Section 9 in Goa Value Added Tax Deferment-cum-Net Present Value Compulsory Payment Scheme, 2005
9. Restriction on issue of invoice and for claiming input tax credit on goods manufactured by industries covered under the Scheme.
- The invoice issued by the eligible unit covered by the Scheme shall be "Restrictive Tax Invoice'. Input tax credit shall be admissible against it to the extent the goods are sold within the State. In the event of inter-state sales of such goods by any of the subsequent seller, the input tax credit shall be restricted to the actual output tax payable on such inter-state sales or input tax paid on such goods, whichever is lower. The input tax credit shall not be admissible if goods are dispatched by way other than sales, by the subsequent dealer/dealers.The eligible unit shall specifically mention in the invoice the following:-"Goods covered hereinunder are manufactured by eligible unit coming under the Goa Value Added Tax Deferment-cum-Net Present Value Compulsory Payment Scheme, 2005. Input tax credit restricted to local sales only".
