section 10
Composition of Tax.
The Chhattisgarh Value Added Sales Tax Act, 2005Tax2005147 sections
Statutory text
- (1) (a) The commissioner may, subject to such restrictions and conditions as may be prescribed, permit any registered dealer who carries on wholly or partly the business of supplying goods in the course of execution of works contract entered into by him, to pay in lieu of tax payable by him under this Act a lumpsum at such rate not exceeding 15 percent, as may be prescribed; determined in the prescribed manner, by way of composition, (b) For the purpose of determination of the lumpsum by way of composition under clause (a) the state Government may prescribe different rates for different kinds of contracts. (2) (a) A registered dealer purchasing goods specified in schedule II from an other such dealer within the state after payment of tax under clause (i) of sections 8 and/or purchasing goods specified in schedule I, and whose turnover in year does not ordinarily exceed rupees fifteen lac may opt in the prescribed form, within one month of the commencement of the year, for payment in lieu of tax payable by him under clause (i) of section 8 a lumpsum at such rate, in such manner and subject to such restrictions and conditions as may be prescribed. (b) If a registered dealer during the year for which an option has been given by him contravenes any of the restrictions and conditions prescribed under clause (a) of this section, the option given by him shall stand revoked. (c) A registered dealer who opts for composition of tax under clause (i) of this section shall not be eligible to any input tax rebate in respect of the goods sold during the year in relation to which such option is exercised by the dealer. (3) The provisions of sections 19, 21, 41 and 42 shall not apply to a registered dealer to whom permission to pay a lumpsum by way of composition has been granted under sub-section (1) in relation to the period for and the goods in respect of which such composition has been granted and to such dealer who has opted for composition of tax under sub-section (2) for the period for which such option has been exercised.
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