{"id":1519,"date":"2014-09-21T00:00:00","date_gmt":"2014-09-20T18:30:00","guid":{"rendered":""},"modified":"2016-07-30T17:21:47","modified_gmt":"2016-07-30T11:51:47","slug":"composition-scheme-for-retailers-under-section-42-of-the-maharashtra-vallue-added-tax-act-2002-trade-circular-no-17t-of-2014","status":"publish","type":"post","link":"https:\/\/taxclick.org\/type\/mvat-cst\/composition-scheme-for-retailers-under-section-42-of-the-maharashtra-vallue-added-tax-act-2002-trade-circular-no-17t-of-2014\/","title":{"rendered":"Composition scheme for Retailers under section 42 of the Maharashtra Vallue Added Tax Act,2002- Trade Circular No. 17T of 2014"},"content":{"rendered":"

Background <\/strong>
\nSection 42 of the Maharashtra Value Added Tax Act, 2002 empowers the State Government to provide for Composition Schemes for different classes of dealers. Accordingly, a notification has been issued on 1st June 2005, which provides for Composition Schemes for restaurants, caterers, bakers, retailers and second hand motor vehicle dealers. Entry 3 of this notification provides for a Composition Scheme for retailers.\u00a0 Hon. Dy. Chief Minister, in his Budget Speech for the year 2014-15, had announced that Composition Scheme for retailers would be made simpler and more attractive. Accordingly, entry 3 in the notification dated 1st June 2005 has been substituted by notification No. VAT 1514\/CR-58\/Taxation-1 dated 21st August 2014. New entry 3 of this notification provides for a simpler and attractive Composition Scheme for retailers. The new retailer Composition Scheme shall be effective from lst October 2014. Consequentially, the old retailer Composition Scheme shall expire on 30th September 2014.<\/p>\n

2. Salient Features of the new Composition Scheme: Salient features of the new Composition Scheme are explained below:<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
 <\/td>\ni)<\/td>\nDealers under the old Composition Scheme:<\/strong> Dealers under the old Composition Scheme are eligible to opt for the new Composition Scheme; from 1st October 2014. To opt for the new Composition Scheme, uploading of Form 4A on the Department’s website up to 31st October 2014 is mandatory.\u00a0 If any old Composition Scheme dealer does not desire to opt for the new Composition Scheme from 1st October 2014, then he shall be required to discharge tax liability, as a non-composition Scheme dealer from 1st October 2014. He shall file six-monthly return for the period from 1st October 2014 to 31st March 2015.<\/td>\n<\/tr>\n
 <\/td>\nii)<\/td>\nEffective date for opting in:<\/strong> A dealer can opt for the new Composition Scheme with effect from 1st October 2014 or 1st April of any subsequent year.<\/td>\n<\/tr>\n
<\/td>\niii)<\/td>\nRate of composition amount.<\/strong>
\nTwo options have been provided for payment of composition amount. If a dealer opts to pay composition amount on the total turnover of sales, then he shall pay 1% on the entire turnover of sales, including tax-free goods.\u00a0 On the other hand, if he opts to pay composition amount only on the turnover of sales of taxable goods, then composition amount shall be payable at 1.5% on such turnover of sales. A dealer may exercise any of these options, however he can have only one option for a single return period. If he desires, he may change the option for the next return period.<\/td>\n<\/tr>\n
<\/td>\niv)<\/td>\nConditions to be eligible for the new Composition Scheme: <\/strong><\/td>\n<\/tr>\n
<\/td>\n <\/td>\na.<\/strong> Applicant dealer should be registered under the MVAT Act, 2002 during the period for which Composition Scheme is desired.<\/td>\n<\/tr>\n
<\/td>\n <\/td>\nb. <\/strong>Applicant dealer should be engaged in the business of reselling at retail. The term, “selling at retail” has been explained in section 42(1)(b) of the MVAT Act. A dealer shall be considered to be engaged in the business of selling at retail if 9\/10 th of his turnover of sales consists of sales made to persons, who are not de;Uers. If any question arises as to whether, any particular dealer is a retailer, then the question can be referred to the Joint Commissioner of Sales Tax{Registration). Mumbai or the Joint Commissioner of Sales ‘Tax (VAT Adm) in moffussil. The respective Joint Commissioner, after hearing the dealer, shall decide the question. The order of the Joint Commissioner shall be final.<\/td>\n<\/tr>\n
<\/td>\n <\/td>\nC.<\/strong> The claimant dealer should not be a manufacturer or an importer. It is clarified that if a dealer, who has
\nalready availed new Composition Scheme, imports any goods or manufactures any goods, he would cease to be eligible, even though he may not have availed benefit of composition for such imported or manufactured goods.<\/td>\n<\/tr>\n
<\/td>\n <\/td>\nd.<\/strong> The turnover of sales of goods shall not exceed rupees fifty lakh in the previous year, to which new Composition Scheme is\u00a0 desired.<\/td>\n<\/tr>\n
 <\/td>\n <\/td>\nFor instance, if a dealer desires to opt for new Composition Scheme from 1st April 2015, then his turnover of sales during the year 2014-15 should not have exceeded rupees fifty lakh. Turnover of purchases is not relevant to decide eligibility of a dealer for Composition Scheme. Secondly, if turnover of sales of a Composition Scheme dealer exceeds rupees fifty lakh in any year, then he can continue to avail benefits of Composition Scheme till the end of that year. However, he shall be ineligible for Composition Scheme in the subsequent year. For the purpose of computing turnover of sales and for availing benefit of Composition Scheme, turnover of sales of following goods shall not be considered:<\/td>\n<\/tr>\n
 <\/td>\n <\/td>\n\n

