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[Cites 0, Cited by 0] [Section 4(7)] [Section 4] [Entire Act]

State of Uttarakhand - Subsection

Section 4(7)(d) in Uttaranchal Value Added Tax Act, 2005

(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 has used such goods for a purpose other than that for which the Recognition Certificate was granted or has otherwise disposed of the said goods, such dealer shall be liable to pay as penalty such amount as the Assessing Authority may fix which shall not be less than 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, but not exceeding three times the amount of such difference.