Section 42 provides for Composition Schemes for various classes of dealers, as may be notified by the State Government from time-to-time. The dealers opting for such composition schemes shall pay tax at such rates, with such conditions, as may be prescribed in the scheme. Accordingly, the Government of Maharashtra has notified different types of composition schemes for following classes of dealers:
(i) Retailers (ii) Restaurants, Clubs, Hotels and Caterers (iii) Bakers (iv) Dealers in 2nd Hand Motor Vehicles (v) Works contractors (vi builders & developers (vii) Dealers, who are in the business of giving on hire (leasing) of mandap, shamiana, tarpaulins, etc.
It may be noted the Composition Scheme for Retailers has been redesigned w.e.f. 1st October, 2014. (Refer Trade Circular 17T of 2014 dated 20th September, 2014).
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