Event Name

Highlights of the events:

MAHARASHTRA STATE TAX AMNESTY SCHEME AND MANDATORY PREPARATION OF E INVOICING

The Maharashtra government vide Trade Circular No. 11 T of 2023 dated June 26, 2023 has introduced the Maharashtra Settlement of Arrears of Tax, Interest, Penalty or Late Fee Act with the aim of reducing pending litigations and unlocking outstanding dues under previous tax laws. This act provides a one-time payment option for individuals to settle their arrears and benefit from the scheme. The act outlines three categories of arrears eligible for settlement.

The first category includes orders that were issued on or before April 30, 2023, or any statutory orders passed during the operative period of the Settlement Act, which runs from May 1, 2023, to October 31, 2023. The second category includes returns or revised returns that were filed before the enactment of the Settlement Act, 2023 or during its operative period. The third category covers amounts determined and recommended as payable by auditors in audit reports submitted under section 61 of the Value Added Tax Act, irrespective of whether a notice under section 32 or 32A of the Value Added Tax Act has been issued.

The Central Board of Indirect Taxes CBIC, has issued notification for mandatory preparation of E-Invoicing from 1st August 2023, this will be applicable to all the registered persons/assesses whose aggregate turnover in any prior fiscal year from 2017-18 onwards exceeds 5 crores. 

Considering the above developments, COSIA along with TSSIA and the Maharashtra State GST Office had organized an awareness session on the above topics on 02^nd August, 2023.

Opening remarks and welcome address was given by Mrs Sujata Soparkar – President TSSIA. This was followed by address of State GST Officials as follows:

·         Mr. Rajesaheb Mane, Jt. Commissioner-State Tax, Appeal

·         Mr. Balwant Tope, Jt. Commissioner-State Tax

·         Mr. Prasad Joshi, Addl. Commissioner of State Tax

·         Mr. Nitin Patil- IAS Officer, Special Commissioner of State Tax, Maharashtra

CA Nandan Khambete COSIA Taxation Committee Member & TSSIA EC Member and Mr. Sachin Mhatre , Member Direct & Indirect Tax Committee-TSSIA gave concluding remarks and vote of thanks for this opening session respectively.

The presentation on the Amnesty Scheme was given by the following State GST Officials:

·         Smt. Roopmati Manere, Deputy Commissioner State Tax on legal aspects of amnesty scheme

·         Mr. Gopalkrishna Yadav, Assistant Commissioner State Tax on Technical aspects

·         Mr. Sharad Yadav, Asst. Commissioner State Tax on Profession Tax related aspects of Amnesty Scheme

The presentation on E Invoicing was done by the following:

·         Mr. Shivaji Dhainje, Deputy Commissioner on E-Invoice

·         How to prepare E-Invoice in Tally software and its features by Rajlaxmi Solutions Pvt. Ltd by Mr. Shukla and Mr. Tiwari. 

Vote of thanks for this session was given by Smt. Roopmati Manere, Deputy Commissioner State Tax, Thane City