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May 2015

Mah. Amendment Act No. XVII of 2015

By Tarun Ghia, Kevin Shah, Brijesh Cholera Chartered Accountants
Reading Time 1 mins
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Maharashtra Act No. XVII of 2015 published in the Maharashtra Government Gazette on 18.4.2015 after having received assent of the Governor.

Few important amendments in MVAT are as follows:-

• Definition of “Purchase price” and “sale price” amended to exclude Service Tax if separately collected.

• Late Fee for delayed return filed before thirty days reduced to Rs.1,000/- from Rs.2,000/-.

• Application u/s.23(11) for cancellation of assessment order also provided for order passed u/s. 23(5). • Dates for working of interest for filing annual revised return provided.

• Schedule Entry C-4 amended to include embroidery thread in category of sewing thread with effect from 1.4.2005.

• Notification under Schedule Entry C-54 amended to include white butter in relation to “Desi Loni” with effect from 1.4.2005.

• Schedule Entry C-91 amended so that spices shall include spices in all forms of varieties and mixtures of any of the spices with effect from 1.4.2005.

Amendment in Professional Tax Act :

Female Employee getting salary less than Rs. 10,000/- per month : Employee Professional Tax will be Nil.

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