The Victorian Civil and Administrative Tribunal (VCAT) on Monday upheld a Buloke Shire Council decision not to grant the event's organisers a permit to stage the event.

The council has long argued it could not issue a permit after documents – including insurance, security bonds, emergency contingency plans, and agreements with Liquor Licensing and Ambulance Victoria – were not supplied by organisers. 

VCAT dismissed the promoter's attempt to argue a technicality in regard to how the festival had been categorised in the planning permit.   

A Buloke Shire spokesperson said the tribunal had also considered a lack of consent to use the land from Parks Victoria.

"This finding means a Cultural Heritage Management Plan will be needed in line with council’s previous decision," the spokesperson said.

"The tribunal noted one could not be provided in time for the staging of this year’s event and that an urgent hearing would be futile.  

"The Maitreya Music and Arts Festival cannot go ahead on the forthcoming long weekend."

VCAT's decision is certain to disappoint business owners across the Buloke Shire and neighbouting Northern Grampians and Loddon shire, who were anticipating a more than $2.5 million injection into the local economy.

An online petition initiated by the Charlton business community attracted more than 2000 signatures in the days after council’s initial decision.

It called on council to reconsider its decision not to grant a permit.

The festival was scheduled for March 11-14.

Tickets for $300 were still being advertised on the festival website late this afternoon.

Full allocations of $150, $200 and $250 - belived to be more than 7000 in total - had sold out.

No announcement on ticket refunds has been forthcoming.

A Maitreya Festival Twitter account has not been used since last Friday at 5.09pm.

The most recent Tweet announced the winners of six free tickets and said less than 2500 tickets remained unsold.