TMI BlogComposition scheme for specified dealers Rule 5X X X X Extracts X X X X X X X X Extracts X X X X ..... utside Delhi or selling or supplying goods to any place outside Delhi at any time during the year in which he opts to pay tax under this 10 [sub-section] or if he is registered 1 [ in Delhi ] under the Central Sales Tax Act, 1956 (74 of 1956). 11 [ Provided further that in case the Government has notified a composition scheme for a class of dealers under sub-section (12) of this Section, such dealers shall not have an option to pay tax under this sub-section.] (2) At the time of making application for registration under section 19 of this Act, the dealer covered under sub-section (1) shall be required to specify if he intends to pay tax under this section: Provided that once the dealer chooses to pay tax under ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in the rupee of the turnover of the dealer. (5) A dealer who elects to pay tax under this section shall - 7 [ 8 (a) not purchase goods from a person who is not registered under this Act; Provided that this restriction shall not apply for the purchase of goods from an unregistered dealer dealing exclusively in goods mentioned in the First Schedule ] (b) not compute his net tax under section 11 of this Act; (c) not be allowed to claim credit under section 9, section 14 and section 15 of this Act; (d) not be entitled to issue tax invoice; (e) not be allowed to collect any amount by way of tax under this Act; and (f) ] continue to retain tax in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... finished goods in such form as may be prescribed shall be furnished to the Commissioner at the time the person specifies his intention to pay tax under this section. (9) Subject to the other provisions of this section, where a registered dealer pays tax at the rates specified in section 4 of this Act, he may choose to pay tax under this section only from the beginning of the following year: Provided that such registered dealer shall be required to pay tax at the rates specified in section 4 of this Act on the trading stock, raw material, packaging material and finished goods held by him on the first day of the said following year. 1 [ (10) If the turnover of a dealer who elects to pay tax under this section exce ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... but, in such scheme, the net tax liability of the dealer opting to pay tax thereunder shall not exceed eight paise in the rupee of the turnover of the dealer. ] ---------------------------------- Notes:- 1. Inserted vide DVAT (Amendment) Act, 2005; No. F.14(6)/LA-2005/112, dated 28.03.2005 w.e.f. 01.04.2005. 2. Omitted vide DVAT (Second Amendment) Act, 2005; Notification No.F.14(29)/LA/2005/333, dated 16/11/05 , w.e.f. 16.11.2005. before it was read as:- exceed the taxable quantum under this Act, but . 3. Substituted vide DVAT (Amendment) Act, 2005; No. F.14(6)/LA-2005/112, dated 28.03.2005 w.e.f. 01.04.2005. before it was read as:- twenty five lakh 4. Substituted vide DVAT (Amendment) Act, 2005; ..... X X X X Extracts X X X X X X X X Extracts X X X X
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