Maharashtra Value Added Tax Act_Final

8/10/2019 Maharashtra Value Added Tax Act_Final

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Compliance

Number

Type Category Law

Time

Based

Indirect

Taxation

Maharashtra Value

Added Tax, 2002

Time

Based

Indirect

Taxation

Maharashtra Value

Added Tax, 2002

Maharashtra Value

Added Tax, 2002

Indirect

Taxation

Time

Based


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Time

Based

Indirect

Taxation

Maharashtra Value

Added Tax, 2002

Time

Based

Indirect

Taxation

Maharashtra Value

Added Tax, 2002

Time

Based

Indirect

Taxation

Maharashtra Value

Added Tax, 2002


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Compliancec

Section 20 and Rule 17 of Maharashtra Value

Added Tax, 2002

Filling of Return

Section 31 (5) and Rule 40 of Maharashtra Value

Added Tax, 2002

Payment of deduction of Tax and issuance of

certificates to deductee

Section 31 (1) and 40 of Maharashtra Value Added

Tax, 2002

Deduction of Tax


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Added Tax, 2002

Manner and interval of payment of tax.


Added Tax, 2002

Accounts to be audited

Rule 68 of Maharashtra Value Added Tax, 2002

Preservation of books of account and registers etc.


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Compliance Provision

Obtain the confirmation whether

(a) Tax liability during the previous year was 1 lakh or less and had no entitlement

for refund, or

Entitlement for refund during the previous year was 10 lakh or less

If yes then - It is required to filled a six-monthly return in Form 231 within 30 days

from the end of the period of six months to which the return relates.

(b) Tax liability during the previous year had exceeded rupees 10 lakhs or

entitlement for refund during the previous year had exceeded 1 crore.

If yes then - It is required to filled a monthly return in Form 231 within 21 days from

the end of the month to which the return relates.

(c) In other cases it is required to filled a quarterly return within 21 days from the

end of the quarter to which the return relates.

Obtain the confirmation from the respective department if any deduction has been

made U/S 31 (1).

If yes then - It is required to deposit the full amount of such tax due and deductible

within 21 days from the expiry of the month during which tax is so required to be

deducted in challan in Form 210 (electronically, in Challan MTR-6) into the

Government Treasury irrespective of the actual amount of tax deducted.

Also It is required to furnish a certificate in Form 402 in respect of the amount so

remitted immediately after the deduction is made, to the dealer in respect of

whom such deduction is made.

Further maintain for each year a separate account in Form 404 showing the

amount of tax deducted, certificate of tax deduction issued, and the particulars of

remittances made to the Government treasury and shall file a return in Form 5 in an

electronic form within three months of the end of the year to which the return

relates.

Obtain the confirmation from the respective department whether any notification

issued by the Commissioner by notification in the Official Gazette to deduct the tax

or such amount of tax as may be specified in the notification, payable on the

purchases other than the purchases to which section 8 (Certain sales and purchases

not to be liable to tax) applies, effected by them in the period or periods specified in

the said notification.

If yes then - It is required to deduct the tax as specified in prescribed notification.


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Ensure that taxes is paid within 21 days in case of monthly or quarterly returns, and

within 30 days in case of the six monthly returns from the end of the period to which

such return relates :

If revised return shows that a larger amount of tax than the tax already paid, is

payable, It is required to first pay into the Government treasury the extra amount of

tax.

Obtain the confirmation from the respective department whether are liable to pay

tax and

1) Turnover of sales or, as the case may be, of purchases exceeds Rs 60 Lakh in year,

or

2) a dealer or person who holds licence in,

(i) Form P.L.L. under the Maharashtra Distillation of Spirit and Manufacture of

Potable Liquor Rules, 1966, or

(ii) Form B-RL under the Maharashtra Manufacture of Beer and Wine Rules, 1966, or

(iii) Form E under the Special Permits and Licence Rules, 1952, or

(iv) Forms FL-I, FL-II, FL-III, FL-IV under the Bombay Foreign Liquor Rules, 1953, or(v) Forms CL-I, CL-II, CL-III, CL/FL/TOD-III under the Maharashtra Country Liquor

Rules, 1973, or

3) if he holds an Entitlement Certificate in respect of any Package Scheme of

Incentives, granted under this Act or under the Bombay Sales Tax Act, 1959.