i. Goods, covered by entry 5 and entry10 of Schedule D of MVAT Act, i.e. High Speed Diesel Oil and any other kind of Motor Spirit,<\/p>\n

ii. furnishing fabrics, notified by the State Government under entry 101 of Schedule C of MVAT Act. The turnover of sales ot medicines would be eligible for the benefits of this Composition Scheme.<\/td>\n<\/tr>\n

 <\/td>\nv.<\/td>\nOther conditions to be complied by Composition Scheme dealer:<\/strong><\/td>\n<\/tr>\n
 <\/td>\n <\/td>\n\n

a. Purchases: Taxable goods shall be purchased from registered dealers only. This condition is not applicable for purchase of tax- free goods and purchase of packing materials used for packing of goods, resold by him.<\/p>\n

b. Tax Collection: Composition amount shall not be collected separately by the Composition Scheme dealer.
\nc. Tax Invoice: Tax invoice shall not be issued, in respect of sales for which Composition Scheme has been availed. However, as any other dealer, he is required to issue a cash memo, sales bill etc. if the value of the goods sold in a single transaction exceeds rupees fifty. [sec. 86(3) proviso ] ,
\nd. Set-off Composition Scheme dealer shall not be eligible to claim any set-off under MVAT Rules, 2005 in respect of purchase of goods, corresponding to sale of goods, for which composition has been availed. Set-off shall not be admissible on purchases of packing materials, used for packing of goods, for which Composition Scheme has been availed. It is clarified that Composition Scheme dealer can claim set-off on purchases of capital assets and the purchase of goods, for which benefit of composition has not been availed.<\/td>\n<\/tr>\n

<\/td>\nvi)<\/td>\nApplication
\nfor the Composition Scheme: <\/strong><\/td>\n<\/tr>\n
<\/td>\n <\/td>\na) <\/strong>Opting for the period
\nfrom 1 st October 2014 to 31 st March 2015: Old Composition Scheme dealer may
\nopt for the new Composition Scheme from 1st October 2014. Other dealers,
\nshall be eligible to opt from 1st October 2014, if they fulfill the
\nconditions of the new Composition Scheme and are liable to file six monthly
\nreturns during the year 2014-15. Thus, dealers, who are liable to file
\nmonthly or quarterly returns during the year 2014-15, shall not be eligible
\nto opt for new Composition Scheme.
\nA dealer, who is registered during the year 2014-15 and who had not opted for
\nthe old Composition Scheme would not be eligible to
\nopt for new Composition Scheme in 2014-15 because periodicity of returns, in
\nthis case, is quarterly .
\nAn eligible dealer (old Composition Scheme dealer as well as fresh applicant)
\ndesiring to opt for the new Composition Scheme would be required to upload an
\napplication in Form 4A on the Department’s websites on or before 31st October
\n2014.
\nb)<\/strong> Opting for the year 2015-16 and thereafter: A dealer desiring to
\nopt for new Composition Scheme shall upload an application in Form 4A on the
\nDepartment’s websites on or before 30th April of the respective year.
\nEligible dealer can avail the benefits of new
\nComposition Scheme from 1st April of the respective year.
\nc)<\/strong> Newly registered dealers: A newly registered dealer, who is
\neligible and desires to opt for new Composition Scheme, shall indicate his
\noption in Form 101, itself. Such newly registered dealer need not upload Form
\n4A on the Department’s website. Such dealer shall be eligible to claim
\nbenefit of new Composition Scheme from the date of effect of the registration
\ncertificate. Guidelines given in para (a) above may be referred by dealers
\nregistered during the year 2014- 15.
\nvii. Continuance in the Composition Scheme:<\/strong>
\nComposition Scheme dealer shall not be required to apply every year to
\ncontinue to avail Composition Scheme. A dealer who is permitted to opt for
\nComposition Scheme shall continue to avail., benefits till he opts out of the
\nscheme or violates any condition the scheme.<\/td>\n<\/tr>\n
<\/td>\n <\/td>\nviii)
\nOpting out or ceasing to be eligible for the Composition Scheme:<\/strong><\/td>\n<\/tr>\n
<\/td>\n <\/td>\n(a) Old Composition
\nScheme dealer would not automatically become new Composition Scheme dealer
\nfrom 1st October 2014 but would be required to upload an application in Form
\n4A on Department’s website on or before 31st October 2014. If he does not
\nupload Form 4A, then he shall not be eligible for the new Composition Scheme.<\/p>\n

