1st April 2021. NOTIFICATION MAHARASHTRA VALUE ADDED TAX ACT, 2002. No. VAT-1521/C.R. 1(A)/Taxatio...

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MVAT: Criteria for withdrawal of Assessment based on probable revenue

No. VAT-1521/C.R.1/Taxation-1 01/04/2021

Maharashtra Value Added Tax Criteria for withdrawal (on the basis of probable revenue involved) of the Assessment Proceeding Scheme, 2021- Maharashtra Value Added Tax Criteria for Withdrawal (on the basis of probable revenue involved) of the Assessment Proceedings Scheme, 2021 FINANCE DEPARTMENT Madam Cama Marg, Hutatma Rajguru Chowk, Man...

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MVAT on Liquor specified in Schedule B increased to 65 percent

Notification No. VAT-1521/C.R. 30/Taxation-1. 24/03/2021

Amendment in Schedule ‘B’ of the Maharashtra Value Added Tax (MVAT) Act, 2002.(Tax rate of liquor)- Value Added Tax (VAT) on the sale of liquor as prescribed in Schedule-B of Value Added Tax Act is increased from the existing 60 percent to 65 percent vide Notification No. VAT-1521/C.R. 30/Taxation-1 dated 24th March 2021. FINA...

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Section 41(5)- MVAT on Sale of liquor increased to 40 percent

Notification No. VAT-1521/C.R. 30 (A)/Taxation-1 24/03/2021

Value Added Tax (VAT) on the sale of liquor as prescribed in Section 41(5) of Value Added Tax Act is increased from the existing 35 percent to 40 percent vide MVAT notification No. No. VAT-1521 / C.R. 30 (A) / Taxation-1 dated 24th March 2021....

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PTEC And PTRC Registration in Maharashtra

PTEC stands for Professional Tax Enrolment Certificate and PTRC stands for Professional Tax Registration Certificate. Usually these Registration are required to conduct business in Maharashtra and in many other States. PTEC allows to pay professional tax of a business entity and also of the professional or owner of the business. In other ...

Read More

MVAT: Discontinuance of Issuing Identification Certificate To Units Under Package Scheme of Incentive

Trade Circular No. 07 T of 2021 19/03/2021

Through Government Resolutions dated 20/12/2018, the Government prescribed the modalities procedure for sanction and disbursement of Industrial Promotional Subsidy (IPS) to all Eligible Units i.e. Mega/Ultra —Mega Projects & units other than Mega/Ultra-Mega Projects....

Read More

Maharashtra budget 2021- Concession in Stamp Duty to Women

Concession in Stamp Duty by 1 percent over the prevailing rate exclusively to Women, provided the transfer of house property or registration of sale deed is in the name of women. Increasing State Excise Duty to Rs. 220 percent of manufacturing cost or Rs. 187 per proof litre whichever is high on branded country liquor only....

Read More

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