Q. > Please Help: Maharashtra VAT

548 views • Question added Jun 17, 2016 • VAT • By Bipin Kumar Agarwal , CA , Rourkela

New Amended in Rule 52B of Mvat Act, 2002.
• As per Notification No -VAT 1515 / CR-158 / Taxation-1 Dated 30 December 2015

New Rule 52B related for restrictions on claim of setoff was inserted in M VAT Act 2002, which was applicable for goods covered under Entries No 13 & 14 of Schedule D appended to the Act.
• This rule is now amended by Notification No - No. VAT/1516/CR 53 /Taxation-1 dated. 01/04/2016 with effect from 01/04/2016.

As per amended rule now the Mobile Handset is also covered by this Rule. According to provisions of this Rule the dealers who are in dealing in the business of Mobile Handset will be entitle to claim setoff on purchase only to the extent of aggregate of .
1. CST Tax paid or payable under the Central Sales Tax Act 1956 on the interstate resale of the corresponding goods.
2. The Taxes paid on purchases of said goods, if are resold locally under the Act.

This setoff shall be claimed only in the month in which corresponding sales of such goods is effected.
Considering above discussion on amendment in rule 52B Please note following points:

1. Setoff on Mobile Handset will be claimed only in the respective month when those are resold
2. 100% setoff on purchase will be claimed if Mobile Handset is sold locally
3. If Handset are sold in course of OMS then only to the extent of CST Payable.
4. These provisions are applicable from 1st of April 2016.

Query:- My query is relating to point.1 whether dealer had to maintain one to one Co relation of Mobile Purchase or Sales, How to take Input of respective month.