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The system of Value Added Tax (VAT) has been implemented, in the State of Maharashtra, w.e.f. 1 April 2005. Every dealer, who becomes liable to pay tax under the provisions of MVAT, shall apply electronically for registration, within 30 days from the date of such liability. VAT is implemented by Department of Sales Tax.
The total tax in Maharashtra is 45% as entertainment tax, 5% VAT on non theatrical and in addition there is a stamp duty on the agreements entered in Maharashtra. The VAT on theatrical was waived from May 2011 but there is still a past issue from 2005 to 2011 which the government is yet to exempt.
The tax is to be paid by a registered trader within 40 days. As per the rules, every trader whose annual turnover of purchase and sales of the goods included in the taxable schedule is not less than ₹ 5000 and if the annual turnover of purchase and sales of all the goods is not less than ₹ 1,00,000 (one lakh) is supposed to be registered with the local civic body i.e. municipality.
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Maharashtra with a total area of 307,713 km 2 (118,809 sq mi), is the third-largest state by area in terms of land area and constitutes 9.36 per cent of India's total geographical area. The State lies between 15°35' N to 22°02' N latitude and 72°36' E to 80°54' E longitude.
Goods and Services Tax (India) The Goods and Services Tax (GST) is a successor to VAT used in India on the supply of goods and service. Both VAT and GST have the same taxation slabs. It is a comprehensive, multistage, destination-based tax: comprehensive because it has subsumed almost all the indirect taxes except a few state taxes.
e. A value-added tax ( VAT or goods and services tax ( GST ), general consumption tax (GCT) ), is a consumption tax that is levied on the value added at each stage of a product's production and distribution. VAT is similar to, and is often compared with, a sales tax. VAT is an indirect tax because the consumer who ultimately bears the burden of ...
Taxation of digital goods. Digital goods are software programs, music, videos or other electronic files that users download exclusively from the Internet. [ 1] Some digital goods are free, others are available for a fee. The taxation of digital goods and/or services, sometimes referred to as digital tax and/or a digital services tax, is gaining ...