Provided, nonetheless, that when sale value for sale in Anybody transaction is down below Rs.100/-, the taxable man or woman might, except when demanded by a customer, refrain from issuing a sale bill or dollars memorandum as aforesaid but shall rather put together a consolidate sale Monthly bill or hard cash memorandum at the shut in the working day in respect of these types of sales by recording them separately as and when they are effected.
(2) Wherever any person liable to pay for tax or other sum payable below this Act has, over the pendency of any proceeding below this Act or after completion thereof, developed a demand on or parted with possession by any mode of transfer together with sale, mortgage loan, present or exchange of any of his assets in favour of any other individual along with the Commissioner is of your impression that this sort of cost or transfer gets to be void below sub-segment (1), then the Commissioner shall issue a recognize and hold enquiry and judge whether the charge or transfer became void less than sub-part (1). Â
(2) Notwithstanding something contained in sub-segment (1), where by an offence under this Act has been committed by a corporation and it is proved that the offence has been fully commited With all the consent or connivance of, or is attributable to any neglect to the Portion of any director, manager, secretary or other officer of the organization, these types of director, manager, secretary or other officer shall also be deemed to get guilty of that offence and shall be liable to get proceeded towards and punished appropriately.
(5) The Commissioner may perhaps carry out these inquiry as he deems healthy and could demand these types of proof and knowledge as he may possibly deem essential and once the inquiry, if any, and after contemplating the evidence and knowledge, if any, He's contented that the application for registration built underneath this section is if you want, he shall register the applicant and situation to him a certificate of registration while in the prescribed type: Â
(b) (i) any registration certificate issued underneath the Goa Sales Tax Act, 1964 (Act 4 of 1964), in as far as the legal responsibility to tax below sub-segment (one) of part three of this Act exists, be considered being the certificate of registration issued under this Act, and appropriately the dealer Keeping these kinds of registration certificate straight away before the appointed day, shall right up until the certificate is duly cancelled, be deemed to generally be a supplier liable to pay tax underneath this Act and to be considered a registered seller underneath this Act and all of the provisions of this Act will apply to him as they use to some supplier liable to pay tax underneath this Act.
(s) “manufacture†consists of any action that provides out a improve in an posting or articles on account of some system, treatment method, labour and ends in transformation into a new and different article so comprehended in professional parlance acquiring a definite title, character, use and includes extracting any merchandise but does not involve this kind of exercise of manufacture as may very well be notified;
ten. Enter Tax Credit history Exceeding Tax Legal responsibility.- (1) Subject matter into the provisions of sub-part (2), Should the input tax credit rating of a registered vendor, identified underneath part nine of the Act for your period of time exceeds the tax liability for that interval, the surplus credit score shall be set off towards any superb tax, penalty or interest beneath this Act or previously regulation.
500/- in addition an total equal to straightforward desire @ fifteen% per annum website or this kind of increased/decrease charge as the Government may notify occasionally around the tax payable to the return time period.
(iii) in respect of any taxable items beneath the Act acquired by him from One more registered seller for resale but supplied absent by way of no cost samples or gifts;
(two) For that purposes from the study, the Commissioner may perhaps, by normal or Distinctive see, need any dealer or class of sellers to furnish the names, addresses and such other particulars as he could come across needed relating to the folks and sellers who have acquired any products from or marketed any items to such vendor or class of sellers through any supplied time period. Â
(2) If anyone pays penalty less than sub-part (one) as well as the tax to which it relates is identified never to are actually because of and payable by the individual and/or is refunded, then a lot of in the penalty as relates to the level of the refund shall also be refunded to that human being and if the tax is identified to not have already been due or payable the penalty shall also be proportionately lowered.
(a) be permitted to say any input tax credit on buys and on stock held within the appointed working day or around the working day from which he is held liable to pay for tax under this Act or to the day on which his Registration Certification is built legitimate, as the case might be;
sixty two. Rounding off the Tax, and so on.- The quantity of tax, penalty, curiosity, composition money, great or almost every other sum payable, and the amount of set off or refund due beneath the provisions of this Act or procedures, shall be rounded off to the nearest rupee whenever a part of a rupee is fifty paise or even more and when this sort of section is fewer than fifty paise, it shall be dismissed: Â
Delivered which the curiosity calculable shall be on the stability of the amount remaining just after altering out of the refundable quantity any tax, penalty or other total thanks beneath this Act, for almost any yr by the person over the date from which these interest is calculable.