Section 20(1) in Daman and Diu Value Added Tax Regulation, 2005
(1)If a certificate of registration is granted at any time after the commencement of this Regulation and -(a)the dealer holds trading stock for the purpose of sale, or for use as raw materials for the production of trading stock;(b)the dealer has paid input tax on the purchase of the trading stock or raw materials;(c)the dealer furnishes a statement of its trading stock and raw materials in the prescribed form to the Commissioner; and(d)the dealer possesses sufficient proof of the amount of input tax in respect of the purchases,such dealer shall be entitled to a tax credit for the trading stock or raw materials held by the dealer on the date on which the certificate of registration come into force:Provided that the dealer shall claim the entire amount of tax credit to which he is entitled, in a single claim which accompanies the first return furnished by the dealer under this Regulation.
