Amendment status not verified — confirm the current text below against the official source.
(1) Every dealer, who isffigis&d undkthis ~e~ulation or iquired to be registered tax. under this Regulation, shall be liable to pay ta~calculated in accordance with section 11. .. . . . -8- pmKzir - . DATED 1 8 ~ AUGUST, 2005. . ~- . ~ . ', a . (2) The tax calculated~under sub-section (I) shall be payable on every sale of goods , . 'effected by a dealer- (a) on and from the day on which the dealer was required to be registered under this Regulation; or , , (b) during the period he is registered as a dealer under this Regulation. . . (3) The liability to pay tax shall be on the sales effected after a.dealer exceeds the taxable quantunl. (4) The net tax shall be paid by a dealer within twenty-eight days from t h e k t day of his tax period. '(5) Tax shall be paid in the manner specified in section 36. (@Every dealer, who becbmes liable to,pay tax under this ~egulation oh the sale of ' goods, shall continue to be so liable unl&s his taxable turnover during any preceding bnsecutive twelve months or s u ~ h further period as may be prescribed, has remain+below the taxablequantum and on the expiry ofsuch twelve monthsor further period his liabilityto pay tax shall ceaie: Provided that any dealer, whose liability to pay tax under this Regulation ceases for any other reason, may apply for the cancellation of his certificate of registration on or after the date on which his liability to pay tax ceases, and on such cancellation, his liability to pay tax shall cease: Provided krther that adealer shall remaip liable to pay tax until the date on which his cdrtificate of registration is cancelled. , (7) Every dealer,whose liability to pay tax under this Regulation has ceased or whose ' certificate of ~egistrati~n hw been cancelled, shall, if his turnover calculated from the cowmencement of any year (including the year in which the registration has been cimcelled), at any subsequent day exceeds the taxable quantum within such year, be liable to pay such tax on and from the date on which his h o v e r subsequenily exceeds the taxable quantum, on all sales effected by him on and after that day. (8) Where it is found that any person registered i s a dealer ought not to have been so registered, thennotwithstanding anything contained in this Regulation, such person shall be liable to pay tax for'the period during which he was so registered. (9) If any person who transporls goods or holds goods in custody for delivery to, or on behalf of any person, on being required by the Commissioner- I (a) to furnish any hfosmation in his possession in respect of'the goods; or ' (b) to permit inspection thereof, fails to furnish such information or permit such inspection, then, without prejudice to any othef action whichmay be taken agalnst such person, under this Regulation or any other law for the time being in force, a presumption may be raised that the goods in respect of which he has failed to f h i s h such information or permit such inspection, are owned by him and are held by him for sale in Daman and Diu and the provisions ofthis Regulation shall apply accordingly. &pIanarion.-For the removal of doubts ii is hereby declared that the tax levied , ' under this section shall apply to every- . . . (a) sale (including a sale by way ofdnstalment or hire- purchase) ofgoods, made on and after the date of commencement ofthis Regulation; 1 (b) sale by way of the transfer of a right to use goods, to the extent that the right to use goods is exercised after the date of commencement of this Regulation. Rates of tax. Determination oftaxable iumovs. Sale ofccrtsin goods exempt from levy of lax: - 9 - SERIES - I No. : 05 DATED lgTH AUGUST, 2005. -- .- -. -