[28A. Determination of tax liability as per fair market price.- During the course of any proceedings under the Act, if the Commissioner is of the opinion that any transaction entered into by any dealer for sales, price, which is below the prescribed fair market price for commodity for a prescribed class of dealers, so as to be liable, to pay tax less than the tax, which would have been otherwise become payable on such sales or purchases, then the Commissioner shall determine the tax liability as per the fair market price of such transaction while passing an order in the said proceedings.]
Section 28A: Determination of tax liability as per fair market price.
The Maharashtra Value Added Tax Act, 2002.State Act of Maharashtra · Act 9 of 2005
Where this provision sits
| Act | The Maharashtra Value Added Tax Act, 2002. |
|---|---|
| Section | 28A |
| Marginal note | Determination of tax liability as per fair market price. |
| Jurisdiction | State of Maharashtra |
| Status | In force as published by the source |
How this provision has been amended
Taken from the footnotes printed with the provision by the source. Where a footnote names the amending instrument, it is quoted as printed.
- inserted, Mah. 15 of 2016. Section 28A was inserted by Mah. 15 of 2016, s. 14, w.e.f. 1st April 2011.
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