Amendment status not verified — confirm the current text below against the official source.
[Subject to the provisions of this Act and the rules made thereunder, the authorities empowered to assess, re-assess, collect and enforce payment of tax under the Uttarakhand Value Added Tax Act, 2005 (Act No. 27 of 2005) (as amended) shall assess, re-assess, collect and enforce payment of tax including penalty payable under this Act as if it was a tax or penalty payable under the said Act, and for this purpose they may exercise all or any of the powers they have under the said Act and the rules made thereunder and the provisions of the said Act of 2005 (as amended) including the provisions relating to the returns, payment and recovery of tax, liability to tax of dissolved firm and transferee, composition of tax liability, realization of tax by dealers, assessment, re-assessment appeal, revision, rectification, assessment of reconstituted or new firms and change of partnership, recovery from third part, check post and barriers, maintenance of accounts, power to order production of accounts and powers of entry and inspection, power to seize the good, offences and penalties, compositions of offences, liability on issuing false certificate, refund of tax, certain information to be confidential, making transfer to defraud void, charging and giving interests, objection to jurisdiction, indemnity, bar to certain proceedings, offences by companies, determination of disputed question, power of remission of arrears and granting installments and facility for sick industrial units shall, mutatis mutandis, apply.]1 Utilization of the proceeds of the levy under this Act 14- (1) The proceeds of the levy under this Act shall be appropriated to the Fund and shall be utilized exclusively for the development or facilitating the trade, commerce and industry in the State of Uttarakhand which shall include the following:- (a) construction, development and maintenance of roads and bridges for linking the market and industrial areas; (b) providing finance, aids, grants and subsidies to financial, industrial and commercial units; (c) creating infrastructure for supply of electricity and water to industries, marketing and other commercial complexes; (d) creation, development and maintenance of other infra- structure for the furtherance of trade, commerce and industry in general; (e) providing finance, aids, grants and subsidies fix creating, developing and maintaining pollution free environment in the concerned areas; (f) any other purpose connected with the development of trade, commerce and industry or. for facilities relating thereto which the State Government may specify by notification; (g) providing finance, aids, grants and subsidies to local bodies and government agencies for the purposes specified in clauses (a), (c), (d), (e) and (f); (2) The entry tax levied and collected under this Act shall be credited to the Uttarakhand Trade Development Fund and shall exclusively be used for facilitating trade, commerce and industry. The amount realized as entry tax shall not be used for the purposes other than those specified in sub-section (1): [Provided that the tax so levied from any local area shall be utilized to provide facility in the same local area.]2