Recent Amendments / Changes in MVAT 2013
PrintListen to this Article
| Recent MVAT Amendments/Changes 2013 | |
| The Schedules A,B,C,D appended to Maharashtra Value Added Tax Act, 2002 are amended with effect from 01-04-2013. Further , certain notifications are also amended. These amendments are briefly discussed below | |
| Amendments to Schedule A | |
| 1 | Braille Watches w-e-f 01.04.2013 are now covered by Schedule Entry A-2 by way of notification. |
| 2 | Commodity Rice Bran covered under schedule Entry C-49 is now deleted and now it will be covered under 'Husk and Bran of Cereals and Pulses' and thus will b tax free under Schedule Entry A-4 (c). |
| 3 | Entry 9A covers Paddy, rice, wheat and pulses , flours of aforesaid goods which also includes atta, Maida, rava and suji and mixed flours of cereals and pulses. The schedule entry on this goods is extended to 31.03.2014 which was up to 31.03.2013. |
| 4 | Hand Pumps' (used for pumping water) which were earlier covered by Entry C-42 and taxable at 5 % are now covered by schedule entry A-27A thus Tax Free. However due to deletion of Entry C-42 , the Parts and fittings will now attract tax at Respective Rates (i.e. 12.5 % or 5%) depending upon the fact of respective schedule entry. |
| 5 | Entry A-36 covering Judicial Stamp Papers, Court Fee Stamp, postal item like envelopes, post cards etc. sold by Government Treasuries. This entry now will also include Vendors authorized by Government for sale of these goods. Further this entry will now also include Postal Stamp, Postal Envelope, postal stationery, and Philatelic material such as Pigeongram, Rocketgram and First day cover. |
| 6 | Entry 45 A of Schedule A covering unmanufactured Tobacco (other than unmanufactured tobacco when sold in packaging under the brand name) is deleted , and now will be covered by Schedule entry E-1 thus taxable at 12.5 % |
| 7 | The goods Covering under Schedule Entry A-51 that is Papad, Gur, Chilies ,Turmeric and Tamarind whole or powdered , Solapuri Chaddars , Towels and Wet dates etc. will continue to be under this head till 31.03.2014. |
| 8 | Entry A-59 covering Raisins and Currents is extended till 31.03.2014. |
| 9 | New Entry A-62 is added w-e-f 01.04.2013 covering Water meters sold to local bodies. This will not cover water meter sold to other than Local bodies for which rate of tax will be 12.5%. |
| Amendments to Schedule B | |
| 1 | Commodities under Schedule entry B-1 , which are used as Industrial goods and Industrial tools will now be covered by Schedule Entry C-53A thus Taxable at 5%. |
| 2 | Rate of Tax under Schedule B is enhanced from 1 % to 1.1 % for the period 01.04.2013 to 31.03.2014. |
| 3 | New separate entry B-3A is made for Diamonds which was earlier covered in B-3. |
| Amendments to Schedule C | |
| 1 | Paver blocks are now excluded from Schedule Entry C-3 which covers all types of Bricks, thus now it will be taxable at 12.5%. |
| 2 | Schedule Entry C-12 covers Beedi leaves, now biris covered under A-45A will be taxable at 12.5 % under Schedule E-1. |
| 3 | Schedule Entry C-29 which deals with drugs and medicines , is amended to exclude products capable of being used as cosmetics and Shampoos, thus which will be taxable at 12.5 %. |
| 4 | New entry C-31A is inserted to include Excavators covered under item No.8429 52 00 of Central Excise Tariff Act, 1985 and which are not liable for registration under Motor Vehicle Act, 1988. |
| 5 | Entry C-42 which deals with Hand Pump, Part and Fittings is deleted. Now hand Pump are Covered by A-27A , Part and Fittings are covered by respective schedule Entry and taxable at 5% or 12.5 %. |
| 6 | Entry C-49 covering Rice Bran is deleted , and now Rice Bran is covered by A-49(c ) , thus Tax Free. |
| 7 | New Entry C-53 A is added to cover Industrial goods and Industrial Tools made up of Precious metals or alloys, taxable at 5%. |
