Delhi VAT Act

Tripura government has decided to form a state level advisory committee to monitor implementation of the Value Added Tax (VAT) which was enforced in the state from April 1. "There may be counfusion or queries among the state's business commuinity as VAT is a new concept in the process of tax ...

DELHI VAT - CHAPTER I - PRELIMINARY 1. Short title, extent and commencement.- (1) This Act may be called the Delhi Value Added Tax Act, 2004. (2) It extends to the whole of the National Capital Territory of Delhi. (3) It shall come into force on such date as the Government may, ...

DELHI VAT - CHAPTER II - IMPOSITION OF TAX 3. Imposition of tax. - (1) Subject to other provisions of this Act, every dealer who is - (a) Registered under this Act; or (b)required to be registered under this Act; shall be liable to pay tax calculated in accordance with this Act, at the ...

DELHI VAT - CHAPTER III - SPECIAL REGIMES 13.Priority.- Where a provision in this Chapter is inconsistent with a provision in Chapter II, the provision in this Chapter shall, to the extent of the inconsistency, prevail. 14.Treatment of stock brought forward during transition.- (1) Within a period of four months of ...

DELHI VAT - CHAPTER IV - REGISTRATION AND SECURITY 18.Mandatory and voluntary registration.- (1) Every dealer is required to apply for registration under this Act if - (a)the dealer's turnover in the year preceding the commencement of this Act exceeded the taxable quantum; or (b)the dealer's turnover in the current ...

DELHI VAT - CHAPTER V - RETURNS 26.Periodical payment of tax and furnishing of returns.- (1) Every registered dealer who is liable to pay tax under this Act shall furnish to the Commissioner such returns for each tax period and by such dates as may be prescribed and in the prescribed ...

DELHI VAT - CHAPTER VI - ASSESSMENT AND PAYMENT OF TAX, INTEREST AND PENALTIES AND MAKING REFUNDS 30. Assessment of tax, interest or penalty.- No claim may be made by the Commissioner for the payment by a person of an amount of tax, interest or penalty or other amount ...

DELHI VAT - CHAPTER VII - RECOVERY OF TAX, INTEREST AND PENALTIES 43.Recovery of tax.- (1) The amount of any tax, interest, penalty or other amount due under this Act shall be paid in the manner specified in section 36 of this Act and a notice of assessment served on the ...

DELHI VAT - CHAPTER VIII - ACCOUNTS AND RECORDS 48. Records and accounts.- (1) Every - (a) Dealer; (b)Person on whom a notice has been served to furnish returns under section 27 of this Act; shall prepare and retain sufficient records to allow the Commissioner to readily ascertain the amount of tax ...

DELHI VAT - CHAPTER IX - LIABILITY IN SPECIAL CASES 52. Liability in case of transfer of business.- (1) Where a dealer liable to pay tax under this Act transfers his business in whole or in part, by sale, gift, lease, leave or licence, hire or in any other manner whatsoever, ...