Act No. 6 of 2015

THE HIMACHAL PRADESH VALUE ADDED TAX (AMENDMENT) ACT, 2014

(AS ASSENTED TO BY THE GOVERNOR ON 18TH JANUARY, 2015)

AN

ACT

further to amend the Himachal Pradesh Value Added Tax Act, 2005 (Act No. 12 of 2005).

BE it enacted by the Legislative Assembly of Himachal Pradesh in the Sixty-fifth Year of the Republic of India as follows:-

1. Short title.-

This Act may be called the Himachal Pradesh Value Added Tax (Amendment) Act, 2014.

2. Amendment of section 16.-

In section 16 of the Himachal Pradesh Value Added Tax Act, 2005,-

(a) for the existing sub-section (5), the following sub-section shall be substituted, namely:-

"(5) If any dealer discovers any omission or other error in any return furnished by him, he may-

(i) in the case of monthly and quarterly return, furnish a revised return before the date prescribed for filing of next return, and

(ii) in the case of annual reurn, furnish a revised return within a period of sixty days from the last date prescribed for filing of annual return, and if the revised return shows a greater amount of tax to be due against the tax shown in the original return, it shall be accompanied with a receipt showing payment of extra amount in accordance with sub-section(4)." and

(b) for the existing sub-section(6), the following sub-section shall be substituted, namely:-

"(6) If a dealer fails without sufficient cause to furnish the return by the prescribed date as required under sub-section (3), the dealer shall be liable to pay, by way of penalty, a sum equal to Rs. 200/- per day till the default continues, but such penalty shall not exceed Rs. 25,000/-:

Provided that where annual tax liability is more than twenty lakh Rupees, a sum equal to Rs. 1000/- per day shall be charged as penalty till the default continues without any upper limit."