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Goa Value Added Tax Deferment-cum-Net Present Value Compulsory Payment Scheme, 2005

Goa Value Added Tax Deferment-cum-Net Present Value Compulsory Payment Scheme, 2005

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Sections

1. Short title, application and commencement.

Section 1

2. Definitions.

Section 2

3. Scope of Scheme.

Section 3

4. Eligibility.

Section 4

5. Quantum of benefit.

Section 5

6. Discharge from deferred tax liability.

Section 6

7. Effect of non-payment of Net Present Value.

Section 7

8. Procedure for availing benefit of the Scheme.

Section 8

9. Restriction on issue of invoice and for claiming input tax credit on goods manufactured by industries covered under the Scheme.

Section 9

10. Statement of Restrictive Tax Invoice issued.

Section 10

11. Saving.

Section 11

12. Earlier Scheme.

Section 12

1. The decorticating, colouring, scenting, boiling, cutting, crushing or roasting of betelnuts;

Section 1

2. The blending of different varieting of teas;

Section 2

3. Preparing of patravalis and dronas from leaves;

Section 3

4. The treading of iron pipes including galvanized pipes;

Section 4

5. The roasting or grinding of coffee and/or chicory seeds;

Section 5

6. Cutting of paper from reels into reams;

Section 6

7. Conversion of milk into khoa;

Section 7

8. Dismantling of old motor vehicles and plant & machinery;

Section 8

9. Poultry farming/piggery;

Section 9

10. Making of garlands and bouquets from fresh flowers;

Section 10

11. The roasting or salting, colouring of grams, groundnuts, cashew kernels, cereals and pulses;

Section 11

12. Making of sweetment including peddas and item of farsan.

Section 12

1. Original

Section 1

2. Duplicate

Section 2

3. Triplicate

Section 3

4. Quadruplicate

Section 4

1. Registration No. (TIN)

Section 1

2. Full Name of Dealer and address

Section 2

3. Total Value of the trading stock, raw material and Packaging material held as on 1st April, 2005.

Section 3

4. Tax Credit claimed Rs. (total of tax borne from (3) above)

Section 4

5. Verification

Section 5

1. The statement has to be submitted within one month from 1st April, 2005.

Section 1

2. The statement has to be furnished by a registered dealer wishing to claim credit under sub-section (8) of section 9.

Section 9

3. The goods on which credit is being claimed should be physically held by the dealer on 1st April, 2005.

Section 3

4. The goods on which credit is being claimed should have been purchased on or after 1st April, 2004 from a dealer registered under Goa Sales Tax Act, 1964 and the dealer should have in his possession the invoices.

Section 4

5. The goods in the stock should have borne tax at first point of sale under Goa Sales Tax Act, 1964.

Section 5

6. The tax credit on the stock cannot be claimed:

Section 6

7. The dealer should claim the entire amount of credit to which he is entitled in a single statement.

Section 7

1. Registration No. (TIN)

Section 1

2. Full Name of Dealer and address

Section 2

3. Total Value of the trading stock, raw material and Packaging material held as on 1st April, 2005.

Section 3

4. Tax Credit claimed Rs. (total of tax borne from (3) above)

Section 4

5. Verification

Section 5

1. The statement has to be submitted within one month from 1st April, 2005.

Section 1

2. The statement has to be furnished by a registered dealer wishing to claim credit under sub-section (8) of section 9.

Section 9

3. The goods on which credit is being claimed should be physically held by the dealer on 1st April, 2005.

Section 3

4. The goods on which credit is being claimed should have been purchased on or after 1st April, 2004 from a dealer registered under Goa Sales Tax Act, 1964 and the dealer should have in his possession the invoices.

Section 4

5. The goods in the stock should have borne tax at first point of sale under Goa Sales Tax Act, 1964.

Section 5

6. The tax credit on the stock cannot be claimed:

Section 6

7. The dealer should claim the entire amount of credit to which he is entitled in a single statement.

Section 7