In exercise of the powers conferred by section 78 of the Andhra Pradesh Value Added Tax Act, 2005 (Andhra Pradesh Act No.5 of 2005), the Government of Andhra Pradesh hereby makes the following amendments to the Andhra Pradesh Value Added Tax Rules, 2005 issued in G.O.Ms.No.394, Revenue (CT-II) Department, Dated:31-03-2005 and published in the Rules Supplementary to Part-I Extraordinary Issue of the Andhra Pradesh Gazette No.29, dt.20-04-2005, and as subsequently amended from time to time.

2. The amendment shall be deemed to have come into force on and from the 20th February, 2013.

AMENDMENTS

In the said rules:

1. After sub-rule (5) of rule 67, the following shall be added, namely,-

"6. Any industrial unit that availed deferment of tax under any order issued by the Government either before or after the commencement of the Act, may be allowed to pay the net present value of such deferred tax availed by such industrial unit by calculating the same at a discounted rate, as may be prescribed by the Government from time to time by way of a notification.

(7) The industrial unit, opting for prepayment of deferred tax under sub-rule (6) may file an application exercising its option before the Commissioner.

(8) On receipt of the application from the industrial unit exercising the option for prepayment of deferred tax under sub-rule (6), the Commissioner may accept such prepayment of the deferred tax"

ASUTOSH MISHRA,

PRINCIPAL SECRETARY TO GOVERNMENT

(Commercial Taxes & Excise)