What is the Effect of de-registration Section 23 of DVAT Act 2004
(1) Every person whose registration is cancelled shall pay in respect of all goods held on the date of cancellation an amount equal to the higher of
(a) the tax that would be payable in respect of those goods if the goods were sold at their fair market value on that date; or
(b) the tax credit previously claimed in respect of those goods.
(2) Where the dealer has accounted for turnover on the basis of amounts received and amounts paid, he shall include in the turnover of his final return -
(a) any amount not yet received in respect of sales made while he was registered; and
(b) any amount not yet paid in respect of purchases made while he was registered.
DELHI VALUE ADDED TAX ACT 2004
Section 21 : Amendment of registration
Section 22 : Cancellation of registration
Section 23 : Effect of de-registration
Section 24 : Registration during transition
Section 25 : Security from certain classes of dealers and other persons
Section 26 : Periodical payment of tax and furnishing of returns
Section 27 : Power to require other returns
Section 28 : Correction of deficiencies
Section 30 : Assessment of tax, interest or penalty
Section 32 : Default assessment of tax payable
Section 33 : Assessment of penalty
Section 34 : Limitation on assessment and re-assessment
Section 35 : Collection of assessed tax and penalties
Section 36 : Manner of payment of tax, penalties and interest
Section 36A : Tax deducted at source
Section 37 : Order of application of payments
Section 39 : Power to withhold refund in certain cases
Section 40 : Collection of tax only by registered dealers
Section 40A : Agreement to defeat the intention and application of this Act to be void
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