Section 4(8) in Uttaranchal Value Added Tax Act, 2005
(8)Specified Goods on which Tax shall be payable at M.R.P.:(a)Where the State Government is satisfied that it is expedient in public interest so to do, it may, by notification and subject to such conditions and restrictions as may be specified therein, direct any class or category of dealers to pay, on sale of such goods as may be specified in the notification, in lieu of tax payable at the actual sale price, a tax at the rate specified in the respective Schedule on the Maximum Retail Price (M.R.P.).(b)A dealer paying tax at M.R.P. under clause (a) above, shall, in addition to mentioning in the Sale Invoice, the actual sale price, separately indicate in the sale invoice the M.R.P. on which tax has been charged and also print on the top "INVOICE FOR TAX ON M.R.P.".(c)Any dealer purchasing goods on which tax has been paid on M.R.P., shall neither be entitled to Input Tax Credit on such purchases nor shall be liable to pay tax on sale on such goods.(d)Where a dealer in whose favour a Recognition Certificate has been granted under clause (b) has purchased the goods after payment of tax at concessional rate or, as the case may be, without payment of tax under this sub-section and A[the Goods] manufactured out of such goods or after packing such with manufactured goods with such packing material are sold or disposed of otherwise than by way of sale in the state or in the course of inter-State trade or commerce or in the course of export, such dealer shall be liable to pay B[.......] an amount equal to the difference between the amount of tax on the sale or purchase of such goods payable under this sub -Section and the amount of tax payable under any other provisions of this Act.(e)Where the State Government is of the opinion that it is no longer in the public interest to continue any scheme under the above provisions, it may, by notification, at any time withdraw any such scheme, and thereafter the tax shall be payable under the relevant provisions of the Act.[Explanation. - The expression M.R.P.(Maximum Retail Price) means the price printed on label or packet of the goods or the regulated price of the goods, if any.] [The tax on the sale of Drugs, medicines etc. shall be payable at the point of sale Manufacturer or sale by Importer on the Maximum Retail Price (M.R.P.) instead of at its actual sale price,- Vide Notification No. 05/XXVII(8), dated 21.1.2006. The above Notification rescinded vide Notification No. 41/XXVII(8), dated 19.1.2007.]
