Maharashtra vat
This query is : Resolved
28 January 2013
MVAT rate on software services?
28 January 2013
Hi Rajesh,
in Maharashtra VAT Act, vat is 5% on IT product ( IT product as notified by state government time to time). and Software is covered under IT product at serial no.14( link for notification for IT product- http://www.mahavat.gov.in/Mahavat/MyFold/KNOWLEDGE%20CENTER/NOTIFICATIONS/KNOW_NOTIFI_MVAT/NOTIFICATION-MVAT-2005-016.pdf
).
hence software is taxable @5% vat.
regards
CA Vipin Jain
in Maharashtra VAT Act, vat is 5% on IT product ( IT product as notified by state government time to time). and Software is covered under IT product at serial no.14( link for notification for IT product- http://www.mahavat.gov.in/Mahavat/MyFold/KNOWLEDGE%20CENTER/NOTIFICATIONS/KNOW_NOTIFI_MVAT/NOTIFICATION-MVAT-2005-016.pdf
).
hence software is taxable @5% vat.
regards
CA Vipin Jain
30 January 2013
Thanks for prompt reply.
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