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TMI BlogDelhi Value Added Tax (Amendment) Act, 2013X X X X Extracts X X X X X X X X Extracts X X X X ..... (AMENDMENT) ACT, 2013 (DELHI ACT 05 OF 2013) (As passed by the Legislative Assembly of the National Capital Territory of Delhi on the 29 th August, 2013) [ 5 th September, 2013] 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-fourth 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 (Amendment) Act, 2013. (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 notification in the official Gazette, appoint. 2. Amendment of secti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... und of the amount remaining after application under sub-section (2)(a) at the end of a tax period of the same year and the Commissioner shall deal with the refund claim in the manner described in section 38 and section 39 of this Act . Explanations-1. Refund can be claimed at the end of a tax period only. 2. Excess tax credit should not be carried forward to the next year. 3. Refund of excess tax credit carried forward from previous years should be claimed in any of the remaining tax periods of year 2013-2014 but not later than the last tax period ending on 31.03.2014. 4. Excess tax credit remaining at the end of a tax period can either be claimed as refund or carried forward to next tax period of the same year. 5. Excess pay ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ant for any purpose of this Act ,: PROVIDED that the dealer maintaining computerised books of accounts using a software should be able to readily provide soft and/or hard copy of the records at the principal place of business as recorded in his certificate of registration, as and when required by the Commissioner. Explanation: The dealer may maintain and retain soft copy of the records as means of compliance with the requirement of this sub-section.". 7. Amendment of section 58A .- In the principal Act , in section 58A, for sub-section (1) , the following shall be substituted, namely:- (1) "if the Commissioner, having regard to. (a) the nature and complexity of the business of a dealer; or (b) the interest of the revenue; or ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e person in respect of a calendar month. Explanations-1 `Tax properly payable' includes the amount of tax assessed under section 32 of the ` Act '. 2. Due tax paid after the period specified in sub-section (4) of section 3 of the Act , is also a tax deficiency.". (ii) the second proviso of sub-section (2) shall he deleted. (iii) in sub-section (5), for the word `one' the word `five' and for the word `five' the word `ten' shall be substituted. (iv) in sub-section (6) for the word `hundred' the word `thousand' and for the word `five' the words "twenty five" shall be substituted. (v) for sub-section (9), the following shall be substituted, namely:- (9) "If a person required to furnish a return under Chapter V or to comply wi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... notice served on him by the Commissioner or by an accountant or a panel of accountants or any other professional or panel of professionals nominated by the Commissioner in this behalf under sub-section (I) of section 58A ; the person shall be liable to pay, by way of penalty, a sum of fifty thousand rupees or twenty per cent of the tax deficiency, if any, whichever is greater.". (vii) in sub-section (19), for the word 'forty', the word `twenty' shall be substituted. (viii) In sub-section (22), for the word `ten', the words `twenty five' shall be substituted. (ix) after sub-section (23), the following shall be inserted, namely.- "(24) Any person, who contravenes any of the provisions of this Act or any rules made thereunder for whic ..... X X X X Extracts X X X X X X X X Extracts X X X X
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