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.
The Sales-Tax department:
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.
1.
Maharashtra Value Added Tax Act,2005
2.
The Central Sales Tax Act,1956
3.
The Luxuries Tax Act,1987
4.
The Profession Tax Act,1975
5.
The Sugarcane purchase Tax Act,
6.
Entry Tax on Specific goods Act, 2002
7.
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.
