Section 93(1A) in The Maharashtra Value Added Tax Act, 2002

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State of Maharashtra - Subsection

Section 93(1A) in The Maharashtra Value Added Tax Act, 2002

(1A)In case where the Eligible Unit has,-

(a)maintained separate account of sales and purchases and is able to identify the sales and purchases pertaining to the increase in the production capacity or, as the case may be, the said eligible investment, then the portion of the turnover eligible for benefits will be decided solely on the basis of such identification;

(b)not maintained separate accounts of sales and purchases and is not able to identify the sales and purchases in relation to increase in the production capacity or, as the case may be, the said eligible investment, then such benefits shall be calculated after applying the formulae in sub-clause (i) or, as the case may be, sub-clause (ii) given as under:-

(i)in case where there is increase in production capacity then for the Package Scheme of incentives for 1988 or, as the case may be, Package Scheme of Incentives for 1993, the formulae shall be as below:-

Eligible Turnover =| Turnover x Increase in production capacityTotal production capacity after such increase|

(ii)in case where there is no increase in production capacity then for the Package Scheme of Incentives for 1993, the formulae shall be as below:-

Eligible Turnover =| Turnover x New fixed capital investmentTotal gross fixed capital investment|

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State of Maharashtra - Subsection

Section 93(1A) in The Maharashtra Value Added Tax Act, 2002