| 93.Proportionate incentives to an Eligible Unit in certain contingencies M. VAT ACT | |
|
93.Proportionate incentives to an Eligible Unit in certain contingencies
(1) Notwithstanding anything to the contrary contained in any Package Scheme of Incentives, any Eligible Unit, to whom the Eligibility Certificate has been granted, shall be eligible to draw the benefits in any year after the appointed day, only on that part of its turnover of sales or purchases as may be arrived at by applying the ratio as may be prescribed by the State Government to the total turnover of sales and purchases of the said unit in that year and different ratios may he prescribed for different classes of units and different schemes.
(2) The benefits, if any, availed of by an Eligible Unit in contravention of sub-section (1), if any, shall be and shall be deemed to have been withdrawn and such unit shall be liable to pay tax including penalty and interest, if any, in respect of the turnover of sales and purchases in excess of the turnover arrived at under sub-section (1) and accordingly any benefit which is so availed shall be recovered as arrears of tax as provided in sub-section (3).
(3) Forrecovery of arrears of tax, the Commissioner shall require the Eligible Unit, by order in writing, to pay the tax, interest and penalty on such turnover on which the benefits are not available and serve on the dealer, a notice of demand as provided in sub-section (4) of section 32 accordingly:
Provided that, no order under this section shall be passed without giving the Eligible Unit a reasonable opportunity of being.
|
|
User Log in
