With new Notification No. VAT. 1516/CR 123/Taxation-1 issued by Maharashtra Government the Rate of Value Added Tax (VAT) has increased the rate of VAT rates with effect from 17th September, 2016. The following are the notable changes:-
- All the Goods which were classified under Schedule-C & Taxable @ 5.5% shall be taxed at the rate 6%.
- All the Goods which were taxable @ 12.5% (i.e Covered in Schedule E-1) shall be now taxed at the rate 13.5%.
- The new rate of motor Spirit is change to 26% +Six rupees per liter (Schedule D Entry No.10)