DEMO|

Maharashtra Value Added Tax Rules, 2005
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84. Manner of determination of net present value for the purposes of sub-section (2) of Section 94

For the purposes of sub-section(2) of Section 94, the amount equal to the net present value to be paid in lieu of the deferred tax, shall be calculated in accordance with the Table and the Notes given below:-

T A B L E

Serial No. Period in months between the date of actual payment and the extended date of payment Percentage Serial No. Period in months between the date of actual payment and the extended date of payment Percentage
(1) (2) (3) (1) (2) (3)
1 1 99.1121 51 51 63.4549
2 2 98.2321 52 52 62.8915
3 3 97.3599 53 53 62.3331
4 4 96.4955 54 54 61.7797
5 5 95.6387 55 55 61.2311
6 6 94.7896 56 56 60.6875
7 7 93.9480 57 57 60.1486
8 8 93.1138 58 58 59.6146
9 9 92.2871 59 59 59.0853
10 10 91.4677 60 60 58.5607
11 11 90.6556 61 61 58.0407
12 12 89.8506 62 62 57.5254
13 13 89.0529 63 63 57.0146
14 14 88.2622 64 64 56.5084
15 15 87.4785 65 65 56.0067
16 16 86.7018 66 66 55.5094
17 17 85.9320 67 67 55.0166
18 18 85.1691 68 68 54.5281
19 19 84.4129 69 69 54.0439
20 20 83.6634 70 70 53.5641
21 21 82.9205 71 71 53.0885
22 22 82.1843 72 72 52.6171
23 23 81.4546 73 73 52.1500
24 24 80.7314 74 74 51.6869
25 25 80.0146 75 75 51.2280
26 26 79.3042 76 76 50.7732
27 27 78.6000 77 77 50.3224
28 28 77.9022 78 78 49.8756
29 29 77.2105 79 79 49.4327
30 30 76.5249 80 80 48.9938
31 31 75.8455 81 81 48.5588
32 32 75.1721 82 82 48.1277
33 33 74.5046 83 83 47.7004
34 34 73.8431 84 84 47.2769
35 35 73.1875 85 85 46.8571
36 36 72.5377 86 86 46.4411
37 37 71.8936 87 87 46.0287
38 38 71.2553 88 88 45.6200
39 39 70.6226 89 89 45.2150
40 40 69.9956 90 90 44.8135
41 41 69.3741 91 91 44.4156
42 42 68.7582 92 92 44.0213
43 43 68.1477 93 93 43.6304
44 44 67.5426 94 94 43.2430
45 45 66.9429 95 95 42.8591
46 46 66.3485 96 96 42.4786
47 47 65.7594 97 97 42.1014
48 48 65.1756 98 98 41.7276
49 49 64.5969 99 99 41.3571
50 50 64.0234 100 100 40.9899
Serial No. Period in months between the date of actual payment and the extended date of payment Percentage Serial No. Period in months between the date of actual payment and the extended date of payment Percentage
(1) (2) (3) (1) (2) (3)
                 
