A new composition
scheme has been notified under the Delhi VAT Act Vide Notification No. F.3(29)/Fin(Rev-I) 2015-2016/dsvi/93 dated
18.3.2016 with effect from 1.4.2016 for every registered dealer -
|
(i)
|
|
whose turnover
during the preceding year as well as expected turnover during current year
does not exceed Rs.50 lacs; and
|
|
(ii)
|
|
who is not making
any sales other than that of ready to eat foods and non-alcoholic beverages
including cooked food, snacks, sweets, savouries, juices, aerated drinks, tea
& coffee etc. and served in or catered indoors or outdoors by hotels,
restaurants, sweet-stalls, sweet shops, clubs, caterers & any other
eating houses.
|
Such dealer may elect
for the new composition scheme and pay tax @ 5% of the entire turnover. The
electing registered dealer shall comply with the conditions and restrictions
specified in this notification, such
as, -
|
(a)
|
|
He shall not be
eligible for making purchases from or procuring goods from or making sales to
or making supplies to any place outside Delhi;
|
|
(b)
|
|
He shall not be
eligible for making purchases from a person who is not registered under the
DVAT Act except in the case of goods specified in the First Schedule;
|
|
(c)
|
|
He shall not be
eligible to claim tax credit under section 9 of the Act;
|
|
(d)
|
|
He shall not
calculate his net tax under section 11 of the Act;
|
|
(e)
|
|
He shall not collect
any amount by way of tax under the Act;
|
|
(f)
|
|
He shall not be
entitled to issue 'Tax Invoices'.
|
A registered dealer,
who is paying tax under section 3 of the Act (as a normal dealer), can opt for
payment of tax under this scheme by filing an application in Form RH-01 within
a period of 30 days from the first day of the year with effect from which
composition is opted. For the year 2016-17, application for composition under
this Scheme could be filed up to 30th April 2016.
A dealer applying for
a fresh registration can also opt for this scheme by filing application in Form
RH 01 along with his registration application in Form DVAT 04.
As per second proviso
to Section 16(1) of the DVAT Act (inserted w.e.f. 1.4.2013), where a separate
composition scheme has been notified u/s 16(12), those dealers cannot elect for
general composition u/s 16(1) of 1%. Therefore, where any dealer, covered by
this notification, has already opted for composition scheme u/s 16(1) of the
Act, such dealer shall mandatorily withdraw from the composition scheme w.e.f.
1.4.2016 by filing application in Form DVAT-03 upto 30.4.2016. However, such
dealer can opt for the new composition scheme of 5% specified through this
notification.
No comments:
Post a Comment