MVAT

Form e-704 MVAT Audit Report for FY 2017-18: Queries & Solutions

Goods and Services Tax - In PART – 1 of Audit Report, Form Date and To Date are not entered as complete financial year, i.e. from data should be 01.04.2017 and To date should be 31.03.2018. Dealers who are migrated to GST wef 01.07.2017, has to download the latest template ( after clearing cache, cookies and history) and can enter the applicable VAT period ( vi...

Read More

Co-relation between MVAT audit report and GST !

Goods and Services Tax - Arjuna, In the financial year 2017-18, 3 months were of Vat while the remaining 9 months were of GST. Therefore, taxpayers would be required to get their books audited as per their Turnover under both the laws. Hence while finalizing financials taxpayers might face problems. So let us discuss on the same....

Read More

Issues in VAT Audit of April 2017 to June 2017 in Maharashtra

Goods and Services Tax - Krishna, for the year 2017-18, taxpayers have to comply with both VAT Audit and GST Audit. But which form is applicable for VAT audit? The due date for filing form 704 is 15th January, 2019....

Read More

New form of MVAT Audit report and GST Issues

Goods and Services Tax - New format of Audit report for MVAT Audit has been released. This will be audit for the 3 month i.e April 2017 to June 2017 and government has made many changes in the report. Everywhere there is workload of GST but still VAT audit for these 3 months has to be carried out. ...

Read More

Highlights of Maharashtra Budget 2018; PT amnesty & MVAT Changes

Goods and Services Tax - Amendments to Profession Tax Act- i. Responsibility to collect tax at source (TCS) on Organizations, Corporations, etc. ii. Attractive Scheme to be declared for One Time Payment of Tax (OTPT) for professionals. iii. Streamlining provisions for effective recovery of tax....

Read More

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....

Read More

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...

Read More

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...

Read More

Two websites for VAT / GST Dealers in Maharashtra wef 26.12.2017

Goods and Services Tax - MGSTD Portals Starting from 26/12/2017 MGSTD will have two portals, www.mahavat.gov.in for old e-Services and www.mahagst.gov.in for all New Automation / SAP e-Services. www.mahavat.gov.in 1. Prior period return filing, prior period e-CST declarations and audit VAT Audit Report (e-704) for F.Y.2016-17 and earlier periods along with CDA sh...

Read More

MVAT: Ease of doing Business Initiative by Dept. of Sales Tax

Goods and Services Tax - Registration process and payment of Fee for registration is end to end online for all the Acts administered by the Department (MVAT Act, CST Act, Entry Tax Act, Profession Tax Act, Luxury Tax Act and Sugarcane Purchase Tax Act....

Read More

Classification of Hybrid Amplifier for MVAT: Under Accessory of Cable T.V. or general electronic item?

The Commissioner of Sales Tax Vs M/s Khush Bhakht Electronic Engineers Pvt.Ltd. (Bombay High Court) - The Commissioner of Sales Tax Vs M/s Khush Bhakht Electronic Engineers Pvt.Ltd. (Bombay High Court) Whether on the facts and circumstances of the case and on a true and correct interpretation of schedule entries C-II-124 and C-II-126, appended to the Bombay Sales Tax Act 1959, the Tribunal was legal...

Read More

3% Tax Rate benefit under MVAT Act cannot be given prior to 14.10.2017

Deepak Fertilisers and Petrochemicals Corporation Ltd. Vs The State of Maharashtra (Bombay High Court) - Deepak Fertilisers and Petrochemicals Corporation Ltd. Vs The State of Maharashtra (Bombay High Court) The only question that we have to consider is whether this concessional rate of duty could be availed of by the petitioner from 24.08.2017 to 13.10.2017. The intervening period where the taxable pe...

Read More

MVAT: No Input Tax Credit on Goods not Resold within 6 Month period

Axis Mutual Fund Vs The State of Maharashtra (Bombay High Court) - During the course of assessment, the assessing authority has alleged that the petitioner is not eligible to claim any input tax credit as the goods purchased by the petitioner on which input tax credit is claimed are not resold within a period of six months from the date of purchase. Such allegation...

Read More

Port Trust is a dealer liable to sales tax under Bombay Sales Tax Act 1954: HC

The Board of Trustees of the Port of Bombay Vs. The State of Maharashtra (Bombay High Court) - judgment of the Supreme Court in Cochin Port Trust holds the field. We are accordingly of the view that the Port Trust falls within the definition of dealer and is liable to sales tax under the Bombay Sales Tax Act 1954....

Read More

Bombay HC on inclusion of insurance and carrying charges in ‘Sale Price’

The Commissioner of Sales Tax Vs. M/s. Ravi Trading Company (Bombay High Court) - A division bench of the Bombay High Court, on Monday, held that insurance charges and carrying charges do not form part of the sale price under section 2(29) of the Bombay Sales Tax Act, 1959. A bench comprising Justices R.K Deshpande and Manish Pitale was hearing a departmental appeal against the o...

Read More

Reg. Exemption from payment of late fee for delayed profession tax payment in Maharashtra

Trade Circular No. 6T of 2019 - (14/01/2019) - If it is found that the employer has not fulfilled the conditions or has submitted false information to avail the benefit of exemption then, his exemption of late fee shall be revoked and action will be taken against him as per the provisions of law....

Read More

Revision in Criteria for Withdrawal of pending MVAT Assessment Proceeding

No. VAT-1518/CR 23/Taxation-1 - (11/01/2019) - Amendment to MVAT Notification-Criteria for Withdrawal of pending Assessment Proceeding,-Criteria as decided by Commissioner FINANCE DEPARTMENT Madam Cama Marg, Hutatma Rajguru Chowk Mantralaya, Mumbai 400 032, dated the 11th January 2019 NOTIFICATION MAHARASHTRA VALUE ADDED TAX ACT, 2002. No. VAT-1...

