Regarding Amendments in the Delhi Value Added Tax Rules, 2005 - No.F.3(12)/Fin(Rev-I)/2015-2016/dsvi/650 - Delhi Value Added Tax

(TO BE PUBLISHED IN PART IV OF THE DELHI GAZETTE EXTRAORDINARY)

GOVERNMENT OF NATIONAL CAPITAL TERRITORY OF DELHI

FINANCE (REVENUE-1) DEPARTMENT

DELHI SACHIVALAYA, I.P. ESTATE: NEW DELHI-110 002

No.F.3(12)/Fin(Rev-I)/2015-2016/dsvi/650

Dated: 12/8/2015

NOTIFICATION

No..F.3(12)/Fin(Rev-I)/2015-2016.-  In exercise of the powers conferred by section 102 of the Delhi Value Added Tax Act, 2004 (Delhi Act 3 of 2005),  the Lt. Governor of the National, Capital Territory of Delhi, hereby, makes the following rules further to amend the Delhi Value Added Tax Rules, 2005, namely :-

RULES

1.   Short title and commencement.- (1) These rules may be called the Delhi Value Added Tax (Amendment) Rules, 2015.

     (2) They shal I come into force on the date of their publication in the Delhi Gazette.

2.  Amendment of rule 6A.- In the Delhi Value Added Tax Rules, 2005 (hereinafter referred to as the principal Rules), in rule 6A, for sub-rule (3), the following sub-rule shall be substituted,  namely:-

"(3)  The provisions of sub-section (5) of section  10 of the Act relating to proportionate reduction of tax credit on purchases of goods sold at a price lower than the purchase price shall not apply to a case where in the ordinary course of business the goods are sold by a dealer at a loss or where the dealer receives a discount or incentive through a credit note issued by the selling dealer after issuance of tax invoice.".

3. Amendment of rule 7.- In the principal Rules, in rule 7, for sub-rule (1), the following sub-rule shall be substituted, namely :-

"(1) For the purposes of sub-section (6) of section 9 and sub-clause (ii) of clause (c) of sub-section 3 of section 10, the tax credit shall be reduced in the following manner:-

(a) in the case of goods specified in the Second Schedule, the tax credit shall be reduced by 100 percent; and

(b) in the case of goods other than those specified in the Second Schedule, the tax credit shall be reduced by [ 2/R  X  100 ]  percents where R is the rate of tax applicable as per section 4.".

4. Amendment of rule 7A.- In the principal Rules, in rule 7A, in the first proviso, for clauses (iv) to (vi), the following clauses shall be substituted, namely:-

“(iv)  sale price of goods taxable at the rate of 5 percent; and

(v) sale price of goods taxable at the rate of 12.5 percent or more, in order of increase in tax  rate:".

5. Amendment of rule 16.- In the principal Rules, in rule 16, the sub-rules (2) and (5) shall be omitted.

6. Amendment of rule 45.- In the principal Rules, in rule 45, for the clause (e), the following clause shall be substituted, namely:-

“  (e)  the amount of variation to the tax amount shown on the tax invoice, wherever an adjustment to tax credit is required as per the provisions of sub-sections (1) and (2) of section 8.".

7. Amendment of Forms.- In the principal Rules, in the Forms appended thereto, -

(i)  in form DVAT 01, for Part-B, the following shal1 be substituted, namely:-

 

By order and in the name of the Lt. Governor

of the National Capital Territory of Delhi,

(A.K. SINGH)

Dy. Secretary VI (Finance)