Monthly Archives: Sep 2016

MVAT

MVAT Rate changed from 17/09/2016

Dear Professional Colleagues,

The Rates of MVAT has been changed from 17/09/2016 vide notification no. VAT. 1516 /CR 123/ Taxation -1 dated 16/09/16 from 5.5 % to 6% in schedule C specified entries and 12.5% in schedule E to 13.5%. 
With Regards,
CA Amit Shah
The Notification is attached for your reference.know_notifi_mvat_09_16_16_6_24_4pm
Read More
Uncategorized

LBT is applicable from 15th Aug 2016 on Liquor in all municipal corporation in Maharashtra

  LBT is applicable from 15th Aug 2016 on Liquor in all municipal corporation in Maharashtra

Copy of notification is reproduced below.

Please feel free to contact us for more details –

Vision Consultancy

Landline Number- 0231-2656520

Cell No – 8624892442, 9422620771

Email ID – visionconsultancy01@gmail.com

                           NOTIFICATION

  • MAHARASHTRA MUNICIPAL CORPORATIONS

 

No.  LBT. 2016/CR -26/2016/(UD-32).—In exercise of the powers conferred by the sub-   section

  • of section 152T of the Maharashtra Municipal Corporation Act (LIX of 1949) and of all other powers enabling it in that behalf, the Government of Maharashtra, hereby makes the following rules, the same having been previously published vide Government Notification, Urban Development Department No. LBT. 2016/CR-26/2016/UD-32, dated 2nd August 2016, as required by sub-section (2) of the said section 152T namely  :—
    1. These rules may be called the Maharashtra Municipal Corporations (Local Bodies Tax) (Amendment) Rules,
    2. In rule 3 of Maharashtra Municipal Corporations (Local Bodies Tax) Rules, 2010, in sub-rule (1),  the following proviso shall be  added,  namely :—

“Provided further that, the dealers who are doing business of foreign liquor, country liquor and wine etc., and whose turnover, irrespective of sales and purchases during the financial year starting on or after15th August 2016,  is less than Rs.50.00  Core, shall  also be  liable  for registration.”

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

 

SUDHAKAR D. BOBADE,

Deputy  Secretary  to Government

 

Read More
professional tax

Profession Tax Enrolment Amnesty Scheme 2016– A one time relief

Dear Sir/Madam,

We are providing various taxation consultation at Vision Consultancy. Government of Maharashtra has introduced Professional Tax Amnesty Scheme under which an unregistered person can get enrolled by just paying last 3 years tax and entire interest, penalty and tax for the prior period will be waived.

Brief details are given below. You may please feel free to contact us for any further information required about the same.

Regards,

Vision Consultancy

“Shree Parshwa”,138/2, E- Ward,

Near Swaminarayan Mandir,

Behind IDBI Bank,

Assembly Road, Kolhapur-416001.

Landline Number- 0231-2656520

Cell No – 8624892442, 9422620771

Email ID – visionconsultancy01@gmail.com

* Profession Tax Enrolment Amnesty Scheme 2016– A one time relief *

 The Maharashtra government has introduce Scheme for professionals and self-employed who has not enrolled for Professional Tax and not paid any Professional Tax (PT) till date. Government send usually notice to all those who are liable to pay professional tax and make them pay Professional Tax for 8 years with interest and penalty. To give one time relief to all government has introduced amnesty scheme. This scheme is applicable only to the unregistered persons as on 1-4-2016, those who are already registered before 1-4-2016 cannot avail the scheme

   1.Professional Tax Applicability

Professional Tax is applicable for all professional like Chartered Accountant, Doctors, Lawyers, Architecture, Interior Designer, Shopkeepers, etc. It is also applicable for Directors of Company , Partners of LLP and Partnership. However in case of multiple business PT has to be paid only once and also person above age of 65 are not liable to pay PT.

   2. Benefit under Scheme

Profession tax and related interest in respect of periods prior to 01/04/2013 will be waived in full, if enrollment certificate is obtained during amnesty period. Penalty u/s 5(5) for late enrolment will not be imposed against who obtain enrollment certificate under this scheme.

I.e. persons who opt for amnesty scheme will have to pay tax for previous three years only.

 

Table explaining benefit of the scheme –

Particulars Liability Without Amnesty Scheme Liability with Amnesty Scheme
Professional Tax Rs. 2500 * 8 = Rs. 20,000/- Rs. 2500 * 3 = Rs. 7,500/-
Interest   Rs. 12,000/-              Nil
Penalty   **      Rs. 5844//-              Nil
Total Liability     **       Rs. 37,844/-          Rs. 7,500/-

** Approximately

Amnesty scheme can be opted only till 30th September, 2016

For Further consultation and compliance please contact

Vision Consultancy

“Shree Parshwa”,138/2, E- Ward,

Near Swaminarayan Mandir,

Behind IDBI Bank,

Assembly Road, Kolhapur-416001.

Landline Number- 0231-2656520

Cell No – 8624892442, 9422620771

Email ID – visionconsultancy01@gmail.com

Read More