101 101 40.6260 151 151 26.0101
102 102 40.2652 152 152 25.7792
103 103 39.9077 153 153 25.5503
104 104 39.5534 154 154 25.3234
105 105 39.2022 155 155 25.0986
106 106 38.8542 156 156 24.8757
107 107 38.5092 157 157 24.6549
108 108 38.1673 158 158 24.4360
109 109 37.8284 159 159 24.2190
110 110 37.4925 160 160 24.0040
111 111 37.1596 161 161 23.7908
112 112 36.8297 162 162 23.5796
113 113 36.5027 163 163 23.3702
114 114 36.1786 164 164 23.1627
115 115 35.8574 165 165 22.9571
116 116 35.5390 166 166 22.7533
117 117 35.2235 167 167 22.5512
118 118 34.9107 168 168 22.3510
119 119 34.6007 169 169 22.1526
120 120 34.2935 170 170 21.9559
121 121 33.9890 171 171 21.7609
122 122 33.6873 172 172 21.5677
123 123 33.3882 173 173 21.3762
124 124 33.0917 174 174 21.1864
125 125 32.7979 175 175 20.9983
126 126 32.5067 176 176 20.8119
127 127 32.2181 177 177 20.6271
128 128 31.9320 178 178 20.4439
129 129 31.6485 179 179 20.2624
130 130 31.3675 180 180 20.0825
131 131 31.0890 181 181 19.9042
132 132 30.8130 182 182 19.7275
133 133 30.5394 183 183 19.5523
134 134 30.2682 184 184 19.3787
135 135 29.9995 185 185 19.2067
136 136 29.7331 186 186 19.0361
137 137 29.4691 187 187 18.8671
138 138 29.2075 188 188 18.6996
139 139 28.9481 189 189 18.5336
140 140 28.6911 190 190 18.3690
141 141 28.4364 191 191 18.2059
142 142 28.1839 192 192 18.0443
143 143 27.9337 193 193 17.8841
144 144 27.6856 194 194 17.7253
145 145 27.4398 195 195 17.5679
146 146 27.1962 196 196 17.4119
147 147 26.9547 197 197 17.2573
148 148 26.7154 198 198 17.1041
149 149 26.4782 199 199 16.9522
150 150 26.2431 200 200 16.8017
TABLE-Contd.
Serial No. Period in months between the date of actual payment and the extended date of payment Percentage Serial No. Period in months between the date of actual payment and the extended date of payment Percentage
201 201 16.6525 251 251 10.6615
202 202 16.5047 252 252 10.5669
203 203 16.3581 253 253 10.4730
204 204 16.2129 254 254 10.3800
205 205 16.0690 255 255 10.2879
206 206 15.9263 256 256 10.1965
207 207 15.7849 257 257 10.1060
208 208 15.6447 258 258 10.0163
209 209 15.5058 259 259 9.9273
210 210 15.3681 260 260 9.8392
211 211 15.2317 261 261 9.7518
212 212 15.0965 262 262 9.6653
213 213 14.9624 263 263 9.5794
214 214 14.8296 264 264 9.4944
215 215 14.6979 265 265 9.4101
216 216 14.5674 266 266 9.3265
217 217 14.4381 267 267 9.2437
218 218 14.3099 268 268 9.1617
219 219 14.1828 269 269 9.0803
220 220 14.0569 270 270 8.9997
221 221 13.9321 271 271 8.9198
222 222 13.8084 272 272 8.8406
223 223 13.6858 273 273 8.7621
224 224 13.5643 274 274 8.6843
225 225 13.4438 275 275 8.6072
226 226 13.3245 276 276 8.5308
227 227 13.2062 277 277 8.4550
228 228 13.0889 278 278 8.3800
229 229 12.9727 279 279 8.3055
230 230 12.8575 280 280 8.2318
231 231 12.7433 281 281 8.1587
232 232 12.6302 282 282 8.0863
233 233 12.5181 283 283 8.0145
234 234 12.4069 284 284 7.9433
235 235 12.2968 285 285 7.8728
236 236 12.1876 286 286 7.8029
237 237 12.0794 287 287 7.7336
238 238 11.9721 288 288 7.6649
239 239 11.8658 289 289 7.5969
240 240 11.7605 290 290 7.5294
241 241 11.6560 291 291 7.4626
242 242 11.5526 292 292 7.3963
243 243 11.4500 293 293 7.3307
244 244 11.3483 294 294 7.2656
245 245 11.2476 295 295 7.2011
246 246 11.1477 296 296 7.1371
247 247 11.0487 297 297 7.0738
248 248 10.9506 298 298 7.0110
249 249 10.8534 299 299 6.9487
250 250 10.7570 300 300 6.8870

TABLE-Contd.
Serial No. Period in months between the date of actual payment and the extended date of payment Percentage
1 2 3
301 301 6.8259
302 302 6.7653
303 303 6.7052
304 304 6.6457
305 305 6.5866
306 306 6.5282
307 307 6.4702
308 308 6.4128
309 309 6.3558
310 310 6.2994
311 311 6.2435
312 312 6.1880
313 313 6.1331
314 314 6.0786
315 315 6.0247
316 316 5.9712
317 317 5.9181
318 318 5.8656
319 319 5.8135
320 320 5.7619
321 321 5.7107
322 322 5.6600
323 323 5.6098
324 324 5.5600
325 325 5.5106

Note – (1) The period in months, between the date of actual payment and the extended date of payment shall be the aggregate of, —

(a) the number of completed months contained in such period, and

(b) the number of obtained by dividing by thirty the sum of the number of days from the date of actual payment to the end of the month in which the payment is made and the number of days from the first day of the month in which the extended date of payment falls to date immediately preceding the extended date of payment:

Provided that, the number obtained under clause (b) shall be rounded off to the nearest integer:

Provided further that, if such number either contains or is a fraction, which is half, then the nearest integer of such fraction shall be deemed to be one.

Note – (2) The net present value of the amount to be paid in lieu of deferred tax, shall be such percentage of deferred tax mentioned in column (3) of the Table for the corresponding period (as ascertained under Note (1) above) as respectively stated against it in column (2) thereof.