In exercise of the powers conferred by sub-section (3A) of Section 42 of the Maharashtra Value added Tax Act, 2002 (Mah. IX of 2005), the Government of Maharashtra hereby, provide a scheme of Composition for the registered dealers specified in column (1) of the following schedule, who undertakes the construction of flats, dwellings or buildings or premises and transfer or agrees to tranfer them in pursuance of an agreement or otherwise along-with land or interest underlying the land and prescribes the rate of tax specified in column (2) of the said Schedule by way of composition, in lieu the amount of tax payable on the transfer of goods whether as goods or in some other form, in the execution of such works contract by such registered dealer under the Act, subject to the conditions and restrictions specified in column (3) of the said schedule.
(a) has not been registered on or before the 31st May 2017 ; or,
(b) is registered or not, on or after 1st June 2017.
(a) pay an amount as per column (2) on or before the 30th June 2017, if the said payment is received on or before the 31st May 2017 ;
(b) include such payment received as turnover of sales in the monthly return for the period of June 2017 or, as the case may be, for the quarter ending June 2017, as per the periodicity specified in the rule made in this behalf.
(2) The dealer specified in column (1), clause (b) shall,-
(a) pay an amount as per column (2), on or before the 21st day of the immidiately succeeding month in which the said payment is received;
(b) include such payment received as turnover of sales in the monthly return if periodicity for filling return is monthly or, as the case may be, the periodicity specified in the rule made in this behalf.
(3) The claimant dealer opting to pay composition amount under this scheme shall not be eligible to claim set-off of taxes paid in respect of the purchases.
(4) The claimant dealer shall not transfer the property in goods, procured from outside the State, using the declaration in Form C under the Central Sales Tax Act, 1956 in the contract for which he has opted to pay composition amount in lieu of tax payable under the Act.
(5) The claimant dealer shall not issue declaration in Form 409 to his sub-contractor in respect of the works contract for which composition is opted.
(6) The claimant dealer shall not be entitled to change the method of computation of tax liability in respect of contract for which he has opted for this composition scheme.
(7) The claimant dealer shall not issue Tax Invoice.
By order and in the name of the Governor of Maharashtra,
CHITRA KULKARNI
Officer on special duty to Government