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Goods and Services Tax : HIGHLIGHTS OF THE MAHARASHTRA STATE BUDGET SPEECH DATED 9TH MARCH, 2023 BY HONOURABLE DEPUTY CHIEF MINISTER (FINANCE) SHRI DEVENDR...
Goods and Services Tax : office of the Jt. Commissioner of State Tax. (HQ-1) F-Wing, 7th floor, New bldg, GST Bhavan, Mazgaon, Mumbai-400010. Tel No. 022 2...
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Goods and Services Tax : Discover the latest Maharashtra VAT Act amendment providing relief for late filers. Learn about the changes, due dates, and late f...
Goods and Services Tax : Learn about the latest notification from the Maharashtra Finance Department granting late fee waivers for Profession Tax Payers. U...
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The Union Cabinet today approved a Mission Mode Project for computerization of Commercial Taxes administrations of State Governments. This project, with an overall cost of Rs.1133 crore will help States develop and upgrade the IT systems in their commercial taxes administrations.
So far, VAT at the state or Cenvat at the central level, along with services tax, have been major steps in tax reforms. Before the present tax regime, there was the sales tax regime, where there was a cascading effect on tax. VAT has removed this burden, but it had deficiencies. The Cenvat load remains. There were several state taxes which were not subsumed in any one tax. The inter-state sales tax or CST was not fully relieved.
The Rajasthan government has announced VAT exemption on imported sugar in the state till June 30, in a bid to control the spiraling sweetener prices.“The decision to exempt four per cent VAT was taken by Chief Minister Ashok Gehlot following which sugar price will decrease by Rs 1.6 to 1.8,” an official said.
Representations from various Trades and Associations have been received with a request to extend the due date for submission of Audit Report in Form-704 for the year 2008-09. The Finance Department, Government of Maharashtra has examined and considered aforesaid representations. Accordingly, it has been decided to extend the due date for submission of the Audit Report in Form-704 to 31st March 2010.
As per Section 61 of MVAT Act, 2002 it is mandatory for all eligible dealers to get their books of accounts audited. As per trade circular No. 27 T of 2009 Dated 01.10.2009, any dealer who files Audit Report in Form 704 on or after 1″ Oct.2009 for any period shall file the same electronically in the new Form-704.
We had issued the above referred Trade Circular on 23.08.07 to formulate a standard procedure for processing of the refund applications. The circular contained certain provisions in Para 9(i) to facilitate issuance of refund amount against a BG worth part of the amount claimed as refund. The said provisions of para 9(i) stand superceded by the following provisions from 01/01/2010
The sub-rule (1) provides the different forms of returns to be filed by various categories of dealers. Earlier, the dealers. used to submit these forms of return-cum-chalan physically either to the Bank alongwith payment of tax, interest etc., if any or to the Sales Tax Department where tax liability was NIL. These forms of the return were return-cum-chalan.
You are aware that rate of tax on timber was reduced to 4% in the Budget Speech of Hon’ble Finance Minister, Maharashtra for the year 2008-09. This reduction in rate has been made with retrospective effect from 1st April 2009. The Gazette Notification for the amendment was published on 1st July 2009.
The commercial taxes department has conducted 298 raids from April to November this year. These statistics were placed before the House by chief minister Digambar Kamat, who holds the finance portfolio, during Question Hour on Thursday. The additional tax collected from these raids are: Value Added Tax (VAT) from hotels -Rs 27.16 lakh; VAT from others-Rs 141.33 lakh; luxury tax from hotels-Rs 51.31 lakh, and entertainment tax from casinos – Rs 2.83 crore.
For the first time the state government has candidly admitted that there is corruption at commercial tax department VAT checkposts. Industries minister Saurabh Dalal in an interaction with Gujarat Sales Tax Bar Association (GSTBA) has appealed to traders to come forward to lodge complaints against errant officers.
