Section 23(1) in Daman and Diu Value Added Tax Regulation, 2005
(1)Every person, whose certificate of registration has been cancelled, shall pay in respect of all goods held on the date of cancellation an amount equal to the amount of -(a)the tax which 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,whichever is higher.
