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TMI Blog2018 (5) TMI 1812X X X X Extracts X X X X X X X X Extracts X X X X ..... e Haryana Tax Tribunal (in short, "the Tribunal") in STA No.8 of 2014-15, claiming following substantial questions of law:- "A. What is the amount of deferred tax within the meaning of Section 61(2)(d)(iii) of the Haryana Value Added Tax Act, 2003 read with Rule 69 of Haryana Value Added Tax Rules, 2003? B. Whether the learned Tribunal failed to appreciate that amount of input tax paid by the assessee cannot be counted towards payment of 50% of deferred tax upfront under Section 61(2)(d)(iii) of the Haryana Value Added Tax Act, 2003?" 3. A few facts relevant for the decision of the controversy involved as narrated in the appeal may be noticed. The respondent assessee is doing business of manufacturing and sale of Sheet Metal componen ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ted by the learned counsel for the appellant revenue that the case is covered against the revenue by the decision of this Court in M/s Sonex Auto Industries Private Limited's case (supra). In the said case, the question was whether the tax deferred would be calculated as the amount of tax payable on the taxable turnover of goods manufactured by the unit without deducting the input tax paid by the unit on the goods used in the manufacture of the goods or after deducting the input tax. After examining the relevant statutory provisions and the case law on the point, it was concluded that in case the unit opts for payment of half of the deferred tax upfront alongwith the returns, the deferred tax would be calculated without deducting the amount ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r the HVAT Act for the remaining period and the remaining extent of benefit that was admissible under the HGST Act. The expression falling in Clause (iii) of Section 61(2) (d) is "pay half of the amount of the deferred tax upfront alongwith returns and on making payment in this manner, the tax due according to the returns shall be deemed to have been paid in full." A plain reading of the same shows that what is required to be paid by a unit opting for payment of 50% of deferred tax, is the payment of half of the amount of the deferred tax upfront.The provision nowhere provides that deferred tax would be calculated after computation of tax payable is determined according to the returns. It only provides that if half of the deferred tax is pa ..... X X X X Extracts X X X X X X X X Extracts X X X X
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