Maharashtra is the most industrialized state of the Indian Union and offers a dynamic manufacturing base, a conducive trading environment, vibrant markets, robust infrastructure, balanced economic laws & labour legislation's. Geographically strategic location, abundant human & natural resources, skilled and affordable manpower and a high disposable income makes Maharashtra the preferred destination of the investing community. Maharashtra will play a crucial role in India's emergence as a world leader.
Mumbai, the capital city of Maharashtra is a megaopolis flaunting world-class banking infrastructure and financial institutions. The Union finance minister's commitment in his 2005-06 budget speech of converting Mumbai into an 'International financial hub' between London & Tokyo, portrays the Governments will and the inherent potential of Mumbai.
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The Sales-Tax department is one of the core departments of the Government of Maharashtra contributing in excess of 20,000/- Cr. i.e. about 2/3 of the total revenue of the state government. The department is manned by around 11, 000 personnel who perceive the business community as 'partners in progress'. It has an efficient administrative mechanism, with one of the lowest cost of collection ratio in the country. The sales tax offices are spread across 38 locations in the state.
The department administers the following acts:
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Maharashtra Value Added Tax Act,2005 |
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The Central Sales Tax Act,1956 |
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The Luxuries Tax Act,1987 |
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The Profession Tax Act,1975 |
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The Sugarcane purchase Tax Act |
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Entry Tax on Specific goods Act, 2002 |
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Entry Tax on Motor Vehicle Act, 1989 |
Presently the department is in a state of metamorphosis, as the new system of VAT is being adopted. The department looks forward to the implementation of the VAT regime and the historic shift from the present system of single point, multi rate system. Trust is the mainstay of the VAT regime. Simplicity, transparency, efficiency, self-assessment, summary acceptance of returns, relief to small dealers upto a turnover of 50 lakhs are the hallmark of VAT.
VAT is applicable from 1st April, 2005 and the department has the necessary legislative and personnel framework in place, to ensure a smooth and swift transition.
VAT- Simple, transparent, progressive. |
