Mumbai, Mar 31: Maharashtra government today said it would implement Value Added Tax regime only after receiving presidential assent.
The presidential sanction is awaited for the Maharashtra Value Added Sales Tax Act, 2002, Finance Minister Jayant Patil said while making a statement in the state assembly.
“Once the presidential assent is received, which is a matter of few days, a notification will be issued and VAT will be implemented,” Patil said.
Both the Houses of the state legislature had last week passed the Maharashtra Value Added Sales Tax Act, 2002.
The Centre has already given an administrative approval to the state's draft bill in his regard on March 11, 2003, Patil informed.
The finance minister exuded confidence that following the Centre's administrative clearance and both Houses of the state legislature passing the bill, there would not be any hurdle in obtaining the presidential assent.
Bureau Report
