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THE SIKKIM VALUE ADDED TAX ACT, 2005 - SCHEDULE

(Schedules updated till 31st January, 2015)

Schedule No

Schedule I

Schedule II

Description
Exempted Goods
Agriculture implements operated manually, Books and Journals, Cotton
and Silk yarn, Fresh Vegetables and Fruits, Textiles, Coconut Fiber,
Bangles, Meat, fish and live stock.
Goods taxable @ 1%
Gold and Silver ornaments, Precious Stones, Bullions, Platinum Jewellery.

Schedule III

Goods taxable @ 4%
Agriculture implements not operated manually, Bamboo, Bicycles, All
types of yarn other than cotton and silk yarn, Drugs and medicines, Paper
and News print, Readymade garments, Tea, Tamarind, Chemical fertilizers
etc

Schedule IV

Industrial Inputs and IT products table @ 4%


Oil, crude, refined or purifies, Animal fats, Nickel, Cobalt, Zinc and Tin
ores, Methanol, All acids, LCD panels, calculators, circuits, switches &
connectors etc
Goods taxable @ 12.5%
Abrasives including grinding stones, abrasive sheets, wheels, sections,
Absolute alcohol, methyl alcohol, Air conditioning plants, air conditioners
and other air conditioning appliances, air coolers, room coolers including
all cooling appliances, apparatus and instruments.

Schedule V

Gas cylinders, gas stove, burners and other accessories thereof.


Motor vehicle, chassis of motor vehicles, motor cycles, motor
combinations.
Tooth paste, tooth powder (whether medicated or not,) tooth brush and
other dentifrices, mouth washes and deodorants.

THE MAHARASHTRA VALUE ADDED TAX ACT, 2002 SCHEDULE

Schedule Name

DESCRIPTION
Exempted Goods

Schedule A

Schedule B

Covers goods, which are generally necessities of life. Goods


covered by Schedule A are free from tax. Some of the items
covered by Schedule A are agricultural implements, cattle feed,
books, bread, fresh vegetables, milk, sugar, fabrics, plain water, etc.
Goods taxable @ 1%
Covers jewellery, diamonds, precious stones and imitation jewellery.
Goods covered by Schedule B are subject to tax at 1%.
Goods taxable @ 4%

Schedule C

Covers items of daily use or raw material items like drugs,


readymade garments, edible oil, utensils, iron and steel goods, nonferrous metal, IT products, oil seeds, paper, ink, chemicals,
sweetmeats, farsan, industrial inputs, packing materials etc.

Goods taxable @ 4%, 5%, and 20% and above


Schedule D

Schedule E

Covers Liquor which was subject to 25%.It also covers various


types of motor spirits that are subject to tax from 4% to 34%.
Goods taxable @ 12.5%
All items which are not covered in any of the above Schedules are
automatically covered in residuary Schedule E and are subject to tax
at 12.5%.

Comparison in Audit Procedure:


Point of Distinction

Maharashtra

Sikkim

(As per Maharashtra VAT


Act, 2002)

Audit criteria

Every dealer liable to pay


tax if his turnover of sales
or, as the case may be, of
purchases cases, exceed or
exceeds rupees forty lakh
in any year has to get his
accounts in respect of such
year
audited
by
an
Accountant within the
prescribed period from
the end of that year and
furnish within that period
the report of such audit in
the prescribed form duly
signed and verified by such
accountant and setting forth
such
particulars
and
certificates as may be
prescribed.
[As per Maharashtra VAT
Act, 2002, the VAT Audit
is applicable when the
turnover of the dealer is
more than Rs 1 crore]

Issuing of
instructions

Consequences/penalt
y on failing to furnish
audit report

The commissioner does


not issue instructions and
clarifications
regarding
form, maintenance and
issue of tax invoice, sale
invoice
and
purchase
invoice from time to time.
If any dealer liable to get
his accounts audited under
sub-section (1) fails to
furnish a copy of such

(As per Sikkim VAT Act,


2005)
Where in any particular year,
the gross turnover of a dealer
exceeds five lakh rupees or
such other amount as the
State Government may, by
a notification in the official
Gazette specify*, then such
dealer shall get his accounts,
in respect of that year
audited by an Accountant
within six months from the
end of that year and obtain a
report of such audit in the
prescribed form duly signed
and verified by such
accountant and setting forth
such particulars as may be
prescribed.
(The limit was raised to
Rupees fifteen lakh vide
notification
no.
116/IT&CT/Fin/2005 dated
22/09/2005 and further
raised to Rupees thirty
lakh vide notification no.
117/IT&CT/2007
dated
26/02/2007.)
The commissioner issue
instructions
and
clarifications regarding form,
maintenance and issue of tax
invoice, sale invoice and
purchase invoice from time
to time.
If any dealer liable to get his
accounts audited under subsection (1) fails to get his
accounts audited and furnish

report within the time as


aforesaid,
the
Commissioner may, after
giving
the
dealer
a
reasonable Opportunity of
being heard, impose on
him, in addition to any tax
payable, a sum by way of
penalty equal to one tenth
per cent of the total sales or
as the case may be,
purchases or a sum of one
lakh rupees, whichever is
less.

