Wednesday, August 6, 2008

amendments to DVAT Rules

GOVERNMENT OF NCT OF DELHI FINANCE (T&E) DEPARTMENT


Subject: Amendments in the Delhi Value Added Tax Rules, 2005
Notification No. F.3(10)/Fin.(T&E)/2008-2009/JS/Fin/351

Date: 24 July 2008

Notification
Whereas, the Lt. Governor of the National Capital Territory of Delhi is of the opinion that it is expedient in the interest of general public so to do. Now, therefore, in exercise of the powers conferred by Section 102 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 rules to further amend the Delhi Value Added Tax Rules, 2005, namely:-
RULES
1. Short title and commencement- (1) These rules may be called the Delhi Value Added Tax (Amendment) Rules, 2008.
(2) They shall come into force with effect from 1st June, 2008.

2. Amendment of Rule 7.- In the Delhi Value Added Tax Rules, 2005 (hereinafter referred to as "the principal Rules"), in rule 7,-
(i) for sub-rule (1), the following shall be substituted, namely,- "(1) For the purposes of sub-section (6) of Section 9 and sub-section (3) of Section 10, the tax credit shall be reduced by the following prescribed percentages:
(a) in the case of goods specified in the Second Schedule -100 per cent
(b) in the case of goods specified in the Third Schedule -50 per cent
(c) in the case of goods specified in the Fourth Schedule -10 per cent
(d) in the case of any other goods specified in clause of sub-section (1) of Section 4 -16 per cent"

(ii) for the word and figure "3 per cent" occurring at the end of sub-rule (4) the word and figure "2 per cent" shall be substituted.

By Order and in the Name of the Lt. Governor of the National Capital Territory of Delhi,
(Ajay Kumar Garg)
Joint Secretary