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Maharashtra Act XXVII of 2014

Maharashtra Act XXVII of 2014 has received assent of the Governor on 26th June, 2014 and highlights of the changes in respect of Maharashtra VAT and Profession Tax are as follows -

- VAT Registration limit increased to 10 lakhs
- Dealers other than importers, whose turnover during the FY 2013-14 not exceeded registration limit of Rs.10 lakhs, can apply for cancellation on or before 30-09-2014 and will be cancelled w.e.f. 1-10-2014.
- Late Fee reduced to Rs.2,000/- if filed within 30 days from due date.
- Provision giving power to Commisioner on application by dealer for giving directions in respect of assessment deleted.
- If order cancelling the Assessment on an application u/s 23(11) is not passed within 3 months from end of the month in which application is made, assessment will be deemed to be cancelled.
- No stay against the dues on account of non-production of certificates or declaration if two years has passed from the end of year for which claim relates, unless 100% tax in respect of such claim is paid.
- Penalty for concealment is restricted to 100% of tax evasion but will not be less than 25% of tax evasion u/s 29(3)
- If dealer has filed late return on or after 1-8-2012 and paid late fee also, penalty if levied will not be recovered.
- No 30(4) penal interest is payable on additional liability on account of non-production of certificates or declarations.
- No 30(4) penal interest if tax paid as per revised return is less than 10% of tax paid with original return.
- TDS by person who awards quarrying lease or quarrying permit in respect of minor minerals.
- Facility to apply for refund per return filed extended to units covered under Package Scheme of Incentives 2013.
- VAT Audit limt raised to 1 crore
- Turnover of Sales for VAT Audit to include value of goods transferred outside state not by reason of sale
- Dealers holding liquor licenses mentioned in clause (b) omitted form VAT Audit unless covered due to turnover limit
- Power of waiver of Audit penalty if filed within one month deleted.
- Profession Tax limit for salaried persons increased to Rs.7,500/-
- Power given to State Government to waive or reduce late fee
- Exemption extended to person who is suffering from mental retardation specified

For Act XXVII of 2014, visit website or


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