Central Sales Tax (Deferment of Payment of Tax) Orissa Rules, 2007

Central Sales Tax (Deferment of Payment of Tax) Orissa Rules, 2007 1. Short title and Commencement. 2. Deferment of tax. 3.

The Central Sales Tax (Deferment of Payment of Tax) Orissa Rules, 2007

Published vide Notification No. S.R.O. No.218/2007, Orissa Gazette Extraordinary No. 684 dated 23.4.2007

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Finance Department

S.R.O. No.218/2007 - In exercise of the powers conferred by Sub-section (3) of Section 13 of the Central Sales Tax Act, 1956 (74 of 1956) read with Subsection (2) of Section 9 thereof and clause (i) of Sub-section (2) of Section 106 of the Orissa Value Added Tax Act, 2004 (Orissa Act 4 of 2005), the State Government do hereby make the following rules, namely :-

1. Short title and Commencement.- (1) These rules may be called the Central Sales Tax (Deferment of Payment of Tax) Orissa Rules, 2007.

(2) They shall come into force on the date of their publication in the Official Gazette.

2. Deferment of tax.- (1) The industrial units who are registered dealers within the meaning of clause (f) of Section 2 of the Central Sales Tax Act, 1956 and are allowed under the Orissa Value Added Tax Act, 2004 (Orissa Act 4 of 2005) (hereinafter referred to as the State Act) by notification of the Government of Orissa in The Finance Department No.40563/2006/F., dated the 26th September, 2006 to defer payment of tax collected and payable under the State Act on sale of finished produces manufactured or processed by such industrial units shall be allowed to defer payment of net tax payable under the Central Sales Tax Act, 1956 on sale of finished products till the expiry of the period of deferment allowed under the afore-said notification subject to the same conditions and restrictions as provided thereof.

Explanation - For the purpose of these rules, 'net tax payable' shall be the balance amount of tax payable after adjustment of input tax as admissible under clause (c) of Sub-rule (3) of Rule 7 of the Central Sales Tax (Orissa) Rules, 1957.

3. The application for deferred payment of tax in Form I and the permission allowing deferred payment of tax in Form II appended to the aforesaid notification shall mutatis mutandisbe applicable for the purpose of determent of tax under the Central Sales Tax Act, 1956.