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Section 17 of Delhi Value Added Tax 2004 - Transactions between related parties

 

What is the treatment of Transactions between related parties? Section 17 of DVAT Act 2004

Section 17 : Transactions between related parties - Delhi Value Added Tax Act 2004

If ?
(a) a registered dealer sells or gives goods to a related person;

(b) the terms or conditions of the transaction have been influenced by the
relationship; and

(c) the related person had purchased the goods, the related person would not be entitled to a tax credit for the purchase, or the amount of the tax credit would be reduced under sub-section (3) of section 9 of this Act;

the transaction shall be deemed to be a sale made by the registered dealer and the sale price of the goods shall be deemed to be their fair market value.

 

DELHI VALUE ADDED TAX 2004

Section 2  : Definitions

Section 3  : Imposition of tax

Section 4  : Rates of tax

Section 5  : Taxable turnover

Section 6  : Sale exempt from tax

 

 

Section 7  : Certain sales not liable to tax

Section 8  : Adjustments to tax

Section 9  : Tax credit

Section 10  : Adjustment to tax credit

Section 11  : Net tax

 

 

Section 11A  : Tax on goods supplied by contractee

Section 12  : Time at which turnover, turnover of purchases and adjustments arise

Section 13 : Priority

Section 14 : Treatment of stock brought forward during transition

Section 15 : Second-hand goods

 

 

Section 16 : Composition scheme for specified dealers

Section 16A : Special provisions relating to casual traders

Section 17 : Transactions between related parties

Section 18 : Mandatory and voluntary registration

Section 19 : Registration

Section 20 : Effect of registration

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