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Maharashtra Finance Department Enhanced monetary limit for selection of cases for assessment

Finance Department of Maharashtra has Enhanced monetary limit for selection of cases for assessment under Maharashtra Assessment Scheme, 2021, from INR 2.5 lakhs to INR 10 lakhs vide Notification No. VAT-1521/C.R. 1(A)/ 45/Taxation-1, dated April 1, 2021.  The notification for same is as follows-

 

 

FINANCE DEPARTMENT

Madam Cama Marg, Hutatma Raiguru Chowk,

Mantralaya, Mumbai 400 032, dated the 1st April 2021.

NOTIFICATION

 

MAHARASHTRA VALUE ADDED TAX ACT, 2002.

 No. VAT-1521 / C.R. 1(A) / Taxation-1.— In exercise of the powers conferred by clause (ii) of section 26B of the Maharashtra Value Added Tax Act, 2002 (Mah. IX of 2005), the Government of Maharashtra hereby makes the following Scheme further to amend the Maharashtra Criteria for Selection (on the basis of probable revenue earnings) of the cases for Assessment Scheme, 2018, namely :

1.      This Scheme may be called the Maharashtra Criteria for Selection (on the basis of probable revenue earnings) of the cases for Assessment (Amendment) Scheme, 2021.

2.        In clause 6 of the Maharashtra Criteria for Selection (on the basis of probable revenue earnings) of the cases for Assessment Scheme, 2018, in sub-clause (2), —

(1)          for the words “rupees two lakh fifty thousand” the words “rupees ten lakh” shall be substituted;

(2)        after the existing proviso, the following proviso shall be inserted, namely :

“Provided further that, in case of the dealers, whose registration certificate is not deemed to have been cancelled under sub-section (6A) of section 16 of the Act, the provisions of this sub-clause shall not be applicable for the periods starting from the 1st July 2017”.

 

 By order and in the name of the Governor of Maharashtra,

MANDAR KELKAR,

Deputy Secretary to Government

 

Read Also: 10 Important Changes in GST and Income Tax Regime w.e.f 01.04.2021

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