Changes in Rate of Interest under MVAT

Description:

Under the Maharashtra Value Added Tax Act, 2002, every dealer is required to pay tax within the prescribed time. If payment of such tax is delayed, then interest under Section 30 of the Maharashtra Value Added Tax Act, 2002 is attracted. The dealer is liable to pay interest as per the rate prescribed in Rule 88(1) of Maharashtra Value Added Tax Rules, 2005. The State Government has issued a Notification No. VAT 1515/CRÂ81/ Taxation-1, dated 5th November 2015 in this respect. By virtue of the said notification an amendment to sub-rule (1) of the Principal rule 88 under Maharashtra Value Added Tax Rules, 2005 is effected. Earlier under rule 88(1) the rate of interest was one and a quarter percent of the amount of delayed tax payment. By this amendment the rates of interest prescribed under rule 88(1) for the purpose of subsection (1), (2) and (3) of section 30 of Maharashtra Value Added Tax Act, 2002 are revised. The said amendment is effective from 1st of December 2015. #xlsx

Submitted By:

CA Sanjay Zanwar

on 07 January 2016

Other files by the user

Downloaded:

518 times

File size:

1.16 MB

Rating:

Download Other files in VAT category

Share Report

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Comments

Trending Downloads

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

deepak

Sasidhar B

Aniruddha Mody

Vinod Patil

THOMAS JOHN

Subscribe Now

Changes in Rate of Interest under MVAT

Trending Downloads

Promotion and Regulation of Online Gaming Rules, 2026

RBI issues Consolidated Directions on Digital Payments: E-mandate Framework, 2026

Master Direction on Prepaid Payment Instruments (PPIs), 2026

RBI issues Directions on Asset Classification, Provisioning and Income Recognition for Commercial Banks

RBI Bulletin - April 2026

Trending Online Classes

Meet our CAclubindia PRO Members

Popular Files

Quick Links

Latest Job Openings

GST CONSULTANCY

Article Assistant

GST CONSULTANT

Accountant

CA Final