Goa Value Added Tax Act to be amended
As part of resource mobilisation, the government has ensured that value added tax was collected from those selling their products at the exhibitions besides the government has decided to amend the provisions of the Goa Value Added Tax Act, 2005, so as to fix special liability on the persons organising or conducting exhibitions-cum-sales.
Besides, prior permission would have to be obtained by the organisers of every exhibition from the commercial tax department. Advance deposit would be taken from the prospective non-registered dealers, which would then be adjusted later against sales details. This provision would, however, not be applicable to the registered dealers and recognised self-help groups selling their own products.
Taking note of the fact that sales bills were not issued by the dealers nor were proper books of accounts and stock details being maintained, the government has decided to deal with all such defaulters seriously and impose adequate penalty. All such defaulters would now be levied on-the-spot penalty of `1,000 by the commissioner of commercial taxes.
Besides, the current law would be applicable so as to streamline the inspection and audits carried out by the commercial tax department, wherein all the reports would be recorded on serially numbered official printed stationery, duly authenticated by the next higher authority. This would enable the department to keep track on the inspections carried out and this will form the basis for initiation of action against the tax violators.
The government has also proposed to refund VAT on Aviation Turbine Fuel to encourage more airline carrier arrivals to the state. A scheme for refund of VAT on ATF, subject to minimum VAT of 5 per cent, would be formulated and introduced during the forthcoming tourist season. [NT]