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TMI BlogAmendments by Delhi Value Added Tax (Second Amendment) Act, 2012 – Sections 2, 9, 10, 28, 36A, 38, 49, 50, 66, 70, 73, 82 and 86 .X X X X Extracts X X X X X X X X Extracts X X X X ..... is hereby published for general information:- THE DELHI VALUE ADDED TAX (SECOND AMENDMENT) ACT, 2012 (DELHI ACT 06 OF 2010) (As passed by the Legislative Assembly of the National Capital Territory of Delhi on the 6th June, 2012) [15th June, 2012] An Act to further amend the Delhi Value Added Tax Act, 2004 . BE it enacted by the Legislative Assembly of the National Capital Territory of Delhi in the Sixty-third year of the Republic of India as follows:- 1. Short title, extent and commencement (1) This Act may be called the Delhi Value Added Tax (Second Amendment) Act, 2012. (2) It extends to the whole of the National Capital Territory of Delhi. (3) It shall come into force on such date as the Government may, by notifi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ay of a sale, to a branch of the registered dealer or to a consignment agent; . 5. Amendment of section 28 In the principal Act, for section 28 the following shall be substituted, namely:- 28. If a person discovers a discrepancy in a return furnished by him for a tax period under this Act, he shall remove such discrepancy and furnish a revised return within the year following the year of such tax period: PROVIDED that if, as a result of the discrepancy, the person has paid less tax than was due under this Act, he shall, pay the tax owed and interest thereon: PROVIDED FURTHER that for the years 2008-09, 2009-10 and 2010-11, except for those returns pertaining to any tax period of 2010-11, which were scheduled to be furnished in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... series with distinct codes, either as prefix or suffix, for each place of business, in case the dealer has more than one place of business in Delhi or for each product in case he deals in more than one product or both; PROVIDED FURTHER that such numerical series may be granted by the Commissioner, in such manner and from such date as may be notified by him; , (b) in clause (e), for the words services provided, inclusive of amount of tax charged thereon , the words services provided and the amount of tax charged thereon indicated separately shall be substituted. 10. Amendment of section 66 In the principal Act, in section 66, in sub-section (2), in clause (a), for the word Additional , the word Special shall be substituted. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... by way of penalty, a sum of ten thousand rupees. ; and (ii) in sub-section (19), for the words the amount of tax payable on such goods , the words forty paisa in a rupee for the value of such goods shall be substituted. STATEMENT OF OBJECTS AND REASONS Amendment of section 2 of the Delhi Value Added Tax Act, 2004 is proposed to cut on the revenue losses on account of exemption of levy of Vat on increased price of diesel in June, 2011. Amendment of section 9 is proposed to provide for reduction of tax credit in case of interstate sales against C forms. Amendments in this section would necessitate slight modification of section 10 also for the sake of its conformation to related section 9. Amendment of section 28 is proposed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... fore any authority in proceedings. Amendment of section 86 is proposed for enhancement of penalty related with transporters to give it a deterrent effect and for a minor modification related to the amended section 49. The Bill seeks to achieve the aforesaid objective. New Delhi (SHEELA DIXIT) Dated: Chief Minister/Finance Minister FINANCIAL MEMORANDUM The Delhi Value Added Tax (Amendment) Bill 2012 does not involve any additional financial implications since no outgo on new posts is anticipated from the Consolidation Fund of the National Capital Territory of Delhi. MEMORANDUM REGARDING DELEGATED LEGISLATION The Delhi Value Added Tax (Amendment) Bill, 2012 does not make provision for the delegation of power in fa ..... X X X X Extracts X X X X X X X X Extracts X X X X
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