Maharashtra Government amends Maharashtra Value Added Tax Rules, 2005 related to Return Filing [Read Circular]

The Maharashtra State Government has amended Maharashtra Value Added Tax Rules, 2005 regarding the filing of returns.

The Circular said that, The term “annual” was inserted by this notification, which means the period of twelve months starting on the 1st April and ending on the 31st March of the relevant financial year.

The Circular also said that, New sub-rule (4B) was inserted in rule17 of the MVAT Rules, for change in the periodicity of filing of returns. The periodicity for filing of returns for the period starting on or after 1st April 2019 is as follows  [rule 17(4B) inserted by G.N.F.D. No VAT-1519/CR-89/Taxation-1, dated 8th August 2019]:-

(i) A registered dealer whose tax liability during the previous year had not exceeded rupees twenty five thousand, shall file Annual Return within twenty-one days from the end of the year to which such return relates.

(ii) A registered dealer,

• whose tax liability during the previous year was more than rupees twenty-five thousand but not exceeding rupees ten lakh or
• whose entitlement for a refund during the previous year had not exceeded rupees one crore, shall file Quarterly return, within twenty-one days of the month immediately

succeeding the quarter to which the return relates.

 (iii) A registered dealer,

• whose tax liability during the previous year had exceeded rupees ten lakh or
• whose entitlement for a refund during previous year had exceeded rupees one crore

Shall file monthly return within twenty-one days from the end of the month to which the return relates.

While concluding the Trade Circular, the department also said that, The periodicity of returns for the period, prior to 1st April 2019, has not been changed. The clarification of the terms, “tax liability” and “entitlement for refund” in Explanation I and II of rule 17(4), for determining the periodicity of refund shall apply for the periods from 1st April 2019 onwards also.