THE GOA VALUE ADDED TAX ACT 2005 NOTIFICATIONS
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Body Notification No. 4/5/2005-Fin(R&C)(79) Dated 18th May, 2010.

In exercise of the powers conferred by sub-section (2) of section 89 of the Goa Value Added Tax Act, 2005 (Goa Act 9 of 2005) and all other powers enabling it in this behalf, the Government of Goa hereby amends the Goa Value Added Tax Deferment-cum-Net Present Value Compulsory Payment Scheme, 2005, as follows:-

1. Short title and commencement.-

(1) This Scheme may be called the Goa Value Added Tax Deferment-cum-Net Present Value Compulsory Payment (Third Amendment) Scheme, 2010.

(2) It shall come into force at once.

2. Amendment of clause 2(A).-

In the Goa Value Added Tax Deferment-cum-Net Present Value Compulsory Payment Scheme, 2005 (hereinafter called as the "Principal Scheme" in clause 2(a),-

(i) in sub-clause (b), for item (iii), the following item shall be substituted namely:-

"(iii) Notwithstanding anything contained in item (i) and (ii) above, those units which are specified in item (ii) of sub-clause (e) shall not qualify for additional period of benefit of exemption."

(ii) in sub-clause (e), for item (ii), the following item shall be substituted, namely:-

"(ii) in respect of units specified in Schedule appended hereto, means the following period:-

(i) Small Scale Industries unit availing exemption as on 31-3-2005 under entry 68 of Second Schedule appended to the earlier law.	10 years reduced by the period during which the exemption is availed by the unit under the earlier law
(ii) Medium Scale/Large Scale Industrial units availing exemption as on 31-3-2005 under entry 85 of the Second Schedule appended to the earlier law	5 years reduced by the period during which the exemption is availed by the unit."

By order and in the name of the Governor of Goa.