In exercise of (he powers conferred by sub-section (3) of section 20 of the Rajasthan Value Added Tax Act, 2003 (Act No. 4 of 2003), the State Government being of the opinion that it is expedient in the public interest so to do, hereby defer the payment of tax payable on the sales made within the State, under the Rajasthan Value Added Tax Act, 2003, by the registered dealers engaged in manufacturing of automobile components, who have been granted a customized package under Rajasthan Investment Promotion Scheme-2010 including deferment of tax, on the following conditions, namely:-

1. that the extent of deferment of tax shall be 25% of the tax payable by the enterprise. However, where the customized package has been granted for investment made in expansion/diversification/modernization by an existing enterprise the deferment of 25% of the tax payable shall be allowed on the amount of additional tax which accrues due to utilization of increased capacity/increased volume of sales in quantity, created/achieved after expansion/di versification /modernization;

2. that the deferment of tax shall be for a period of seven years from the date of order of such customized package for the unit issued by the State Government or date of commencement of commercial production by the unit, whichever is later;

3. that the dealer after having availed the benefit of deferment of tax shall pay the amount of tax so deferred in five equal annual installments without interest and first installment shall be payable within a period of thirty days from the date of expiry of the period as provided by the order of such customized package for the unit issued by the State Government, and successive subsequent installment shall be payable at the interval of the year;

4. that where any such installment is not paid in time, the total outstanding deferment amount payable in installments shall be recoverable immediately as arrears of land revenue with interest at the rate prescribed in the Act from the first day of default of such installments;

5. that the tax deferred under this notification shall be treated as a loan; and

6. that such dealers shall comply with all the provisions of the Rajasthan Value Added Tax Act, 2003 and the rules made there under.

Explanation: The expression "tax payable" means the tax to be deposited after adjusting the input tax credit.

By Order of the Governor,

(Dr. Ravikumar S.)

Deputy Secretary to the Government