MVAT 2002

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THE MAHARASHTRA VALUE ADDED SALES TAX, 2002 Page 1 of 35 The Bill for the introduction of VAT is pending in the Legislature. € € € € € € A Draft Scheme of Rules for the proposed Act is notified for Public Scrutiny http://finance.mah.nic.in/vat/vatbill.htm 5/3/2010 THE MAHARASHTRA VALUE ADDED SALES TAX, 2002 Page 2 of 35 Table of Contents 1. SHORT TITLE:........................................................................................................................................
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  The Bill for the introduction of VAT is pending in theLegislature.                   A Draft Scheme of Rules for the proposed Act is notifiedfor Public Scrutiny   Page 1 of 35THE MAHARASHTRA VALUE ADDED SALES TAX, 20025/3/2010http://finance.mah.nic.in/vat/vatbill.htm  Table of Contents   1. SHORT TITLE:................................................................................................................................................... 1  2. DEFINITIONS:................................................................................................................................................... 1 3. GOODS RETURNED AND DEPOSITS REFUNDED............................................................................. 4  4. APPLICATION FOR THE PURPOSES OF SUB-SECTION (8) OF SECTION 10......................... 4 5. SUBORDINATION OF OFFICERS............................................................................................................. 5 6. QUALIFICATIONS OF MEMBERS OF TRIBUNAL AND TERM OF OFFICE.............................. 5 7. THE APPLICATION FOR THE PURPOSES OF SUB-SECTION (1) OF SECTION 12............... 7  8. APPLICATION FOR REGISTRATION OF DEALERS LIABLE TO TAX UNDER THE ACT:... 7  9. GRANT OF CERTIFICATE OF REGISTRATION.................................................................................... 9 10. EXHIBITION OF CERTIFICATE OF REGISTRATION.................................................................... 10 11. CANCELLATION OF CERTIFICATE OF REGISTRATION............................................................ 11 12. ADDITIONAL COPIES OF CERTIFICATE OF REGISTRATION................................................. 12 13 . PRODUCTION OF CERTIFICATE OF REGISTRATION, ETC.................................................... 12 14. APPLICATION FOR THE PURPOSES OF SUB-SECTION (7) OF SECTION 16.................... 12 15. INFORMATION UNDER SECTION 18 AND CHANGES IN FORMS OF CERTIFICATE OF REGISTRATION. 12 16. DECLARATION UNDER SECTION 19................................................................................................. 13 17. SUBMISSION OF RETURNS.................................................................................................................... 13 18. SPECIAL PROVISION FOR FIRST AND LAST RETURN IN CERTAIN CASES AND FOR DEALERS UNDER THE PACKAGESCHEME OF INCENTIVES............................................................................................ 1519. DEFECT MEMO............................................................................................................................................ 16  20. CONSOLIDATED RETURNS................................................................................................................... 17   21. CORRECT AND COMPLETE RETURN................................................................................................ 17   22. INTIMATION................................................................................................................................................ 18  23. NOTICE FOR AUDIT.................................................................................................................................. 18  24. RESULT OF AUDIT..................................................................................................................................... 18  25. ASSESSMENT OF TAX............................................................................................................................... 18  26. NOTICE UNDER SUB-SECTIONS (5) OF SECTION 23.................................................................. 18  27. APPLICATION FOR DIRECTIONS....................................................................................................... 18  28. FORM OF ORDER OF ASSESSMENT................................................................................................... 18  29. SUPPLY OF COPY OF ORDER OF ASSESSMENT........................................................................... 19 30. ASSESSMENT CASE RECORD................................................................................................................ 19 31. FORM OF NOTICE UNDER SECTION 24........................................................................................... 19 32. FORM OF NOTICE UNDER SECTION 25........................................................................................... 19 33. SUBMISSION OF APPEALS.................................................................................................................... 19 34. THE APPLICATION FOR THE PURPOSE OF SUB-SECTION (7) OF SECTION 26 SHALL BE IN FORM ____ 20 35. APPLICATION FOR STAY....................................................................................................................... 20 36. SUMMARY REJECTION............................................................................................................................ 21 37. HEARING...................................................................................................................................................... 21 38. SUPPLY OF COPY OF ORDER TO THE APPELLANT AND TO THE OFFICER CONCERNED. 22 39. AWARD OF COSTS BY TRIBUNAL....................................................................................................... 22  40. TAX DEDUCTION AT SOURCE............................................................................................................. 23  41. TIME FOR PAYMENT................................................................................................................................ 25  42. METHOD OF PAYMENT........................................................................................................................... 25  43. NOTICE FOR PAYMENT OF TAX NOT PAID ACCORDING TO RETURN............................ 26  44. THE APPLICATION FOR THE PURPOSE OF SUB-SECTION (11) OF SECTION 29 WILL BE IN FORM ____. 26  45. NOTICE UNDER SECTION 32(6)........................................................................................................... 26  46. THE APPLICATION FOR THE PURPOSE OF SUB-CLAUSE (A) OF SUB-SECTION (9) OF SECTION 32. 26  47. SPECIAL MODE OF RECOVERY........................................................................................................... 