Section 14 of Delhi Value Added Tax 2004 - Treatment of stock
brought forward during transition
What is Treatment of stock brought forward during transition?
Section 14 of DVAT Act 2004
Section 14 : Treatment of stock brought forward during transition -
Delhi Value Added Tax Act 2004
Rule 8, 30 Form 18
(1) Within a period of four months of the commencement of
this Act, all registered dealers wishing to claim the credit
referred to in sub-section (2) of this section, shall furnish to
the Commissioner a statement of their trading stock, raw
materials and packaging materials for trading stock (in this
section referred to as 'opening stock') which ?
(a) is held in Delhi on the date of the commencement of this
(b) was purchased by the dealer after the first day of April
in such form as may be prescribed.
(2) If ?
(a) the dealer has furnished the statement referred to in
sub-section (1) of this section;
(b) the opening stock has borne tax under the Delhi Sales Tax
Act, 1975 (43 of 1975) at the point specified by the Government
under section 5 of the said Act; and (c) the opening stock has
been purchased by the dealer from a registered dealer for such
purposes as are specified in sub-section (1) of section 9 of
the amount of tax borne under the Delhi Sales Tax Act, 1975
(43 of 1975) on such opening stock, determined in such manner
and subject to such conditions and restrictions and up to the
extent as may be prescribed, shall be credited to the registered
dealer as a tax credit under section 9 of this Act:
PROVIDED that no tax credit under this section shall be
allowed unless the dealer has in his possession, invoices issued
by a dealer registered under the Delhi Sales Tax Act, 1975 (43
of 1975) in respect of the purchases of the said goods:
PROVIDED FURTHER that the dealer shall claim the entire
amount of credit to which he is entitled in a single statement,
which accompanies a return furnished under this Act.
(3) For the avoidance of doubt, no tax credit under
sub-section (2) of this
section can be claimed ?
(a) for finished goods manufactured out of tax
paid raw material or capital goods;
(b) for any goods that were taxable at last point under the
Delhi Sales Tax Act, 1975 (43 of 1975) held at the time of the
commencement of this Act;
(c) in a statement furnished more than four months after the
commencement of this Act; or
(d) for opening stock which is held outside Delhi.
(4) Every dealer wishing to claim a tax credit in excess of
one lakh rupees on opening stock shall furnish with the
statement a certificate signed by an accountant in the
prescribed form certifying that the net credit claim made is
true and correct.