Delhi Value Added Tax (Second Amendment) Act, 2015

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....bsp;AMENDMENT) ACT, 2015   (DELHI ACT 05 OF 2015) (As passed by the Legislative Assembly of the National Capital Territory of Delhi on the 30^th June, 2015) [10^th July.2015] An Act to further amend the Delhi Value Added Tax Act, 2004 (3 of 2005) BE it enacted by the Legislative Assembly of the National Capital Territory of Delhi in the Sixty-six  year of the Republic of India as follows:- 1.   Short title, extent and commencement- (i) This Act may be called the Delhi Value Added Tax (Second Amendment) Act, 2015 (ii) it extends to the whole of the  National Capital Territory of Delhi. (iii) It shall come into force on such date as the Government may be  notification in the of....

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....- (i)  for sub-section (1), the following sub-section shall be substituted, namely:- "(1) Subject to sub-sections (1) and   (2) of section 8, where any purchaser has been issued with a credit note or debit note in terms of section 51 of this Act or if he returns or rejects goods purchased, as a consequence of which the tax credit claimed by him in any tax period in respect of which the purchase of goods relates, becomes short or excess, he shall compensate such short or excess by adjusting the amount of the tax credit allowed to him in respect of the tax period in which the credit note or debit note has been issued or goods are returned. Explanation : While issuance of a credit note of a post sale d....

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....f penalty, a sum equal to two hundred rupees for every day of default subject to a maximum of twenty five thousand rupees."; (iii)  in sub-section  (9), for the words "five hundred", the words "two hundred" shall be substituted; (iv)  in sub-section  (16), for clause  (b), the following   clauses shall be substituted, namely:- "(b) having issued a tax invoice or retail invoice, has failed to account it correctly in his, books of account; or (c) failed to issue a tax invoice or retail invoice as required under the provisions of section 50 of this Act;" and (v)  in sub-section (20), the explanation shall be omitted. 9.   Amendment of section 89.-....