Amendment status not verified — confirm the current text below against the official source.
(1) Every person, whose certificate of registration has been cancelled, shall pay in respect of all goods held on the date of cancellation an aniount equal to the amount of- (a) the &. which would be payable in respect of those goods if the goods were sold at their fair market value on that date;.or (b) the tax credit previously claimed in respect of those goods, whichever is higher. (2) Where the dealer has specified in his books of account the turnover on ihe basis of amounts received q d amounts paid, he shall include in the furnover of his last return- (a) any amount not yet received in respect of sales made while he was registered as a dealer under this Regulation; and (b) any amount not yet paid in respect ofpurchasesmade while he was registered as a dealer under this Regulation.