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No. FD 56 CSL 2005(3) 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 tax payable under the said Act, on the sale of goods to a new industrial unit, subject to the following conditions and procedure, namely,-
  1. The industrial unit is eligible for exemption of tax on purchase of goods 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 exemption of tax extended in this notification shall be on the purchase of goods, which were extended the benefit of exemption and also limited to the un-availed portion of the period and extent of exemption of tax extended, in the relevant notification and any Government Order and also subject to the overall tax concession originally extended.
  3. The industrial unit shall claim refund of tax paid on the goods purchased in the return prescribed under the said Act, submitted to the jurisdictional authority.
  4. The industrial unit shall be refunded by the jurisdictional authority, such tax paid on purchase of such goods 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 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 unit claiming exemption of tax under this notification shall be eligible for input tax rebate as specified under the said Act, while calculating the net tax payable by it without any reduction of the amount of tax refunded.
  7. The industrial unit claiming exemption of tax 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.
  8. The jurisdictional Joint Commissioner of Commercial Taxes shall issue a Certificate of Entitlement regarding the exemption of tax 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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