| 8 | Automated Implantable Cardiac Defibrillators (AICD) are now covered by notification under Entry C-107 (8) taxable at 5% . |
| 9 | Entry 107 ,clause (g) of sub-Entry (11) which deals with the Powder , tablets, cubes, crystals and other solids or liquids from which non-alcoholic beverages and soups are prepared is now deleted . These items along with coffee powder will now be taxable at 12.5 % |
| 10 | Entry C-108 covering Tea in leaf or Powder Form , is extended till 31.03.2014. |
| Amendments to Schedule D | |
| 1 | New Entry D-14 is carved out to cover Cigar and Cigarettes which will be taxable at 25 %. |
| 2 | Schedule Entry D-12 will include tobacco, manufactured tobacco and products thereof taxable at 20 % but will exclude Bidi, Unmanufactured tobacco whether sold under brand name or not and cigar and Cigarettes. |
| Other Amendments- | |
| 1 | Second Hand Tractors will also become eligible for composition with regards to second hand motor vehicle. |
| 2 | Industrial Fabrics and Varieties of Textile and Textile articles are now covered by C-101 and taxable at 5%. |
| Author- CA Pawan Jajoo (Amravati) | |
| Email- pawanjajoo@gmail.com | |
| Source | www.mahavat.gov.in |
| Note- | Utmost care has been taken in compiling this article. However author will not be responsible for any mistakes. Bare MVAT Act is to be read with this article, |
Category : VAT | Comments : 0 | Hits : 608
Introduction Regular audits are essential to ensure compliance and transparency in taxation. The new VAT Audit Form — 704 has brought out many major changes that are important for companies operating under the Sales Tax Act. The Maharashtra Value Added Tax Rules introduced this complete form with the objective of reducing the audit procedure and improving the effectiveness of tax administration. In this article, we’ll go into detail about the new VAT Audit Form 704, includin...
Sri Lakshmi Textiles Vs. the Commissioner of Commercial Taxes and Others [2016 (1) TMI 329 - MADRAS HIGH COURT] Facts: Sri Lakshmi Textiles(“the Petitioner”) is a partnership firm engaged in the business of inner garments and textiles registered under Tamil Nadu Value Added Tax Act, 2006 (“TN Vat Act”). The Petitioner was regularly filing the VAT return and paying the VAT liability after adjusting the corresponding input tax credit. For the Assessment Year 2013-2014, th...
Now days for Trading goods online via. Flipkart , Amazon , Snapdeal , Shopclues etc. every dealer is required by such e commerce sites to obtain DVAT registration certificate so as to enroll themselves as dealer on such e commerce sites. In that case, If a person is willing to start new business then he shall apply for voluntary registration otherwise Mandatory registration. Let me tell you the difference between Mandatory & Voluntary registration Mandatory ...
A lot of queries comes to mind when one thinks about taking registration under Gujarat VAT and CST Laws. Some of the queries and their answers are published as follows for the benefits of the readers: What is VAT / CST / TIN / Sales Tax ? Answer: VAT means Value Added Tax On Sales. CST means Central Sales Tax. TIN means Tax Identification Number. And Sales Tax is Tax on Sales. In a Summarized way, in any State Law, two types of registrations are available. Fir...
Supply to high seas vessel is liable to VAT if any territorial nexus exist in the State Raj Shipping Vs. State of Maharashtra [2015 (62) taxmann.com 309 (Bombay)] In the instant case, Raj Shipping (“the Petitioner”) was engaged in "Bunker Supplies" which mainly consisted of supply of High Speed Diesel Oil (“HSD”) to various incoming and outgoing vessels within or beyond the port limits of Mumbai port. The Petitioner was not paying Sales tax on supply of HS...
Comments