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<h1>VAT Registration Cancellation: Pay Tax on Goods Held, Choose Higher of Market Value or Previously Claimed Credit</h1> Every person whose VAT registration is canceled under the Delhi Value Added Tax Act, 2004, must pay an amount for all goods held at the time of cancellation. This amount is the higher of the tax payable if the goods were sold at fair market value or the tax credit previously claimed. Dealers accounting for turnover based on amounts received and paid must include in their final return any amounts not yet received from sales or not yet paid for purchases made while registered.