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February 2016

Amendment in Rules

By Tarun Ghiai
Pratik Mehta
Brijesh Cholera Chartered Accountants
Reading Time 1 mins
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N o . VAT. 1 5 1 5 / C R – 1 5 8 / Ta x a t i o n – 1 d a t e d 30.12.2015

Maharashtra Government has amended the Maharashtra Value added Tax Rules, 2005. Rule 52B has been added under which if the claimant dealer has purchased goods covered under Entry 13 of Schedule D -Aerated and Carbonated non-alcoholic beverages, whether or not containing sugar or other sweetening matter or flavor or any other additives and under Entry 14 of Schedule DCigar and cigarettes, then he will be entitled to set-off in respect of the said goods only to the extent of aggregate of the tax paid or payable under the Central Sales Tax Act, 1956 on interstate resale of the corresponding goods and the taxes paid on the purchase of said goods if resold locally under the Act.

The set-off in respect of said goods shall be claimed only in the month in which corresponding sales of such goods is effected by the claimant dealer. Above conditions are not applicable to the purchases of such goods which are sold in the course of export of goods out of the territory of India. (Applicable wef 1-1-2016).

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