Value added tax amendments tighten limitation periods, validate digital signatures and preserve transitional application of prior law. The amendments modify definitions and procedural timelines, replacing a definitional inclusion with exclusion, shortening specified time limits to the next financial year, and validating digitally signed returns under the Information Technology Act as equivalent to signed returns under the VAT law; they also insert retrospective deeming provisions and a transitional clause preserving the repealed Act and related instruments for matters connected with levy, assessment, credit, exemptions, penalties and other tax processes relating to periods ending before the statutory cut-off.
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Provisions expressly mentioned in the judgment/order text.
Value added tax amendments tighten limitation periods, validate digital signatures and preserve transitional application of prior law.
The amendments modify definitions and procedural timelines, replacing a definitional inclusion with exclusion, shortening specified time limits to the next financial year, and validating digitally signed returns under the Information Technology Act as equivalent to signed returns under the VAT law; they also insert retrospective deeming provisions and a transitional clause preserving the repealed Act and related instruments for matters connected with levy, assessment, credit, exemptions, penalties and other tax processes relating to periods ending before the statutory cut-off.
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