If yes then - It is required to get accounts audited in respect of such year by an

Accountant (CA/ICWA) within 9 months and 15 days of the end of the year to which

the report relates and furnish within that period the complete report of such audit in

the Form 704 duly signed and verified by such accountant and setting forth such

particulars and certificates as may be prescribed.

Ensure that all books of account, registers and other documents relating to the

stocks, purchases, dispatches and deliveries of goods and payments made towards

sale or purchase of goods preserve for a period of not less than 8 years from the

expiry of the year to which they relate.

Further where any proceedings have been initiated, it is required to preserve the

said books of account, registers and other documents, beyond the said period till afinal order is passed in respect of the said proceedings.


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Effect of Non-Compliance Agency Keywords Division

Shall be punishable with fine

which may extend to Rs 5000/-

and when the offence is a

continuing one, with a dailyfine not exceeding Rs. 100/-

during the continuance of the

offence. (Rule 90 of this act)

Ministry of Finance and

Department & Revenue

Return Finance

Fails without sufficient cause -

Simple imprisonment for a term

which may extend to six months

and with fine.



Payment of deduction of Tax

and issuance of certificates to

deductee

Finance




and with fine.

FinanceDeduction of TaxMinistry of Finance and



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Liable to pay Simple interest

1.25% of the amount of such

tax, for each month or for part

thereof.



Manner and interval of payment

of tax.

Finance

Penalty equal to one tenth % of

the total sales




and with fine.



Accounts to be audited Finance




and with fine.



Preservation of books of

account

Finance


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Location Function Compliance Owner Other Owner

Mumbai Finance [email protected]. [email protected]

Waluj - Plant [email protected]

Jalna - Plant [email protected]

Chikalthana - Plant [email protected]

Thane - Plant [email protected]

Mumbai -HO [email protected]


Finance
mailto:[email protected]:[email protected]


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Waluj Finance [email protected]@nrbbearings.co.in


Waluj - Plant

Jalna - Plant

Chikalthana - Plant

Thane - Plant

Pune - Warehouse

Nagpur - Warehouse

Finance [email protected]

[email protected]

[email protected]

[email protected]

[email protected]

[email protected]

[email protected]


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Esc 1 Days 1 Esc 2 Days 2 Esc 3

[email protected] 5 [email protected]




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Days 3 Frequency Reminder

Days

Day Month Start year Start month No. of years

2 Monthly 21 21

2 Monthly 10 10

2 Monthly 21 21


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2 Monthly 21 21

5 Yearly 60 15 January

2 Yearly 30 30 April


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No. of

months

Is File

Upload

Mandatory

File Description

Yes Monthly Return -

Form 231

Yes Challan / issuance of

certificates to

deductee (Form 404)

Challan/Form 402Yes


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Yes Challan

Yes Audit Report in Form

704

Yes Confirmation from the

respective department


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Compliance

Number

Type Category Law

Event

Based

Indirect

Taxation

Maharashtra Value

Added Tax, 2002

Event

Based

Indirect

Taxation

Maharashtra Value

Added Tax, 2002

Event

Based

Indirect

Taxation

Maharashtra Value

Added Tax, 2002


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Event

Based

Indirect

Taxation

Maharashtra Value

Added Tax, 2002

Event

Based

Indirect

Taxation

Maharashtra Value

Added Tax, 2002

Event

Based

Indirect

Taxation

Maharashtra Value

Added Tax, 2002


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Event

Based

Indirect

Taxation

Maharashtra Value

Added Tax, 2002

Event

Based

Indirect

Taxation

Maharashtra Value

Added Tax, 2002


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Event

Based

Indirect

Taxation

Maharashtra Value

Added Tax, 2002

Event

Based

Indirect

Taxation

Maharashtra Value

Added Tax, 2002

Event

Based

Indirect

Taxation

Maharashtra Value

Added Tax, 2002


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Event

Based

Indirect

Taxation

Maharashtra Value

Added Tax, 2002


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Compliance Description

Section 3 of Maharashtra Value Added Tax, 2002

Turnover limits for Registration

Section 16 & Rule 8 of Maharashtra Value Added

Tax, 2002

Certificate of Registration


Exhibition of certificate of registration


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Section 17 & Rule 8A of Maharashtra Value Added

Tax, 2002

Fresh Certificate of Registration


Cancellation of certificate of registration


Notice to produce the certificate of registration


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Added Tax, 2002

Information to be furnished regarding changes in

business


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Section 32 (4) of Maharashtra Value Added Tax,

2002

Payment of tax


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Compliance Provision

Obtain the confirmation if turnover exceeded the following limits :

(a) Limit of turnover of sales is Rs. 5 Lakh and the value of taxable goods sold or

purchased by him during the year is not less than Rs. 10,000.

