DVAT ACT 2004; CHAPTER II: IMPOSITION OF TAX; SECTION 3; IMPOSITION OF TAX: Rule: Nil, Form: Nil. (1) Subject to other provisions of this Act, every dealer who is – (a) registered under this Act; or (b) required to be registered under this Act; shall be liable to pay tax calculated in accordance with this Act, at the time and in the manner provided in this Act. (2) Every dealer shall be liable to pay tax at the rates specified in section 4 of this Act on every sale of goods effected by him – (a) while he is a registered dealer under this Act; or (b) on and from the day on which he was required to be registered under this Act.] (3) The amount of tax payable under this Act by a dealer, is the dealer’s net tax for the tax period calculated under section 11 of this Act. (4) The net tax of a dealer shall be paid within twenty one days of the conclusion of each calendar month. Explanation.- The obligation to pay the tax arises by virtue of this provision and is not dependent on furnishing a return, nor on the issue of a notice of assessment to the dealer.] (5) Tax shall be paid in the manner specified in section 36 of this Act. (6) Every dealer who has become liable to pay tax under this Act on the sale of goods shall continue to be so liable unless his taxable turnover during the preceding twelve months (and such further period as may be prescribed) has remained below the taxable quantum and on the expiry of the twelve months or such further period his liability to pay tax shall cease: PROVIDED that any dealer whose liability to pay tax under this Act ceases for any other reason may apply earlier for the cancellation of his registration, and on such cancellation, his liability to pay tax shall cease: PROVIDED FURTHER that a dealer shall remain liable to pay tax until the date on which his registration is cancelled. (7) Every dealer whose liability to pay tax under this Act has ceased or whose registration has been cancelled, shall, if his turnover calculated from the commencement of any year, including the year in which the registration has been cancelled, again exceeds the taxable quantum on any day within such year be liable to pay such tax on and from the date on which his turnover again exceeds the taxable quantum, on all sales effected by him on and after that day.
Posted on: Tue, 23 Sep 2014 04:00:00 +0000
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