Section 76(6) in Uttaranchal Value Added Tax Act, 2005
(6)Subject to other provisions of this Section, the dealers holding eligibility certificate either granted under the provisions of the Uttaranchal (the Uttar Pradesh Trade Tax Act, 1948) Adaptation and Modification Order, 2002 before the date of the commencement of this Act or who may be granted eligibility certificate under sub-section (5), shall be eligible to tax concessions or, as the case may be, for the facility of moratorium for payment of tax in lieu of exemption from tax, as per provisions of Section 4-A of the repealed Act and the Rules made or relevant Notifications issued there under, subject to the following conditions and restrictions, namely:-(a)the dealers who had opted for moratorium for payment of tax in lieu of exemption from tax, shall be eligible for the facility of moratorium to the extent of aggregate amount of hundred percent of the amount of exemption from tax mentioned in the eligibility certificate and fifty percent of the amount of fixed capital investment mentioned in the eligibility certificate less aggregate of such amount in respect of which facility of moratorium for payment of tax has been availed during the period before the commencement of this Act, for the period remaining on that date out of the maximum period mentioned in the order of moratorium.(b)the dealers who were enjoying exemption from tax for any period before the commencement of the Ordinance, may, either(i)continue to do so for the period remaining on that date out of the maximum period mentioned in eligibility certificate, and to the extent of remaining balance amount (amount of exemption from tax mentioned in the eligibility certificate less the aggregate of amount of exemption from tax as has been availed before the date of commencement of this Ordinance); or(ii)opt, in the prescribed manner, for benefit of moratorium for payment of tax in lieu of exemption from tax and such units shall be eligible for facility of moratorium to the extent of aggregate amount of hundred percent of the amount of exemption from tax mentioned in the eligibility certificate and fifty percent of the amount of fixed capital investment mentioned in the eligibility certificate less the aggregate of amount of exemption from of tax as has been availed before the date of commencement of the Ordinance, for the period remaining on that date out of the maximum period mentioned in the eligibility certificate:Provided that if the dealer does not choose either of the two options, within 30 days of the commencement of this Act, it shall be presumed that the dealer desires to continue as per provision (i) above.(c)[ any taxable dealer purchasing goods from such dealer holding eligibility certificate and who is exempted from tax, whether wholly or partially, shall be entitled to Input Tax Credit of the amount of tax charged in the sale invoice of the selling dealer and for this purpose the selling dealer shall append the following certificate in the sale invoice regarding- [Substituted vide Notification No. 1314/XXXVI(4)/2008, date 31-3-08.]Certificate"Certified that the dealer is entitled to exemption from tax @ -------- as per Eligibility Certificate No---------------dated------------- according to which the exemption amount in this Invoice comes to Rs.---------."]
