Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the ultimate-addons-for-gutenberg domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home3/a1636wpq/public_html/taxclick.org/wp-includes/functions.php on line 6114

Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the rocket domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home3/a1636wpq/public_html/taxclick.org/wp-includes/functions.php on line 6114

Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the wordpress-seo domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home3/a1636wpq/public_html/taxclick.org/wp-includes/functions.php on line 6114
MVAT Archives - All About Finance

MVAT rate on petrol is increased from 1st June 2016

FINANCE DEPARTMENT Madam Cama Marg, Hutatma Rajguru Chowk, Mantralaya, Mumbai 400032, Dated the 31.05.2016. NOTIFICATION Maharashtra Value Added Tax Act, 2002_ No. VAT 1516/ CR 77/Taxa.tion-1.—In exercise of the powers conferred by sub-section (1) of section 9 of the Maharashtra Value Added Tax Act, 2002 (Mah. IX of 2005), the Government of Maharashtra, hereby with … Read more

List of cancer drugs which are exempt from MVAT

FINANCE DEPARTMENT Madam Cama Road, Hutatma Rajguru Chowk, Mantralaya, Mumbai 400 032, dated the 12th August 2015   NOTIFICATION   MAHARASHTRA VALUE ADDED TAX ACT, 2002. No. VAT. 1515/C.R. 74/Taxation-1.-In. exercise of the powers conferred by entry 12A of Schedule ‘A’ appended to the Maharashtra Value Added Tax Act, 2002 (Mah. IX of 2005), the Government … Read more

VAT can be levied on transfer of right to use goods of intangible nature even if it is transfered to multiple users

8th floor, Vikrikar Bhavan, Mazgaon, Mumbai-400010 TRADE CIRCULAR (U/s.10 (10)of the MVAT Act, 2002) To, No.VAT/2015-16/0SD-VP/B-                                                                  Mumbai, dt. 13.07.2015 Trade Circular No. 11Tof 2015 Sub: Bombay High Court judgment in the case of Tata Sons Ltd, Writ Petition No.2818 of 2012 decided on 20.01.2015. Recently the Bombay High Court in the case of Tata Sons … Read more

Contents of the Tax Invoice under MVAT Act

The provisions relating to the sale bill are contained in Section 86 of MVAT Act, read with Rule 77. The dealer who is sold the goods of amount of Rs.50 and above is required to issue the tax invoice to the customer. The registered dealer may issue to the purchaser a ‘Tax Invoice’ to its customer containing following details:- 1. … Read more

Last date for electronic uploading of form e-704, for the financial year 2013-2014, is 15th January, 2015 and the last date for Physical Submission of Audit Report is 27th January, 2015

    Office of the Commissioner of Sales Tax, 8th Floor, Vikrikar Bhavan, Mazgaon, Mumbai – 400 010. TRADE CIRCULAR To —— No. 704 COI /20/4,– 15/                             Mumbai, dt. Trade Circular No. 21 T 2014 2 0/ 1 2 / 2014   Subject: Physical Submission of Audit Report in Form 704 for the financial year … Read more

Reduction in set-off under MVAT

The set-off available under any rule  shall be reduced and shall accordingly be disallowed in part or full in the event of any of the contingencies specified below and to the extent specified. (1)  If the claimant dealer has used any taxable goods as fuel, then an amount equal to    three per cent (before 01/04/2007 it … Read more

When set-off is non-admissible under MVAT ?

In following cases set-off is non-admissible as per rule 54 of The Maharashtra Value Added Tax, Rule 2005. (b)         “purchases of the High Speed Diesel Oil, Aviation Turbine Fuel(Duty paid),Aviation Turbine Fuel(Bonded),Aviation Gasoline(Duty paid),Aviation Gasonline (Bonded) and Petrol unless such motor spirits “are resold or sold in the course of inter-State trade or commerce or … Read more

Amendments in Various Acts administrated by Maharashtra sales tax department due to budget proposal for the year 2014-15

Amendments in Various Acts administered by Maharashtra sales tax department due to budget proposal for the year 2014-15 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 … Read more

Details of new composition scheme under MVAT for retailers and analysis whether to opt composition or not?

What is new composition scheme for MVAT dealer and its applicability? Deputy Chief Minister of the Maharashtra state announced the new composition scheme for retailers in his budget speech. The sales tax department comes with the trade circular No. VAT/AMD/2014/8/ADM-8 dated 20/09/2014 regarding the new retailer’s composition scheme.  The old composition scheme is expired with effect from 30th September … Read more

All about H Form for exporter

What is H form?  H form is the certificate issued by Sales tax/ VAT department as proof of export. Who can apply H form? Only register dealer who exports the goods outside Indian can get H form. What is use of H form? State sales tax is applicable when goods sold in the state. Central … Read more