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of <h1>Understanding Section 11 of Delhi VAT Act 2004: Calculating Net Tax Payable and Adjustments Explained</h1> Section 11 of the Delhi Value Added Tax Act, 2004, outlines the calculation of net tax payable by a dealer for a tax period using the formula: Net Tax = O - I - C. Here, O represents the tax payable on taxable turnover, I is the tax credit entitled, and C is any amount carried forward from the previous period. If the net tax is negative, dealers can adjust it against tax payable under the Central Sales Tax Act, carry it forward to the next period, or claim a refund. Refund claims are processed as per sections 38 and 39 of the Act.
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