Notification to amend the MVAT and other laws
L.A. Bill No. XI of 2013 to amend certain tax laws in operation in the State of Maharashtra published. Major changes in MVAT laws are as follows –
- Single revised return for the year provided in case of revision as per the audit report u/s 61 or as per intimation u/s 63
- Provision for issuing notification to waive or reduce late fee for class of dealers or periods as Government thinks fit
- Provision of automatic cancellation of Assessment Order passed u/s 23(1) after submitting the said period’s return.
- Condition to pay dues as per Audit Report within 30 days from receipt of notice and if not paid interest u/s 30(2) will be applicable
- If Refund for the period from 1st April, 2012 is Rs.5,00,000/- or less, the same can be carried forward to immediate succeeding year
- Refund application per return allowed to dealers whose inter-state sales are more than 50% of total sales turnover in previous year
- Company Secretary allowed to appear before any Authority in proceeding under the Act
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The complete Bill is available for Download
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