(b) In case of an importer, Limit of turnover of Sales is Rs. 1 lakh and the value of

taxable goods sold or purchased by him during the year is not less than Rs. 10,000.

If yes then - liable to pay tax w.e.f from the 1st day of April of the said respective

year, till the certificate or licence is duly cancelled under this Act. Procedure for

registration under MVAT (http://mahavat.gov.in/Mahavat/insheets/regthisins.jsp)

Obtain the confirmation that we are liable to pay tax under MVAT based on turnover

limits specified in U/S 3(4).

If yes then - It is required to apply for certificates of registration in Form 101 to the

registering authority within thirty days from the day on which his turnover of salesand of all purchases during the year commencing on the appointed day exceeds the

relevant limit specified in U/S 3 (4)

Provided that if holds the certificate of registration granted under the Bombay Sales

Tax Act, 1959, then it is not required to apply for a fresh certificate

Ensure that the certificate of registration or a copy is displayed conspicuously at each

place of his business (not being merely a warehouse).

Also it is required to securely affix and display the hologram identifying the dealer as

a registered dealer at a prominent place near the entrance of his each place of

business.


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Obtain the confirmation from the respective department that have more than one

place of business within the State and has obtained separate certificates of

registration for any of such places of business, in addition to the principal place of

business,

If yes then - It is required to make a single application in Form 108 respect of all the

places of business for which he holds registration certificate -a) to the registering authority if the original Registration Certificate is obtained under

the Maharashtra Value Added Tax Act, 2002;

(b) to the assessing authority in charge of the principal place of business if the

original registration certificate is obtained under the Bombay Sales Tax Act, 1959;

(c) to the officer designated by the Joint Commissioner concerned if the original

registration certificate is obtained under the Bombay Sales Tax Act, 1959 and the

case has not been assigned to an assessing officer.

Obtain the confirmation from the respective department whether business has been

discontinued or disposed of or has been transferred.

If yes then - It is required to made an application for cancellation of registration to

the registering authority in Form 103 within 30 days of the date of discontinuance,

transfer or disposal of business.

Obtain the confirmation from the respective department whether any notice issued

by the commissioner to produce the certificate of registration for the purpose of

carrying out any amendment therein under the Act.

If yes then - It is required to produce the certificate of registration to theCommissioner within 10 days from the date of service of a notice.


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Obtain the confirmation from the respective department that whether any of the

followings

(a) transfers by way of sale or otherwise disposes of his business or any part thereof,

or effects or knows of any other change in the ownership of the business, or

(b) discontinues his business, or changes the place thereof, or opens a new place of

business, or

(c) changes the name of his business, or(d) enters into a partnership in regard to his business, or

(e) applies for or has an application made against him for insolvency or liquidation,

(f) being a company, is involved in merger, de-merger or amalgamation of

companies,

(g) undertakes any change in the nature of business, or

(h) effects any changes in the Bank account.

If yes then - It is required to inform to the registering authority within 60 days from

the date of the occurrence of any of the events mentioned above with also deliver

the certificate of registration and all copies thereof

Obtain the confirmation from the respective department Where any dealer liable to

pay tax under this Act.

(a) dies, his executor, administrator or other legal representative or,

(b) where he is a firm, a Hindu Undivided Family or an association of persons and

there is a change in the constitution of such firm, Hindu Undivided Family or

association, either by way of dissolution, disruption, partial partition or partition, or

otherwise, then every person who was a partner, Karta or a member of such firm,Hindu Undivided Family or association, or

(c) transfers or otherwise disposes of his business in the circumstances mentioned in

sub-section (4) of section 44, then any person from whom and every person to

whom the business is so transferred.

If yes then - It is required to inform to the registering authority within 60 days from

the date of the death, change in the constitution, dissolution, partial partition,

partition, disruption or transfer.


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Obtain the confirmation if the name of the person or persons who shall be deemed

to be the manager or managers of such dealers business has been changed :

If yes then - Declaration shall be furnished in Form 105 at the time of registration or

where any such declaration is to be revised, it is required to declared within 30

days from the date on which the manager or managers previously declared are

changed to the registering authority.

Also it is required to submit the proof of having current bank account and a

permanent account number to the registering authority at the time of making

application.

