Section 17 in The Rajasthan Value Added Tax Act, 2003
17. Tax payable by a dealer.
(1)Subject to the other provisions of this Act, the net tax payable by a registered dealer, other than the dealer covered by sub-section (2) of section 3 or section 5, for a tax period shall be calculated as under:-T=(O+R+P)-IWhereT is net tax payable;O is amount of output tax;R is amount of reverse tax;P is the amount of tax payable under sub-section (2) of section 4; andI is the amount of input tax.(2)Where the net tax payable under sub-section (1) has a negative value, the same shall be first adjusted against any tax payable or amount outstanding under the Central Sales Tax Act, 1956 (Central Act No. 74 of 1956) [or under this Act or the repealed Act and the balance amount if any, shall be carried forward to the next tax period or periods. In case the dealer claims refund of the balance amount, if any, at the end of the year, the same shall be granted only after the end of the immediately succeeding year. However,] [Substituted 'or under this Act or the repealed Act, shall be carried forward to the next tax period or periods of the year and refund of the remaining amount, if any, shall be granted only after the end of the immediately succeeding year however' by Rajasthan Act No. 3 of 2007, dated 10.4.2007.] [the Commissioner after recording reasons for doing so may, by a general or specific order, direct to grant such refunds even earlier.] [[Substituted by Rajasthan Act 4 of 2006, Published in Rajasthan Government Gazette Extraordinary, Part IV-A, dated 31-3-2006, page 61(47) (1-4-2006) for the following :-'however, the Commissioner, in particular cases, may, after recording reasons, grant such refunds earlier also.']](3)Notwithstanding anything contained in this Act, where the sales are made on behalf of the principal registered under this Act by an agent also registered under this Act, such sales shall be deemed to be the sales of the principal and the agent shall render the accounts of such sales in the manner as may be prescribed.(4)Every person whose registration is cancelled under this Act shall pay tax in the manner prescribed in respect of every taxable goods held in stock and capital goods on the date of such cancellation.
