Amendments in the Sixth Schedule of Delhi Value Added Tax Act, 2004. - F.3(16)/Fin(Rev-I)/2011-12/DSIII/278 - 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(16)/Fin(Rev-I)/2011-12/DSIII/278

Dated : 26.03.2012

NOTIFICATION

No.F.3(16)/Fin(Rev-I)/2011-12 – Whereas the Lt. Governor of the National Capital Territory of Delhi is of the opinion that it is expedient in the interest of the general public so to do.

Now, therefore, in exercise of the powers conferred by section 103 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 amendments in the Sixth Schedule appended to the said Act, namely:-

AMENDMENT

            In the Delhi Value Added Tax Act, 2004 (Delhi Act 03 of 2005), in the Sixth Schedule, after entry at sl. no. 9, the following entry shall be added, namely:-

“10.   Kiran Nadar Museum of Art (KNMA), 145, DLF South Court Mall, Saket, New Delhi-110017 for purchase of ‘art works’ in Delhi, subject to following conditions:

(i)      Refund on local purchases of KNMA shall be so restricted as to have the impact of levy of 1% VAT on these purchases.

(ii)     The art work shall be accessible to the general public at large.

(iii)    If KNMA disposes of any of its art works purchased locally, it shall do so only after reimbursement to the Department, of the refund amount received in respect of the purchase of the specific art works, subject to compliance of the provisions of the Delhi Value Added Tax Act, 2004 and Delhi Value Added Tax Rules, 2005. KNMA shall file an Annual return indicating retention of art works which contains the opening inventory as on 1^st April of the financial year, purchases made in the financial year, sales made in the financial year (if any) and the closing inventory as on 31^st March of the financial year. Such return shall be filed within 75 days of the close of the financial year.

(iv)    At the time of claiming refund, KNMA shall submit a Certificate to the Department, related to the purchases for the period of refund, in the following format:

CERTIFICATE

            Certified that the goods covered by invoice(s) / bill(s) / cash memo(s) mentioned below which were purchased by the Kiran Nadar Museum of Arts, Delhi, during the period from ______ to _____ have not been sold and will not be sold AND have been and will be used for display in the museum for general public:

DESCRIPTION OF GOODS PURCHASED

S. No.	Name & TIN of the supplying dealer	Invoice(s)/Bills(s)/Cash memo(s) No. & Date	Description of goods purchased (along with a photo of the goods)	Amount	VAT paid (Rs.)	Total Bill amount (Rs.)

 

Total amount (Rs.) _____________

Total VAT (Rs.) _______________

(                                          )

                                                                        Signature of the Director / Authorised Signatory of KNMA

Date:                                           ”

This notification shall be deemed to have come into force with immediate effect.

                                                                           By order and in the name of the Lt. Governor of the National Capital Territory of Delhi

 (S.K. Kamra)

Dy. Secretary III (Finance)