REGISTRATION OF MVAT

Group No 4:Aksa Dayatar M1204Dhananjay Narayane M1214Kriti Bharadwaj M1224Palvinder Dhaliwal M1234Serene Ittikunnath M1244Tushar Karate M1254

INTRODUCTION OF MVAT ACT, 2002

The Maharashtra Value Added Tax 2002 (Herein after called as MVAT Act) has replaced the Bombay Sales Tax Act, 1959 on & w. e. f. 1st April 2005 and now the sales tax is collected by the Maharashtra government under MVAT Act, 2002. Up to 31st March 2005 the sales tax was collected under the Bombay sales Tax Act, 1959

INCIDENCE AND LEVY OF MVAT

As per the provisions of MAHARASHTRA VALUE ADDED TAX ACT, 2002 (MVAT), a dealer is liable to pay tax on the basis of turnover of sales within the state.

DEALERS LIABLE TO PAY TAX (SEC 3)

1. The dealers holding a valid registration certificate under the earlier laws, whose turnover of either sales or purchase exceeds the specified limits during the F.Y 2004-05

2. The dealers holding a valid registration certificate under the earlier laws, whose turnover of either sales or purchases has not exceeded the specified limits during the F.Y 2004-05, but who have opted to continue their registration certificate.

DEALERS LIABLE TO PAY TAX (Sec 3)

3. New dealers whose turnover of sales exceeds the prescribed limits during any year, commencing on or after 1st April 2005.

4. A successor in business of any dealer shall become liable to pay tax on and from the date of succession.

5. A dealer applying for voluntary registration

DEALERS LIABLE TO PAY TAX:- (SEC.3)

6. The Maharashtra Tax Laws( levy, Amendment and Validation) Act, 2012, provides for liability to pay tax of certain dealers on the basis of turnover of purchases (of specified good sin newly inserted sections 6A and 6B )

REGISTRATION [ SEC.16, R 8 ]

Every dealer who becomes liable to pay tax under the provisions of MVAT , shall apply electronically for registration to the prescribed authority, in form 101, within 30 days from the date of such liability

TURNOVER LIMITS FOR THE PURPOSE OF LIABILITY/ REGISTRATION [SEC.3(4) ]

CATEGORY OF DEALER

TOTAL TURNOVER OF SALES

TURNOVER OF TAXABLE GOODS PURCHASED OR SOLD

IMPORTER RS. 1,00,000 RS. 10,000

OTHERS RS. 5,00,000 RS. 10,000

DOCUMENTS REQUIRED FOR THE PURPOSE OF REGISTRATIONA. IN CASE OF FRESH REGISTRATION1. PROOF OF CONSTITUTION OF BUSINESS(AS

APPROPRIATE) In case of proprietary firm: no proof required In case of partnership firm: copy of

partnership deed In case of company: copy of Memorandum of

Association and Articles of Association In case of other constitution: copy of relevant

documents

DOCUMENTS REQUIRED FOR THE PURPOSE OF REGISTRATION

2. PROOF OF PERMANENT RESIDENTIAL ADDRESS Copy of passport Copy of driving license Copy of election photo identity card Copy of property card or latest receipt of

property tax of municipal corporation/council/gram panchayat as the case may be

Copy of latest paid electricity bill in the name of the applicant

DOCUMENTS REQUIRED FOR THE PURPOSE OF REGISTRATION3. PROOF OF PLACE OF BUSINESS IN CASE OF OWNER : proof of ownership of

premises viz; copy of property card or ownership deed or agreement with builder or any other relevant documents.

IN CASE OF TENANT/SUB TENANT: proof of tenancy/sub tenancy like copy of tenancy agreement or rent receipt or leave and license or consent letter etc.

Copy of electricity bill

DOCUMENTS REQUIRED FOR THE PURPOSE OF REGISTRATION4. PROOF OF BANK ACCOUNT A leaf of cancelled cheque of the

current bank account in the name of the business ( trade name )

5. Two latest passport size photographs of the applicant

6. Copy of Income Tax Pan Card7. Challan in original showing

payment of registration fee.

FEES PAYABLE VOLUNTARY REGISTRATION: RS

5,000/- OTHERS: RS 500/- only ( payment of

fees of RS 500 wherever applicable may be paid through court fee stamps also )

REGISTRATION IN CASE OF CHANGE IN CONSTITUTION OF THE DEALER

Proof of change in constitution (e.g. if proprietary concern converted to partnership firm then copy of Partnership deed etc.)

Copy of latest return-cum-chalan. Registration fee as per 6 given in A PAN of new firm Proof of permanent residential address

as specified at Sr. No.2.

REGISTRATION IN CASE OF TRANSFER OF BUSINESS All documents from 1 to 6 given

in „A‟ Copy of transfer deed Copy of latest return-cum-chalan

of the original dealer.

SUBMISSION OF DOCUMENTS IN THE FOLLOWING SEQUENCE PAN. Bank cancelled cheque leaf. Documents for Place of Business . Documents for Place of Residence . Partnership Deed/ Memorandum &

Article of Association ( as applicable) Any other related document

RATES OF TAXESSCHEDULE GOODS RATESSchedule A Essential Commodities

(Tax free)NIL

Schedule B Gold, Silver, Precious Stones, Pearls etc

1%

Schedule C -Declared Goods and other specified goods-other goods w.e.f 1-5-2005

4%

5%

Schedule D Foreign Liquor, Country Liquor, Motor Spirits, etc.

At specified rates

Schedule E All other goods (not covered by A to D)

12.5%

THANK YOU!!