Audit Report Form


No.

Form No. 704

a true copy of the audit


report within the time
specified in sub-section (2),
the prescribed authority
shall, after giving the dealer
a reasonable opportunity of
being heard, impose on him,
in addition to any tax
payable, a sum by way of
penalty equal to one percent
of the turnover as it may
determine to the best of its
judgement in respect of the
said period.
Form No. 32

Comparison in Assessment:
Maharashtra
Sikkim
The Commissioner may examine the return to Every such dealer as may be required so to do by

ascertain whether it is complete and selfconsistent. If the return is not complete or selfconsistent, the Commissioner may serve on the
dealer, within four months of date of filing of
the return, a defect notice in the prescribed
form. The said registered dealer shall correct
the defects and submit to the prescribed
authority a fresh, complete and selfconsistent return within one month of the
service of the defect notice

the prescribed authority, by notice served in the


manner prescribed and every registered dealer
shall furnish a true and complete return in
respect of all his transactions relating to sales,
purchases, receipts and dispatches of goods in a
quarter, on or before the end of the month
following the end of the quarter to the prescribed
authority in such form and in such manner as
may be prescribed.
Every registered dealer shall furnish to the
prescribed authority, on or before the due date, a
true and complete return in respect of every
financial year in the form and manner
prescribed.
In this sub-section, due date means(i) where the dealer is a company within the
meaning of the Companies Act , 1956 (Act I of
1956), the 30th day of November of the year
following the year to which such return
relate;
(ii) where the dealer is a person, other than
a company-

Where the return in respect of any period is


filed by a registered dealer by the prescribed
date and if the Commissioner considers it
necessary or expedient to ensure that return is
correct and complete and he thinks it necessary
to require the presence of the dealer or the
production of further documents, he shall serve
on such dealer, a notice requiring him on a date
and at a place specified therein, either to attend
and produce or cause to be produced all
documents on which such dealer relies in
support of his return or to produce such
documents or evidence as is specified in the
notice.

Every dealer required by section 16 to pay tax at


a fixed rate in lieu of the tax payable by him
shall file a quarterly abstract statement for each
completed quarter on or before the end of the
month following the end of the quarter to the
prescribed authority in such form and in such
manner as may be prescribed.
If a dealer required to furnish the return
undersub-section (1) or statement under subsection (4), fails to pay the amount of tax
payable according to the provisions of subsection (9), such a dealer shall be liable to pay
interest in respect of :(a) tax payable under sub-section (9), by him
according to the return or the quarterly abstract
statement or revised return, as the case may be;
or

(b) the tax payable for the period for which he


has failed to furnish returns under sub-section
(1) or quarterly abstract statement under subsection (4), at the rate of two per centum per
month of the amount due from the date the tax
so payable had become due to the date of its
payment.

Comparison in Non-Admissibility of Set off Negative List

Maharashtra
Sikkim
Motor spirits, as notified u/s. 41(4) unless it is Agricultural products , Animal products, Coal
resold or transferred to branch or agent outside (charcoal) , Frozen confectionery (curd) , Bio
the State Rule 54(b).
Fertilizers, Holow polyester fibre.
Crude oil described in Section 14 of the C.S.T. Cold storage plants and equipments including
Act, if it is used by refinery for refining. Rule refrigeration materials like polystyrene and
54(c).
polyurethane foam materials used in
refrigerators and cold storage equipments
If a dealer is principally engaged in job work Captive power plant used for generation of
or labour work and where only waste/scrap is electrical energy and its parts, components and
sold then no set off will be granted on accessories for repair and maintenance thereof.
consumables and capital assets. Rule 54(d).
Unit covered by package scheme of Incentives
under exemption scheme or deferment scheme
is not entitled for set off of tax paid on raw
materials as defined in Rule 80 [Rule 54(e)].
However, it can claim refund of tax paid on
such purchases, as per Rule 79.
Purchases used in erection of immovable
property other than plant and machinery. Rule
54 (h).

Purchases of Indian Made Foreign Liquor in


hands of dealer opting composition scheme
under sub-Section (2) of Section 42. Rule
54(i).
Purchases in hands of hotelier, which are
treated as capital assets and which do not
pertain to supply and sale of food/drinks. Rule
54(k).
Purchases of office equipment, furniture,
fixture and electrical installation till 7-9-2006,
(Not applicable if the dealer is engaged in the
business of leasing). Rule 54(l).

Webliography:
1. http://www.rushabhinfosoft.com/webpages/All%20India%20VAT/VAT2.
3.
4.
5.

ACT/SIKKIM.htm
https://taxadvisoryandlitigation.files.wordpress.com/2014/09/sikkim-vat-rules-2005.pdf
http://www.sikkimtax.gov.in/wp-content/uploads/2011/08/FORM32.pdf
http://www.sikkim.gov.in/stateportal/UsefulLinks/VAT_Rules.pdf
http://www.mahavat.gov.in/Mahavat/index.jsp