In exercise of the powers conferred by subsection (1) of Section 32 of the Kerala Value Added Tax Act, 2003 (30 of 2004), the Government of Kerala having considered it necessary in the public interest so to do, hereby make the following further amendment to the notification issued in G.O (P)No:49/2005/TD dated the 31st March 2005 and published as S.R.O No:321/2005 in the Kerala Gazette Extraordinary No:685 dated 31st March,2005,namely:-

AMENDMENT

In he said notification, in clause (5) for the words, " the unavailed amount "for the unavailed amount", the words," or bank guarantee for the amount likely to be availed of for the unavailed amount" shall be substituted.

This notification shall be demand to have come into force on the 1st day of April 2005.

By order of the Governor,

P. MARA PANDIYAN,

Secretary to Government.

Explanatory Note

(This does not form part of the notification, but is intended to indicate its general purport)

Government have decided to grant permission to dealers who have opted deferment of tax under section 32 of the Kerala Value Added Tax Act, 2003, to furnish bank guarantee also as security for the amount likely to availed of the unavailed portion of tax exemption granted under the SRO 1729/1993.

This notification is intended to achieve the above object.