Lawzonline.com

 

 

 


 Home>>Bare Acts>>Back to Index

 

 

23. Effect of de-registration.- (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.

 

 

 

 

Central Bare Acts
State Bare Acts

  

 

 

 


Home | Law Dictionary | Law Schools | Law Digest | Bare Acts | Disclaimer |  Privacy Policy


  
  
 

 

 

Copy right : Indu Info (All rights reserved)