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Registration under The Maharashtra Value Added Tax 2002


MVAT Act has replaced the Bombay Sales Tax Act, 1959 w. e. f. 1st April 2005 and now the sales tax is collected by the Maharashtra Government under MVAT Act, 2002.


When to apply for MVAT Registration?


1. New dealers whose turnover of sales exceeds the prescribed limits during any year, one needs to apply within 30 days from that date of exceeding turnover.
2. A successor in business of any dealer shall become liable to pay tax on and from the date of succession.
3. There is option to apply voluntarily even though turnover does not exceed the prescribed limits during any year.
4. In case of change in constitution, transfer of Business, one needs to apply within 30 days from date of such change or transfer.
5. In case of transfer of business by way of succession in case of death, one needs to apply within 60 days from date of such death
6. Dealer having more than one place of business in different locations within the state is required to make single application for registration in respect of all such places.

Maharashtra VAT Registration Process

Document Collection

Our Expert will help you collect all the requisite information & documents

Application Form

Our Expert will prepare requisite form and get your signature.

Submition

The application form with documents will be submitted to VAT Department.

Registration

Concerned Authorities will verify the documents and issue the Registration Certificate for you Business.

Duties of VAT Registered Dealer

Quoting of PAN

PAN Holder should always quote correct PAN whenever the transaction requires so as per the provisions of the Income Tax Act, 1961.

Filing of Income Tax Return

Income Tax Act, 1961 requires Income Tax returns to be filed by the holder of PAN in case the income exceeds the basic exemption limit.
Every Partnership/Company is required to submit its income tax return for any income or loss.

Payment of Income Tax

In case taxable income exceeds the basic exemption limit, then the assessee i.e. PAN holder should pay calculated tax with the help of PAN.

Reply to Notices

Income Tax Department may collect different type of information from Assessees by issuing notices under different provisions of Act. Assessee need to promptly and correctly reply to these notices.

Benefits of obtaining VAT Registration:


1. It empowers the dealer to collect tax.
2. A registered dealer gets the benefits of set off (input tax credit)
3. Business without registration invites penalty/prosecution.
4. A Central Sales Tax registered dealer can purchase goods outside state at concessional rates against various declaration forms.
5. Registered dealers are preferred while awarding the government contracts.

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