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Professional Tax Rate
October 7, 2018
Amendments in schedule III to the Companies Act, 2013
October 17, 2018

 

Due Date of Apply MVAT Security Deposit Refund

In Maharashtra new dealers had paid voluntary security deposit of Rs. 25000/- . VAT Deposit usually paid by Chque / DD / NEFT. Amount deposited by dealer to MVAT is refundable. Dealer need to apply for refund of MVAT Voluntery deposit is per rule 60A(2)(b).  earlier time period to apply for such VAT deposit was

1.After a period of 36 months from the end of month containing the date of effect of the reg. certificate but before the end of the period of 48 months.

However as per recent Trade Circular for MVAT deposit refund 26 T of 2018 dated 10/10/2018. Due Date for application to MVAT voluntary deposit refund shall be 31st March 2019.

 


Following list of documents for MVAT Security Deposit Refund Application  

  1. Vat certificate
  2. Cancelled Cheque
  3. Deposit slip or the bank statement page containing vat payments of 25000/-
  4. Form A – registration filing form
  5. Application letter
  6. Authority letter Form 709
  7. Other such documents officer may demand

Conditions for Applying MVAT Security Deposit Refund ?

Rule N0. 60 A of Maharashtra Value Added Tax 2002  lays down procedure. Dealer need to follow the conditions mentioned before apply MVAT Security Deposit Refund.

Following are conditions

  1. Application shall be made as time period clause (a) and (b) of Sub Rule 60A.
  2. File all returns till the date of date of application of refund or cancellation of registration
  3. dealer need to pay taxes as per said MVAT Return
  4. No out stand VAT demand pending

Can MVAT Security Deposit Refund be Adjusted against VAT Payable ?

With effect from 4th May 2011 MVAT security deposit is not liable for adjustment against tax payable. However this Rs. 25000/- deposit is refundable as per 60A.


Can MVAT Security Deposit refundable in cash mode ?

No. MVAT Refund Deposit of Rs. 25000/- shall be refundable in bank account of dealer. Mode of refund can be Chque / NEFT. Case mode is not available. In given bank details funds will be credited.


Vat Deposit Refund Application Format/ Letter Format

Letter head

VAT No. . 27____________-

M/S. ________
Sub: For Refund of security deposit

Respected Sir/Madam,

 

We M/s ABC Ltd having VAT registration number _______________ with effect from.  Our place of business is ___________. As a new dealer we paid Rs. 25000 as MVAT security deposit by DD No. _____ dated ______ . with respect to subject matter we here with making application for refund of MVAT security deposit. Our bank details as below

  • Name of Bank
  • Name of Account holder
  • Account No.
  • IFSC Code
  • Type of account

We are enclosing necessary copies of documents.

 

Kindly proceed our MVAT Security Refund.

Thanking you,
Yours truly
For M/S ABC Ltd.


 

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9 Comments

  1. Satish says:
    October 26, 2018 at 4:12 am

    I had done VAT registration with Rs. 25000 Security deposit in May 2015 , can I apply for refund.

    Reply
    • ANBCA says:
      October 26, 2018 at 4:16 am

      Yes , can apply for MVAT refund

      Reply
      • sunder says:
        January 22, 2019 at 7:06 am

        Can we apply in online???????

        Reply
  2. Sunil says:
    January 2, 2019 at 12:51 pm

    My VAT registration had been done in May 2013, can I Apply for deposit refund

    Reply
  3. Ronak says:
    March 8, 2019 at 3:56 pm

    The officer is taking about some circular to get ttached with all the documents for vat deposit refund . What circular is he exactly demanding for ?

    Reply
  4. Rakesh P Jain says:
    September 6, 2021 at 3:42 pm

    Can I apply for online to get refund of my security deposit for VAT
    My VAT Registration Date was on 19th Nov 2016
    Plz reply
    Thnxs

    Reply
  5. chintan j thakkar says:
    June 1, 2022 at 8:19 am

    hie, chintan j thakkar here.. my registration date is 10/04/2017.. what is the processer to get my 25000 amount back?

    Reply
  6. shivanand 9620214409 says:
    February 3, 2023 at 10:24 am

    We applied recently and now JC is refused due to time bar
    please advise in such cases

    Reply
  7. md gulfam says:
    July 26, 2023 at 5:25 am

    how can apply MVAT registration refund which web site. Please share MVAT refund online site link

    Reply

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A. N. Bhutada & Co. is trusted and versatile Chartered Accountant In Pune India. The firm have been providing various services under one roof in the field of Company Registration, Accounts outsourcing, Auditing, GST Audit, Filing in India.

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