26  48. REMISSION OF INTEREST...................................................................................................................... 27   Page 2 of 35THE MAHARASHTRA VALUE ADDED SALES TAX, 20025/3/2010http://finance.mah.nic.in/vat/vatbill.htm   49. APPLICATION FOR THE PURPOSE OF SUB-SECTION (5) OF SECTION 35....................... 28 50. CERTIFICATES & DECLARATIONS UNDER SECTION 45.......................................................... 28 51. APPLICATION UNDER SECTION 51.................................................................................................. 28 52. CLAIM AND GRANT OF SET-OFF IN RESPECT OF PERIODS COMMENCING ON OR AFTER THE APPOINTEDDAY....................................................................................................................................................................... 2853. CLAIM AND GRANT OF SET-OFF IN RESPECT OF PURCHASES HELD IN STOCK ON THE APPOINTEDDAY...................................................................................................................................................................... 2954. REDUCTION IN SET-OFF........................................................................................................................ 30 55. NON-ADMISSIBILITY OF SET-OFF..................................................................................................... 31 56. DRAWBACK, SET-OFF OR REFUND TO A SUCCESSOR.............................................................. 32 57. CONDITION FOR GRANT OF SET-OFF OR REFUND & ADJUSTMENT OF DRAW-BACK, SET-OFF IN CERTAIN CIRCUMSTANCES_............................................................................................................................... 3358. REIMBURSEMENT IN RESPECT OF DECLARED GOODS PURCHASED ON OR AFTER THE APPOINTEDDAY....................................................................................................................................................................... 3559. REDUCTION OF SALE PRICE FOR LEVY OF TAX......................................................................... 35 60. DETERMINATION OF SALE PRICE IN RESPECT OF SALE BY TRANSFER OF PROPERTY IN GOODS INVOLVED IN THE EXECUTION OF WORKS CONTRACT................................................................................. 3661. DETERMINATION OF TAXABLE TURNOVER OF SALES OF RESIDENTIAL HOTELS CHARGING A COMPOSITE SUM  FOR LODGING AND BOARDING.—................................................................................... 37 62. ORDER SANCTIONING REFUND......................................................................................................... 38 63. REFUND PAYMENT ORDER................................................................................................................... 38 64. REFUND ADJUSTMENT ORDER........................................................................................................... 38 65. CANCELLATION OF REFUND ADJUSTMENT ORDER................................................................ 39 66. PERIOD OF BANK GUARANTEE.......................................................................................................... 39 67. ORDER SANCTIONING INTEREST ON DELAYED REFUNDS................................................... 39 68. INTEREST PAYMENT ORDER................................................................................................................ 39 69. APPLICATION UNDER SECTION 55.................................................................................................. 39 70. APPLICATION FOR DETERMINATION OF DISPUTED QUESTIONS, SUMMARY REJECTION, ETC. 39 71. THE REPORT OF AUDIT UNDER SECTION 61............................................................................... 41 72. SUBMISSION OF AUDIT REPORT....................................................................................................... 41 73. NOTICE UNDER SECTION 63................................................................................................................ 41 74. PRESERVATION OF BOOKS OF ACCOUNTS, REGISTERS, ETC.............................................. 41 75. RETENTION OF BOOKS OF ACCOUNTS, REGISTERS AND DOCUMENTS SEIZED........ 41 76. FORM OF NOTICE FOR PRODUCTION OF DOCUMENTS, ETC............................................. 42 77. INTIMATION UNDER SECTION 65..................................................................................................... 42 78. NOTICE OF INSPECTION....................................................................................................................... 42 79. INTIMATION ACCEPTING COMPOSITION MONEY.................................................................. 42 80. FEES.................................................................................................................................................................. 42 81. QUALIFICATIONS OF A SALES TAX PRACTITIONER................................................................. 44 82. FORM OF AUTHORITY UNDER SECTION 83.................................................................................. 45 83. AUTHORITY OF AGENT TO CONTINUE........................................................................................... 45 82. PARTICULARS TO BE SPECIFIED IN A TAX INVOICE, BILL OR CASH MEMORANDUM. 45 83. CALCULATION OF CUMULATIVE QUANTUM OF BENEFITS:................................................ 46 84. REFUND OF TAX TO ELIGIBLE UNITS.............................................................................................. 47  85. REDUCTION IN THE MONETARY CEILING AVAILABLE TO AN ELIGIBLE UNIT..... 48 86. CONDITIONS FOR PERMISSION TO DEFER PAYMENT OF AMOUNT OF TAXES DUE AS PER THE RETURN FOR ASPECIFIED PERIOD BEING INCENTIVES TO CERTAIN ELIGIBLE INDUSTRIAL UNITS:- 4887. APPRAISAL OF ANNUAL PRODUCTION CAPACITY.................................................................. 52 88. GRANT OF CERTIFICATE OF ENTITLEMENT................................................................................. 54 89. PROPORTIONATE INCENTIVES TO AN ELIGIBLE UNIT IN CERTAIN CONTINGENCIES: 55 90. CERTIFIED COPIES OF DOCUMENTS AND ORDERS................................................................. 56 91. ORDERS AND NOTICES........................................................................................................................... 56  Page 3 of 35THE MAHARASHTRA VALUE ADDED SALES TAX, 20025/3/2010http://finance.mah.nic.in/vat/vatbill.htm  92. REDUCTION OF SALE PRICE FOR LEVY OF TAX......................................................................... 58 93. PENALTY........................................................................................................................................................ 59  Page 4 of 35THE MAHARASHTRA VALUE ADDED SALES TAX, 20025/3/2010http://finance.mah.nic.in/vat/vatbill.htm
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