(1) (TO BE PUBLISHED IN PART IV OF THE DELHI GAZETTE- EXTRAORDINARY) GOVERNMENT OF NATIONAL CAPITAL TERRITORY OF DELHI FINANCE (TAXES & ESTABLISHMENT) DEPARTMENT DELHI SACHIVALAYA, I.P. ESTATE, NEW DELHI-110002 No.F.3(82)/Fin.(T&E)/2005-06/1599 kha Dated : 21st April 2006 NOTIFICATION No.F.3(82)/Fin.(T&E)/2005-06 Whereas the Lt. Governor of the National Capital Territory of Delhi is of the opinion that it is expedient in the interest of general public so to do. Now, therefore, in exercise of the powers conferred by sub-section (12) of section 16 of the Delhi Value Added Tax Act, 2004 (Delhi Act 3 of 2005), (hereinafter referred to as “the Act”), the Lt. Governor of the National Capital Territory of Delhi, subject to the conditions specified in column (3) in respect of the class or classes of dealers specified in column (1) of the Table below, and other general conditions as prescribed in this notification, hereby, provides for the composition of tax payable by the said dealers as specified in column (2) of the said Table, namely :- TABLE Eligible class or classes of dealers Composition Amount Conditions
(1) (2) (3) Every registered dealer engaged exclusively in trading of bullion.
0.1% of aggregate of sales of bullion made within Delhi.
(1) The dealer shall -
(a) not purchase goods from a person who is not registered under the Act;
(b) not be eligible to claim tax credit under section 9, 14 and 15 of the Act;
(c) not calculate his net tax under section 11 of the Act;
(d) not collect any amount by way of tax under the Act;
(e) not be entitled to issue ‘Tax Invoices’;
(f) continue to retain the original copies of all tax invoices and all retail invoices for all his purchases and copies of all retail invoices issued by him in respect of his sales as required under section 48 of the Act;
(2) The dealer applying for a fresh registration can opt for this scheme by filing an application in Form BU 01 appended to this notification along with his/their registration application in Form DVAT 04. A dealer who is paying tax 2 Delhi VAT Ready Reckoner Form DVAT 04. A dealer who is paying tax under section 3 of the Act, shall opt this scheme by filing an application in Form BU 01 appended to this notification within a period of thirty days
(i) from the first day of the year for which composition is opted.
(ii) from the day of coming into force of this notification in case the scheme is opted for the remaining period of the year 2006-07.
(3)(a) The dealer shall pay tax at the rates specified in section 4 of the Act on the opening stock of goods, held by him on the first day with effect from which the dealer opts to pay tax under this scheme, where such stock has been purchased within Delhi.
(b) The dealer, in view of (a) above, shall furnish, along with his application for opting the scheme, the proof of payment, in Form DVAT 20, of tax due as per the calculations reflected in Part B of the Form BU 01.
(4) A dealer who, having opted to pay tax under this scheme for a particular year, does not intend to pay tax under this scheme for the following year, shall, subject to the conditions contained in section 20 of the Act in so far as they are applicable and further subject to furnishing intimation in Form BU 02 appended to this notification within a period of thirty days from the first day of the said following year, be eligible for claiming credit of the tax paid under the Act on the opening stock held by him on the first day of the said following year. General conditions : (1) All the provisions of the Act and the rules made thereunder which are not contrary to this scheme shall apply to every dealer opting to pay tax under the scheme.
(2) The tax period for the dealers opting to pay tax under this scheme shall be a quarter unless otherwise prescribed by the Commissioner for a dealer or class of dealers.
(3) A dealer who has opted to pay tax under this scheme and has defaulted to furnish the returns for two consecutive tax periods by the prescribed due dates shall cease to remain a composition dealer with effect from the first day of the period immediately next to the latter tax period in respect of which the default has been committed and such dealer shall also, subject to the conditions contained in section 20 of the Act in so far as they are applicable and further subject to furnishing the intimation in Composition Scheme for Bullion Traders 3 Form BU 02 within seven days after the end of due date prescribed for filing of return for the latter tax period in respect of which the default has been committed, be eligible to claim credit of tax paid under this Act on the opening stock held by him in Delhi on the first day of the period immediately next to the latter tax period in respect of which the default has been committed.
(4) In case a dealer has opted for this scheme but has failed to comply with the conditions specified therein or who, at any later stage, is found not eligible for having opted the scheme, in that event all the provisions of the Act including the liability to pay tax under section 3 of the Act, along with interest due for delay, if any, shall apply mutatis mutandi as if the dealer has never opted for the composition scheme and the amount deposited by such dealer as the composition amount, if any, shall stand forfeited. This notification shall come into force with effect from the 1 st day of May, 2006. By order and in the name of the Lt. Governor of the National Capital Territory of Delhi, (Dr. Pooja Gupta) Dy. Secretary, Finance (T&E) No.F.3(82)/Fin.(T&E)/2005-06/1607 kha Dated : 21st April 2006 Copy forwarded for information and necessary action to :-
1. The Pr. Secretary (GAD), Govt. of NCT of Delhi with one spare copy for its publication in Delhi Gazette Part-IV (extraordinary) in today’s date.
