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TMI BlogDelhi Value Added Tax (Second Amendment) Act, 2015X X X X Extracts X X X X X X X X Extracts X X X X ..... F 2015) (As passed by the Legislative Assembly of the National Capital Territory of Delhi on the 30th June, 2015) [10th July.2015] An Act to further amend the Delhi Value Added Tax Act, 2004 (3 of 2005) BE it enacted by the Legislative Assembly of the National Capital Territory of Delhi in the Sixty-six year of the Republic of India as follows:- 1. Short title, extent and commencement- (i) This Act may be called the Delhi Value Added Tax (Second Amendment) Act, 2015 (ii) it extends to the whole of the National Capital Territory of Delhi. (iii) It shall come into force on such date as the Government may be notification in the official Gazette, appoint: Provided that different dates may be appointed for different provisions of thi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... en issued with a credit note or debit note in terms of section 51 of this Act or if he returns or rejects goods purchased, as a consequence of which the tax credit claimed by him in any tax period in respect of which the purchase of goods relates, becomes short or excess, he shall compensate such short or excess by adjusting the amount of the tax credit allowed to him in respect of the tax period in which the credit note or debit note has been issued or goods are returned. Explanation : While issuance of a credit note of a post sale discount or incentive by a selling dealer, where no adjustment to output tax, as per the provisions of sub-sections (1) and (2) of section 8 has been made, no adjustment for reduction of input tax credit woul ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or clause (b), the following clauses shall be substituted, namely:- "(b) having issued a tax invoice or retail invoice, has failed to account it correctly in his, books of account; or (c) failed to issue a tax invoice or retail invoice as required under the provisions of section 50 of this Act;" and (v) in sub-section (20), the explanation shall be omitted. 9. Amendment of section 89.- In the principal Act, in section 89, in sub-section (4), clause (c) shall be omitted. 10. Amendment of the Fourth Schedule.- In the principal Act, for the Fourth Schedule appended thereto, the following shall be substituted, namely:- The Fourth Schedule (see section 4) S. No. Commodity Rate of Tax 1 Petroleum Products other than li ..... X X X X Extracts X X X X X X X X Extracts X X X X
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