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 was1.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.
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
Letter headVAT No. . 27____________-M/S. ________ Sub: For Refund of security depositRespected 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