https://www.taxtmi.com/acts?id=2967 Section 105 applies VAT to sales and purchases made on or after the effective date, including instalment sales, hire purchase and transfers of a right to use goods, and limits input tax credit to purchases made or use-rights exercised on or after that date. Prepayments relating to later supplies must be included in turnover in the period when the sale occurs. Transitional provisions cap VAT liability for works contracts entered under the repealed sales tax regime so it does not exceed the liability under the repealed Act, with specified temporal and contractual exceptions. en-us Sat, 19 Jan 2008 22:45:54 +0530 Tue, 17 Jul 2012 11:55:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=2967 Section 105 applies VAT to sales and purchases made on or after the effective date, including instalment sales, hire purchase and transfers of a right to use goods, and limits input tax credit to purchases made or use-rights exercised on or after that date. Prepayments relating to later supplies must be included in turnover in the period when the sale occurs. Transitional provisions cap VAT liability for works contracts entered under the repealed sales tax regime so it does not exceed the liability under the repealed Act, with specified temporal and contractual exceptions. Act-Rules VAT - Delhi Sat, 19 Jan 2008 22:45:54 +0530 https://www.taxtmi.com/acts?id=2967