Section 23 in Daman and Diu Value Added Tax Regulation, 2005
23. Effect of cancellation of certificate of registration.
(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.(2)Where the dealer has specified in his books of account the turnover on the basis of amounts received and amounts paid, he shall include in the turnover of his last return -(a)any amount not yet received in respect of sales made while he was registered as a dealer under this Regulation; and(b)any amount not yet paid in respect of purchases made while he was registered as a dealer under this Regulation.
