Section 40 in The Himachal Pradesh Value Added Tax Act, 2005
40. Liability on stock in certain cases.
- Should his certificate of registration be cancelled under any provision of this Act, a dealer, save when he has transferred his business to someone else, and notwithstanding clause (s) of section 2 but subject to the provisions of section 9, shall be liable to pay tax on goods purchased by him in the State of Himachal Pradesh after registration, and remaining unsold at the time of cancellation of certificate at a rate leviable on the sale of such goods.
