Rule 7B - Adjustment of tax due to retrospective reduction of tax liability by virtue of the Delhi Value Added Tax (Second Amendment) Act, 2005 (Sec 4, 15 & 105(4))
Delhi Value Added Tax Rules, 2005
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Adjustment of tax liability requires recomputation and refund to purchaser before excess VAT can be adjusted in returns. Dealers who, due to retrospective changes under the Amendment Act, have reduced VAT liability must re-compute tax and adjust excess deposits in the first return after notification; adjustments are permitted only where the excess has been refunded to the purchaser and proof of that refund is submitted with the return.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Adjustment of tax liability requires recomputation and refund to purchaser before excess VAT can be adjusted in returns.
Dealers who, due to retrospective changes under the Amendment Act, have reduced VAT liability must re-compute tax and adjust excess deposits in the first return after notification; adjustments are permitted only where the excess has been refunded to the purchaser and proof of that refund is submitted with the return.
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