VAT in Maharashtra
VAT in Maharashtra is explained in a nutshell below.
The Act extends to the whole of Maharashtra. VAT is governed by the Maharashtra Value Added Tax Act, 2002. VAT is applicable on sale of goods and products in the state of Maharashtra.
It is mandatory for the following class of dealers to be registered under the said Act:
In addition to the above, it is pertinent to note that voluntary and suo-moto registration is allowed. Also a dealer who is engaged in sale of exempted goods or a dealer whose turnover is below the prescribed limit is exempt from registration.
In addition to the above, any person intending to commence business in Maharashtra can get Maharashtra VAT Registration. The entire process takes about 15 to 20 days as it does involve physical verification of the premises as well.
On obtaining the registration certificate, the same shall be displayed in a prominent location at the main place of business. Also certified copies shall be displayed at the additional business places.
Maharashtra VAT Rate
VAT rates are based on commodities that fall under the respective schedules A to E. The following is the Maharashtra VAT rate for each category;
Maharashtra VAT Return Filing
Maharashtra VAT Payments
In Maharashtra, dealers are required to pay or deposit VAT on or before the due date of filing the return, in event if returns ought to be filed on a monthly basis, then due date falls on the 21st of the following month.
In case if the frequency of filing returns is quarterly, then 21st of the subsequent month from the end of the quarter, for instance for the April – June quarter the due date shall be 21st July.
The due date for payment of VAT for half yearly returns would be the 30th of the subsequent month from the end of the half year. For instance for the half year April to September the due date would be 30th October.
1. As per Trade Circular 16T of 2008 issued by Hon’ble CST, the concession of additional 10 days are given for uploading e-return. However, this concession is available subject to the payment of tax as per return is made on or before prescribed due date.
2. Therefore, the dealer fulfilling this condition may upload e-return within additional 10 days.