VAT is a sales tax on the “agreement for sale” between builder and buyer. .Maharashtra government has issued a notification on the imposition of 1 per cent value added tax (VAT) on the contract price of flats mentioned in the agreement of sale registered on or after April 1.
Increase in MVAT Rates from 4% to 5%
April 21, 2010 by Leave a Comment
The Maharashtra Government has issued notification No VAT-1510/CR 47/Taxation-1.- dated 10th March, 2010; increase in rates of MVAT from 4% to 5% on sales of all goods which are now taxable at 4%. However rates of taxes of goods declared u/s. 14 of CST Act, 1956 i.e. declared goods, will continue to be taxed at
Government not able to push tax-bill
April 21, 2010 by Leave a Comment
Mumbai, Apr 19 : The Maharashtra government faced an embarrassing situation when it could not push through the Value added tax (VAT) bill after the opposition in the Legislative Assembly managed to force a discussion on the bill tomorrow
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