Read More

Change in due date of Maharashtra VAT Audit report in Form 704

Notification No. VAT. 1519/C.R.02/Taxation-1 - (09/01/2019) - Maharashtra Government notifies Change in due date of Maharashtra VAT Audit report in Form 704 to on or before 28th February of the immediate succeeding Financial Year....

Read More

Amendment to Notification u/s 41(1) of MVAT Act [Refund to United Nations Organisations]

Notification No. VAT-1518/CR.119/Taxation-1 - (27/12/2018) - In the Schedule appended to the said notification, in column (3), under the heading, (I) United Nations organizations, In clause (ii ), for the words, within one month of the end of every quarter the words, after the end of every quarter shall be substituted....

Read More

Clarification on Intra-State E-way Bill limit of Rs. One lac in Maharashtra

Corrigendum to Trade Circular No. 36T of 2018 - (19/12/2018) - It is hereby clarified that, there is no change in the monetary limit for the intra-State movement of the goods as provided under the Notification cited at Ref. (1) above. In other words, with effect from 1st July 2018, no e-way bill is required to be generated for the intra-State movement in the St...

Read More

Recent Posts in "MVAT"

Reg. Exemption from payment of late fee for delayed profession tax payment in Maharashtra

Trade Circular No. 6T of 2019 (14/01/2019)

If it is found that the employer has not fulfilled the conditions or has submitted false information to avail the benefit of exemption then, his exemption of late fee shall be revoked and action will be taken against him as per the provisions of law....

Read More

Revision in Criteria for Withdrawal of pending MVAT Assessment Proceeding

No. VAT-1518/CR 23/Taxation-1 (11/01/2019)

Amendment to MVAT Notification-Criteria for Withdrawal of pending Assessment Proceeding,-Criteria as decided by Commissioner FINANCE DEPARTMENT Madam Cama Marg, Hutatma Rajguru Chowk Mantralaya, Mumbai 400 032, dated the 11th January 2019 NOTIFICATION MAHARASHTRA VALUE ADDED TAX ACT, 2002. No. VAT-1518/CR 23/Taxation-1.— In exercise of ...

Read More

Form e-704 MVAT Audit Report for FY 2017-18: Queries & Solutions

In PART – 1 of Audit Report, Form Date and To Date are not entered as complete financial year, i.e. from data should be 01.04.2017 and To date should be 31.03.2018. Dealers who are migrated to GST wef 01.07.2017, has to download the latest template ( after clearing cache, cookies and history) and can enter the applicable VAT period ( vi...

Read More

Change in due date of Maharashtra VAT Audit report in Form 704

Notification No. VAT. 1519/C.R.02/Taxation-1 (09/01/2019)

Maharashtra Government notifies Change in due date of Maharashtra VAT Audit report in Form 704 to on or before 28th February of the immediate succeeding Financial Year....

Read More

Amendment to Notification u/s 41(1) of MVAT Act [Refund to United Nations Organisations]

Notification No. VAT-1518/CR.119/Taxation-1 (27/12/2018)

In the Schedule appended to the said notification, in column (3), under the heading, (I) United Nations organizations, In clause (ii ), for the words, within one month of the end of every quarter the words, after the end of every quarter shall be substituted....

Read More

Clarification on Intra-State E-way Bill limit of Rs. One lac in Maharashtra

Corrigendum to Trade Circular No. 36T of 2018 (19/12/2018)

It is hereby clarified that, there is no change in the monetary limit for the intra-State movement of the goods as provided under the Notification cited at Ref. (1) above. In other words, with effect from 1st July 2018, no e-way bill is required to be generated for the intra-State movement in the State of Maharashtra...

Read More

Co-relation between MVAT audit report and GST !

Arjuna, In the financial year 2017-18, 3 months were of Vat while the remaining 9 months were of GST. Therefore, taxpayers would be required to get their books audited as per their Turnover under both the laws. Hence while finalizing financials taxpayers might face problems. So let us discuss on the same....

Read More

Maharashtra Value Added Tax (Second Amendment) Act, 2018

Maharashtra Act No. LXIX of 2018 (14/12/2018)

1. This Act may be called the Maharashtra Value Added Tax (Second Amendment) Act, 2018. 2. In section 16 of the Maharashtra Value Added Tax Act, 2002,—...

Read More

Maharashtra Value Added Tax (Amendment) Act, 2018

Maharashtra Act No. LXVIII of 2018 (14/12/2018)

1. (1) This Act may be called the Maharashtra Value Added Tax (Amendment) Act, 2018. (2) It shall be deemed to have come into force on the 24th October 2018....

Read More

Maharashtra Goods and Services Tax (Amendment) Act, 2018

Maharashtra Act No. LXVII of 2018 (14/12/2018)

(1) This Act may be called the Maharashtra Goods and Services Tax (Amendment) Act, 2018. (2) Section 1 shall come into force at once. (3) Save as otherwise provided, remaining sections shall come into force on such date as the Government may, by notification in the Official Gazette, appoint and different dates may be appointed for differe...

Read More

Browse All Categories

CA, CS, CMA (4,008)
Company Law (4,287)
Custom Duty (7,177)
DGFT (3,843)
Excise Duty (4,175)
Fema / RBI (3,581)
Finance (3,801)
Income Tax (28,782)
SEBI (3,033)
Service Tax (3,422)

Search Posts by Date

February 2019
M T W T F S S
« Jan    
 123
45678910
11121314151617
18192021222324
25262728