2. The Secretary, Govt. of India, Ministry of Home Affairs, North Block, New Delhi
3. The Secretary, Govt. of India, Ministry of Finance, Deptt. of Revenue, Jeevan Deep Building, New Delhi
4. The Secretary to Finance Minister, GNCT of Delhi, Delhi Sachivalaya, I.P. Estate, New Delhi
5. The Pr. Secretary (Finance), GNCT of Delhi, Delhi Sachivalaya, I.P. Estate, New Delhi
6. The Commissioner, Value Added Tax, Bikri Kar Bhawan, I.P. Estate, New Delhi.
7. The Deputy Secretary (L&J), GNCT of Delhi, Delhi Sachivalaya, I.P. Estate, New Delhi.
8. The Registrar, Sales Tax Appellate Tribunal, Bikri Kar Bhawan, I.P. Estate, New Delhi.
9. VAT Officer (Policy), Department of Trade and Taxes, Govt. of NCT of Delhi, New Delhi
10. Guard File. (Dr. Pooja Gupta) Deputy Secretary, Finance (T&E) 4 Delhi VAT Ready Reckoner Department of Trade and Taxes Government of NCT of Delhi Form BU 01 [See notification under section 16(12)] (PART-A) Application Form for opting for Composition Scheme as notified exclusively for bullion traders by Government under sub-section (12) of section 16 Ward No.
1. TIN
2. Full Name of Applicant Dealer
3. Full Address of Dealer
4. Year for which composition scheme is sought* - * hereinafter referred to as “current year”
5. Turnover in the preceding year (Rs.)
6. Estimated Turnover in the current year (Rs.) Description* Tax Payable (Rs.)
(i) Trading Stock
(ii) Packaging Material
7. Tax Payable on opening Stock held on the first day with effect from which scheme is being opted Total (* Please complete Part B) Description
(i) Amount of tax paid* (Rs.)
8. Details of Tax paid calculated as per (7) above
(iii) Date of Deposit / / dd mm yyyy
(iii) Challan No. if any (* Please attach original challan / proof of deposit) Name and signature of applicant / authorized signatory
9. Verification I/We _______________________________________ hereby certify that the above named firm/company is exclusively dealing in business of trading of bullion and also hereby solemnly affirm and declare that the information given hereinabove is true and correct to the best of my/our knowledge and belief and nothing has been concealed therefrom. Signature of Authorised Signatory ____________________________________ Full Name (first name, middle, surname) ____________________________________ Designation ____________________________________ Place Date Day Month Year Composition Scheme for Bullion Traders 5 Department of Trade and Taxes Government of NCT of Delhi Form BU 01 [See notification under section 16(12)] (PART B) Details of the Stock held on the first day [i.e. on __________________ (date)] with effect from which the composition is sought
(i) Details of Trading Stock Details of the Trading Stock of Bullion Rate of tax Purchase Value (Rs.) Fair Market Value* (Rs.) Tax Payable (Rs.)** 1% (*As at opening day of the period for which composition is being opted) (**Carry to field 7(i) of Part A)
(ii) Details of Packaging Material Rate wise details of the Packaging Material Purchase Value (Rs.) Fair Market Value* (Rs.) Tax Payable (Rs.) A Goods taxable at 1% B Goods taxable at 4% C Goods taxable at 12.5% D Total** (*As at opening day of the period for which composition is being opted) (**Carry the tax payable to field 7(ii) of Part A) Name and signature of applicant / authorized signatory iii. Verification I/We __________________________________________ hereby solemnly affirm and declare that the information given hereinabove is true and correct to the best of my/our knowledge and belief and nothing has been concealed therefrom. Signature of Authorised Signatory ____________________________________ Full Name (first name, middle, surname) ____________________________________ Designation ____________________________________ Place Date Day Month Year 6 Delhi VAT Ready Reckoner Department of Trade and Taxes Government of NCT of Delhi Form BU 02 [See notification under section 16(12)] (PART-A) Intimation of withdrawal from Composition Scheme as notified exclusively for bullion traders by Government under sub-section (12) of section 16 Ward No.
1. TIN
2. Full Name of Applicant Dealer
3. Full Address of Dealer
4. Date with effect from which –
(i) withdrawal from composition scheme is sought or
(ii) ceased to be a composition dealer on account of nonfiling of returns for two consecutive return tax periods *Please tick the appropriate option.
5. Turnover in the preceding year (Rs.)
6. Reasons for withdrawal from composition scheme Description* Input tax (Rs.)
(i) Trading Stock
(ii) Packaging Material
7. Input tax on opening stock held in Delhi on the date mentioned in field no. 4 above Total (* Please complete Part B) Name and signature of applicant / authorized signatory
8. Verification I/We ______________________________________________ hereby solemnly affirm and declare that the information given hereinabove is true and correct to the best of my/our knowledge and belief and nothing has been concealed therefrom. Signature of Authorised Signatory ____________________________________ Full Name (first name, middle, surname) ____________________________________ Designation ____________________________________ Place Date Day Month Year Composition Scheme for Bullion Traders 7 Department of Trade and Taxes Government of NCT of Delhi Form BU 02 [See notification under section 16(12)] (PART B) Details of opening stock held on the date (i.e. __________________) from which the composition is withdrawn
(i) Details of trading stock on which credit has been sought S. No. Tax Invoice date Tax Invoice No. Supplier TIN No. under the Act Purchase Price (Rs.) Input Tax (Rs.) Total *Annex separate sheet if necessary
(ii) Details of packaging material on which credit has been sought S. No. Tax Invoice date Tax Invoice No. Supplier Registration No. under the Act Purchase Price (Rs.) Input Tax (Rs.) Total *Annex separate sheet if necessary Name and signature of applicant / authorized signatory
(iii) Verification I/We ______________________________________________ hereby solemnly affirm and declare that the information given hereinabove is true and correct to the best of my/our knowledge and belief and nothing has been concealed therefrom. Signature of Authorised Signatory ____________________________________ Full Name (first name, middle, surname) ____________________________________ Designation ____________________________________ Place Date Day Month Year Carry to (7)(i) of part-A Carry to (7)(ii) of part-A