State Act
40
Section 40. Adjustment of any payment.
The Maharashtra Value Added Tax Act, 2002.
Act no. 9 of 20052005In forceMaharashtra (State Act)
40. Adjustment of any payment.— Any payment made by a dealer or person in respect of any period towards 1[any amount due as per any order passed under the Act shall first be adjusted] except in so far as the recovery of the said amount or part thereof is stayed under sub-section (6) 2[or, as the case may be, sub-section (6C)] of section 26, against the interest payable by him on the date of payment in respect of the said period and thereafter towards the amounts due as a penalty, sum forfeited and fine. Any amount remaining unadjusted shall then be adjusted towards the tax payable in respect of that period.