Schedules under MVat Act For Tax Rate Purpose

In MVat Act there are 5 Schedules through which dealer are decided their 

products Tax Rates :-

1) Schedule A:-
2) Schedule B:-
3) Schedule C:-
4) Schedule D:-
5) Schedule E:-

1) Schedule A :- 

                 In this Schedule goods are essential items which are Tax-Free. Eg. Bread,Milk,Cereals,Pulses etc.

2) Schedule B:-                                                                                                                            In this Schedule goods are bullion's and   specie, jewelry,diamonds,Imitation jewelry etc. It Tax Rate liable to @1 % & 1.10 %

3) Schedule C:-

                 In this Schedule goods are raw material,packing materials and I.T products liable to 5% Tax rate.

4) Schedule D:-

                  In this Schedule goods are liquors and motor spirits which are liable to Tax Rates 20 % & 50 %

5) Schedule E:-

                       In this Schedule all goods are covered which are not included in earlier Four Schedules.It liable to Tax Rate 12.5%

 

Registration criteria's under Mvat Act

In Maharashtra Registration under Mvat Act is a simple procedure.

The dealer can registered under Mvat Act very easily.

There are two criteria s are available for Registration :-

1) Registration under Turnover basis.

2) Voluntary Registration.

The explanation of the above two are as under:-

1) Registration under Turnover basis :- 


of taxable goods is Rs.10,000/-(Ten Thousand)

Registration fees under turnover basis is Rs.500/- only.

This is compulsory on dealer while exceeding the turnover limit of sales under 

Sec.3(4) of MVAT Act. From 26-06-2014 dealer can apply for Registration on 

his turnover of sales is Rs.10,00,000/-(Ten Lakh) and the turnover of sales or 

purchases of taxable goods is Rs.10,000/-(Ten Thousand) & 

For Importer Rs.1,00,000/-(One Lakh) and  the turnover of sales or purchases 

2) Voluntary Registration:-

Rs.5,000/-(Five Thusand) Fees which is non-refundable and

Rs.25,000/-(Twinty Five Thousand) deposit which is  adjustable against tax 

liabilities.