Section 6(14) in Uttaranchal Value Added Tax Act, 2005
(14)Adjustment in Tax Credit:- (a) Adjustments as provided under this Section shall be made in relation to taxable sales by a person, when-(i)the rate of tax charged to that sale is different from the rate of tax as applicable under the provisions of this Act; or(ii)the sale amount is altered whether due to the offer of discount allowed as a normal trade practice or for any other reason; or(iii)the goods or part of the goods sold have been returned to the seller within 6 months from the date of sale; and the seller has, as a result of the occurrence of one or more of the events described in sub-clauses (i) to (iii) in clause (a) above-(i)issued a Sale invoice in relation to that sale and the amount shown therein as tax charged on that sale is incorrect in relation to the amount properly chargeable on that sale; or(ii)filed a return for the tax period in which the sale occurred and had accounted for an incorrect amount of output tax on that sale in relation to the amount properly chargeable on that sale;(b)Where a seller has accounted for an incorrect amount of output tax as contemplated in clause (a), that seller shall make an adjustment in calculating the tax payable by that seller in the return for the tax period during which it has become apparent that the output tax is incorrect, and if-(i)the output tax properly chargeable in relation to that sale exceeds the output tax actually accounted for by the seller, the amount of that excess shall be deemed to be tax charged by that seller in relation to a taxable sale attributable to the tax period in which the adjustment is to be made, and shall not be attributable to any prior tax period; or(ii)the output tax actually accounted for exceeds the output tax properly chargeable in relation to that sale, that seller shall reduce the amount of output tax attributable to the said tax period in terms of Section 4 by the amount of that excess:(c)The credit allowed under sub-clause (i) of clause (b) above is treated as a credit for input tax;(d)No credit shall be allowed under (b) (i) clause above where-(i)the excess tax has been borne by the purchaser of the goods,(ii)the sale has been made to a person who is not a registered person,(iii)unless the amount of the excess tax has been repaid by the taxable person to the person from whom the excess tax collection is made, whether in cash or by adjustment through a credit note and the registered person maintains evidence to the satisfaction of the Assessing Authority for such payment;
