what is composition scheme under mvat
The basic idea of introducing the scheme is to enable small business men in resale and retails business to carry business without maintaining detailed accounts, enabling easy calculation of tax payable by them. This saves them from rigors of regular scheme under MVAT law.Section 42(1) of Maharashtra Value Added Tax Act, 2002 (MVAT, 2002) empowers State Government to Notify Composition Scheme for dealers in State of Maharashtra who are engaged in business of resale and retail.his saves them from rigors of regular scheme under MVAT law. Section 42(1) of Maharashtra Value Added Tax Act, 2002 (MVAT, 2002) empowers State Government to Notify Composition Scheme for dealers in State of Maharashtra who are engaged in business of resale and retail.