Section 18(5) in Uttaranchal Value Added Tax Act, 2005
(5)Every person whose registration is cancelled under this Section shall pay in respect of every taxable goods held as stock or as capital goods on the date of cancellation an amount equal to-(a)the tax that would be payable in respect of those goods if the goods were sold at fair market price on that date; or(b)the total tax credit previously claimed in respect of those goods, whichever is higher.
