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VAT2005-14
NOTIFICATION
No. FD 56 CSL 2005(1) Bangalore, Dated 18.04.2005
 
In exercise of the powers conferred by sub-section (2) of Section 5 of the Karnataka Value Added Tax Act, 2003 (Karnataka Act No. 32 of 2004), the Government of Karnataka hereby exempts with effect from the first day of April, 2005, the net tax payable by a new industrial unit under the said Act, on the sale of goods manufactured by it, subject to the following conditions and procedure, namely,-
 
(1) The industrial unit is eligible for tax exemption on sale of goods manufactured by it, under the notification issued by the Government under the provisions of the Karnataka Sales Tax Act, 1957 (Karnataka Act, 25 of 1957).
 
(2) The tax exemption extended in this notification shall be limited to the un-availed portion of period and extent of tax exemption extended in the relevant notification and any Government Order and also subject to the overall tax concession originally extended.
 

(3) The industrial unit shall charge and collect the tax applicable under the said Act, on the sale of goods manufactured by it, and pay the net tax payable alongwith the return prescribed under the said Act to the jurisdictional authority.

 
(4) The industrial unit shall be refunded, such net tax paid within thirty five days after the end of the month to which the return relates, if it is furnished within the time specified under Section 35 of the said Act or within fifteen days from the date of filing of the return, if it is filed after the time specified, in the manner prescribed under the said Act by the jurisdictional authority and interest shall be paid for any delay in the refund, as specified under the said Act.
 
(5) The industrial unit claiming tax exemption under this notification shall not be deemed to have been assessed based on the return filed by him and any refund made shall be subject to assessment requiring production of accounts in support of the return filed.
 
(6) The tax exemption extended in this notification shall not be available to an industrial on its sale of goods to another industrial unit which is claiming exemption of tax on its purchase in terms of the notification No.FD 56 CSL 2005(3), dated 18-04-2005.
 
(7) On any claim of deduction of input tax by a registered dealer on his purchase from the industrial unit claiming tax exemption under this notification, on account of any sale in the course of inter-State trade or export outside the country of the goods purchased, the amount refunded to such industrial unit shall be repayable to the extent of input tax claimed by the purchaser.
 
(8) The unit claiming tax exemption under this notification shall be eligible for input tax rebate as specified under the said Act, while calculating the net tax payable by the industrial unit.
 
(9) The industrial unit claiming tax exemption under this notification shall file an application before the jurisdictional Joint Commissioner of Commercial Taxes within 30th April, 2005, giving details of the extent and period of tax exemption extended, availed and the balance, the relevant notification under which it was availing the tax exemption and the date from which it intends to claim tax exemption under this notification.
 
(10) The jurisdictional Joint Commissioner of Commercial Taxes shall issue a Certificate of Entitlement regarding the tax exemption available to the industrial unit under this notification, within ten days from the date of filing of an application by the industrial unit after verification of the claim made.
 
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