(b) A dealer who desires to opt out of new Composition Scheme shall intimate
\nby uploading Form 4B on Department’s website in the beginning of the year on
\nor before 30th April. On such intimation, the dealer would cease to be a
\nComposition Scheme dealer from l5t,
\nday of April of the said year.
\n(c) In case of contravention of any condition of the notification, the dealer
\nwould cease to be a Composition Scheme dealer from the date of such
\ncontravention. In this situation, he would be required to discharge his tax
\nliability as any other non-Composition Scheme
\ndealer from the date of such contravention.<\/td>\n<\/tr>\n

<\/td>\nix.<\/td>\nSet-off
\non opting in or opting out of the Composition Scheme: <\/strong><\/td>\n<\/tr>\n
<\/td>\n <\/td>\n(a)
\nSet off on opting in:<\/strong>
\nAs seen above, a dealer opting for Composition Scheme is not eligible to
\nclaim set-off. Therefore, dealers, opting.for Composition Scheme, shall be
\nrequired to reverse the set-off, already claimed, on the purchase of goods
\nheld in stock on the day of opting for ,new Composition Scheme. Amount of
\nsuch set-off reversed should be paid alongwith first return of Composition
\nScheme.<\/p>\n

Illustration: A dealer opts for new Composition Scheme from 1st
\nApril 2015 and has a closing stock of rupees 10 lakh on which he had already
\nclaimed set-off of rupees 50 thousand. This dealer is required to file his
\nfirst return as a Composition Scheme dealer for the period from 1st April
\n2015 to 30th September 2015. He would be required to pay an amount of rupees
\n50 thousand in addition to the composition amount payable for the period 1 st
\nApril 2015 to 30th September 2015, while filing return for the said period.
\nThe reversal of such set-off may be shown in row (e) of Box 14 of the returns
\nin Form 231 or row (d) of Box 13 in Form 233, as the case may be.
\n(b) Set-off on opting out: As seen earlier, a dealer opting for Composition
\nScheme is not eligible to claim set-off. If a Composition Scheme dealer opts
\nout or ceases to be eligible for the new Composition Scheme, then such a
\ndealer would be eligible to claim set-off on the , closing stock, held on the
\nday of opting out or ceasing to be Composition Scheme dealer. Such set-off
\nmay be claimed in row (d) of Box 9 of return in Form 231 or row (d) of Box 13
\nof return in Form 233, as the case may be, Illuetration: A dealer intimates
\nhis desire to opt out of; new Composition Scheme from 1st April 2015, and has
\nclosing stock. This dealer may claim set-off on closing stock in his return
\nas a non-Composition Scheme dealer for the period from 1st April 2015. Of
\ncourse, set-off shall be admissible only if he had not claimed it earlier at
\nany time members of your association.<\/td>\n<\/tr>\n

<\/td>\n <\/td>\nx.
\nReturns:<\/strong> Composition Scheme
\ndealer shall file six-monthly returns. A dealer ceasing to be a Composition
\nScheme dealer due to contravention of conditions, at any time during the
\nyear) shall continue to file six- monthly returns till the end of that year.<\/td>\n<\/tr>\n
<\/td>\n <\/td>\n3. You are requested
\nto bring the contents of this circular to the notice of the members of your
\nassociation<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Background Section 42 of the Maharashtra Value Added Tax Act, 2002 empowers the State Government to provide for Composition Schemes for different classes of dealers. Accordingly, a notification has been issued on 1st June 2005, which provides for Composition Schemes for restaurants, caterers, bakers, retailers and second hand motor vehicle dealers. Entry 3 of this … Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","_mi_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[7],"tags":[97],"yoast_head":"\nComposition scheme for Retailers under section 42 of the Maharashtra Vallue Added Tax Act,2002- Trade Circular No. 17T of 2014 - All About Finance<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/taxclick.org\/type\/mvat-cst\/composition-scheme-for-retailers-under-section-42-of-the-maharashtra-vallue-added-tax-act-2002-trade-circular-no-17t-of-2014\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Composition scheme for Retailers under section 42 of the Maharashtra Vallue Added Tax Act,2002- Trade Circular No. 17T of 2014 - All About Finance\" \/>\n<meta property=\"og:description\" content=\"Background Section 42 of the Maharashtra Value Added Tax Act, 2002 empowers the State Government to provide for Composition Schemes for different classes of dealers. Accordingly, a notification has been issued on 1st June 2005, which provides for Composition Schemes for restaurants, caterers, bakers, retailers and second hand motor vehicle dealers. Entry 3 of this ... 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