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The Delhi Value Added Tax (2nd Amendment) Bill 2015 - (As passed by the Legislative Assembly of the National Capital Territory of Delhi on 30th June 2015)

Dated:- 13-7-2015 - BILL NO. 08 OF 2015 The Delhi Value Added Tax (2nd Amendment) Bill, 2015 (As passed by the Legislative Assembly of the National Capital Territory of Delhi on 30th June, 2015) BILL NO. 08 OF 2015 THE DELHI VALUE ADDED TAX (2nd AMENDMENT) BILL, 2015 A BILL 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-sixth year of the Republic of India as follows:- 1. Short tit .....

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g clause shall be substituted, namely:- (c) in respect of goods specified in the Fourth Schedule, at the rates specified therein against the description of goods : Provided that the rate of tax in respect of goods specified in the Fourth Schedule shall be higher than the rate of tax applicable under clause (e) of this sub-section but shall not be more than thirty paise in the rupee; . 3. Amendment of section 8- In the principal Act, in section 8,- (i) in sub-section (1), for clause (c), the foll .....

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endent of tax component and no adjustments in the output tax would be required to be made. . 4. Amendment of Section 10.-In the principal Act, in section 10,- 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 a .....

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been made, no adjustment for reduction of input tax credit would be required by the respective buying registered dealer. ; and in sub-section (5), for the starting word Where , the words and symbol Subject to sub-sections (1) and (2) of section 8 and conditions as may be prescribed, where shall be substituted. 5. Amendment of section 22.- In the principal Act, in section 22, sub-section (7) shall be omitted. 6. Amendment of section 38.- In the principal Act, in section 38, in sub-section (5), f .....

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ly:- (6) If a registered dealer fails to comply with the provisions of sub-section (2) of section 22 of this Act, he shall be liable to pay, by way of penalty, a sum equal to two hundred rupees for every day of default subject to a maximum of twenty five thousand rupees. ; in sub-section (9), for the words five hundred , the words two hundred shall be substituted; in sub-section (16), for clause (b), the following clauses shall be substituted, namely:- (b) having issued a tax invoice or retail i .....

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ly:- The Fourth Schedule (see section 4) S. No. Commodity Rate of Tax Petroleum Products other than liquid petroleum gas, piped natural gas, Compressed Natural Gas and Kerosene such as Naptha; Aviation Turbine Fuel; Spirit; Gasoline Furnace oil; Wax (except petroleum wax used for manufacture of candles); Mixture and combination of above products. Twenty paise in the rupee Liquor (Foreign and Indian Made Foreign Liquor). Twenty paise in the rupee Country Liquor Twenty paise in the rupee Narcotics .....

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National Capital Territory of Delhi on the 30th June, 2015. DELHI Dated: 30th June, 2015 (Ram Niwas Goel) Speaker, Legislative Assembly of the National Capital Territory of Delhi STATEMENT OF OBJECTS AND REASONS Amendment in section 4 is aimed to make enabling provisions in the Act for levy of VAT in respect of goods described in the Fourth Schedule at such rates as may be notified by the Government and specified against the description of goods enlisted therein instead of a flat rate of 20%. H .....

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