Maharashtra Ordinance No.V of 2007

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NOTIFICATION

FINANCE DEPARTMENT
Mantralaya Mumbai 400032 dated the 11^th July 2007

NOTIFICATION

THE MAHARASHTRA VALUE ADDED TAX ACT, -2002.

No. VAT.1507/CR-58/Taxation-1 – Whereas the Government of Maharashtra is satisfied that circumstances exist which render it necessary to take immediate action further to amend the Maharashtra Value Added Tax Rules, 2005 and to dispense with the condition of previous publication thereof under the proviso to sub-section (4) of section 83 of the Maharashtra Value Added Tax, 2002 (Mah IX of 2005)

Now, therefore in exercise of the powers conferred by sub-sections (1) and (2) read with the proviso to sub-section (4) of section 83 of the Maharashtra Value Added Tax Act, 2002 and of all other powers enabling it in this behalf, the Government of Maharashtra hereby, makes the following rules further to amend the Maharashtra Value Added Tax Rules 2005, namely :-

These rules may be called the Maharashtra Value Added Tax (Amendment) Rules, 2007.

In rule 52 of the Maharashtra Value Added Tax Rules, 2005 after sub-rule (2), the following sub-rule shall be added, namely :-

The Commissioner shall in respect of the purchases of drugs specified in entry (a) of entry 29 of Schedule ‘C’ held in stock at the close of business on the 30^th June 2007 by the claimant dealer grant him a set-off as per the following formula, namely :-

Maximum Retail Price X 4/104

Provided that the claimant dealer shall not be entitled to claim set-off under this sub-rule unless he files a stock statement with the registering authority in the format appended hereto on or before the 31^st August 2007.

Explanation – For the purposes of this sub-rule “maximum retail price” shall mean, -

the sum of maximum retail price and sales tax, where it is separately charged in the invoice ; and

in any other case, the maximum retail price inclusive of sales tax”.

Format

Sr. No.	Date of Purchase	Description of goods	Actual Purchase Price	M.R.P. (in Rs.)
				MaxiMum Retail price	Tax(if Charged Separately In invoice)
(1)	(2)	(3)	(4)	(5)	(6)

			Total .

By order and in the name of the Governor of Maharashtra

SHASHANK MATHANE,

Officer on special Duty to Government.