Obtain the confirmation whether any notice issued by Commissioner in Form 212 for

defects in Return filled U/S. 20

If yes then - It is required to correct the defects and submit to the prescribed

authority a fresh complete and self-consistent return, within one month of the

service of the defect notice.

Obtain the confirmation from the respective department whether any omission or

incorrect statement in Original Return.

If yes then - May furnish a revised return in respect of the period covered by the

return at any time before a notice for assessment is served on him in respect of the

period covered by the said return or before the expiry of a period of 10 months from

the end of the year to which the return relates, whichever is earlier.


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Provided that discovers any omission or incorrect statement as a result of the report

of audit of accounts prepared U/S 61, it is required to furnish a revised return within

30 days from the date prescribed for furnishing the Audit report.

Obtain the confirmation from the respective department whether any notice issued

by the Commissioner for :-

(a) i) The amount of tax due where the return or revised return has been furnished

without full payment thereof shall be paid forthwith.

ii) The amount of tax which it becomes necessary to pay on account of the reduction

in set-off because of any contingency specified in the rules, shall be paid at the time

prescribed for making payment of tax for the period in which such contingency

occurs.(b) (i) The amount of tax due as per any order passed under any provision of this Act,

for any period, less any sum already paid in respect of the said period; and

(ii) the amount of interest or penalty or both, if any, levied under any provision of

this Act; and

(iii) the sum, if any, forfeited and the amount of fine, if any, imposed under the Act

or rules; and

(iv) the amount of tax, penalty and interest demanded in the context of excess

availment of incentives or availment of incentives not due; and

(v) any other amount due under this Act,

If yes then - It is required to paid into the Government treasury within 30 days from

the date of service of the notice issued by the Commissioner.


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Effect of Non-Compliance Agency Keywords Division

Finance

Rigorous imprisonment for a

term one month and may

extend to one year and with

fine.



Turnover for Registration Finance


1.25% of the amount of tax for

each month or for part thereof,

for the period commencing on

the 1st April of the respectiveyear to the date of the payment

of tax failed to apply for

registration (Maximum Interest

up to amount of tax found

payable for the respective year.




and with fine.



Certificates of Registration Finance

Display of certificateMinistry of Finance and




and when the offence is acontinuing one, with a daily

fine not exceeding Rs. 100/-




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and with fine.



Additing/removal of place of

business

Finance




continuing one, with a daily






Cancellation of certificate Finance





fine not exceeding Rs. 100/-during the continuance of the




Cancellation of certificate Finance


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and with fine.



Change in

Business/constitutions

Finance




and with fine.



Change in

Business/constitutions

Finance


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and with fine.



Manager and PAN No. Finance








In case of false return - Rigorous

imprisonment for a term one

month and may extend to one

year and with fine.



which may extend to six monthsand with fine.



Defect return notice Finance

FinanceShall be punishable with fine







In case of false return - Rigorous



Revised Return


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Finance


1.25% of the amount of such

tax, for each month or for part

thereof.



Payment of tax Finance

mpr sonmen or a erm one

month and may extend to one

year and with fine.




and with fine.


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Location Function Compliance Owner

Waluj - Plant Finance [email protected]

Jalna - Plant [email protected]

Chikalthana - Plant [email protected]

Thane - Plant [email protected]

Pune - Warehouse [email protected]

Nagpur - Warehouse [email protected]

Mumbai Finance [email protected].

mailto:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]


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Other Owner Esc 1 Days 1 Esc 2 Days 2

Jayprakash.pandey@nrbbearin 10 anup@nrb 5

[email protected] [email protected] 10

mailto:[email protected]:[email protected]


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Esc 3 Days 3 Frequency Reminder

Days

Days After

Report

generation

Is File

Upload

Mandatory

[email protected] 3 Yearly 30 30

[email protected] 5 One time 30 30 Yes

[email protected] 2 One time 30 30 Yes

Yes


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[email protected] 2 Half yearly 30 30 Yes

[email protected] 3 Yearly 30 30 Yes



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[email protected] 5 60 60 Yes



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[email protected] 1 30 One month Yes

[email protected] 5 Yearly 60 31-Jan Yes


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[email protected] 2 30 30 Yes


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File Description

Confirmation from the


Certificates of

Registration - Form

101




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Form 108

Form 103




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Copy of Declaration

Fresh Return

Revised Return


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Revised Return

Challan

Maharashtra Value Added Tax Act_Final

Documents

Transcript of Maharashtra Value Added Tax Act_Final