Section 38(3) in Daman and Diu Value Added Tax Regulation, 2005
(3)Subject to the provisions of sub-section (4), any amount remaining at the end of the financial year after the application of the excess amount referred to in sub-section (2) shall, at the option of the dealer, either -(a)be refunded to the person within one year after the date on which the claim was made for the refund; or(b)be carried forward to the next tax period as a tax credit in that period.
