Section 62(5) in The Himachal Pradesh Value Added Tax Act, 2005
(5)Any dealer who manufactures and sells goods and who, immediately before the commencement of this Act, was enjoying the benefit of any incentive of sales tax leviable on the sale of manufactured goods under the said Act and who would have continued to be eligible for such incentive on the date of commencement of this Act, had this Act not come into force, may be allowed by the State Government, by notification, --(a)to continue to avail of the benefit of exemption from payment of tax on the sale of manufactured goods made by such dealer himself for the unexpired period, subject to the condition that no input tax credit shall be allowed to the subsequent dealer purchasing goods manufactured and sold by such dealer (industrial unit), or(b)to opt, in the prescribed manner, to avail of the facility of making deferred payment of tax for the unexpired period of incentive instead of availing the exemption specified in clause (a), or(c)to continue to avail of the facility of making deferred payment of tax on the sale of manufactured goods made by such dealer himself for the unexpired period and such dealer (industrial unit) shall be eligible to issue tax invoice and to claim input tax credit subject to the provisions of section 11 of this Act.[Provided that the State Government may, by notification, allow any dealer, whether registered before or after the commencement of this Act to avail of any incentive of tax leviable on the sale of manufactured goods under the Act, if such incentive has been declared by the State Government before the commencement of this Act:Provided further that the State Government may by notification, in lieu of the incentive of exemption from tax under the preceding proviso, allow only the facility of making deferred payment of tax, subject to such conditions as it may specify therein.] [Provisos added by H.P. Ordinance No. 8 of 2005 published vide Notification No. LLRD (6)-22/2005-Leg. dated 14-7-2005 in R.H.P. Extra dated 14-7-2005. The Ordinance subsequently replaced by Act No. 23 of 2005 published vide Notification No. LLRD (6)-24/2005-Leg. dated 7-9-2005.]
