Vat rate are change

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Dhiraj Naik (Querist)
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12 April 2016 Dear Sir / Madam,
Please suggest the VAT rate change 5% VAT to New rate is 5.5% is change.

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CA ANKIT GUPTA

CA ANKIT GUPTA (Expert)
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12 April 2016 Dhiraj

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Aashok Kumar Sharma online

Aashok Kumar Sharma

(Expert)
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03 August 2025 Yes, the Maharashtra VAT rate was increased from 5% to 5.5%, effective from 1st April 2016. This change was implemented through Notification No. VAT. 1516/C.R. 31/Taxation-1, issued by the Maharashtra Finance Department on 30th March 2016.
CAclubindia
+5
TaxGuru
+5
Stvat
+5
The notification amended Schedule A and Schedule C of the Maharashtra Value Added Tax Act, 2002, to reflect this rate adjustment. The revised rate applied to various goods, including certain iron and steel products, which were previously taxed at 5%.
TaxGuru
+1
CAclubindia
+1

This increase was part of the 2016-17 state budget proposals and was aimed at compensating for potential revenue losses due to the impending implementation of the Goods and Services Tax (GST).

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