Section 16(2) in The Andaman and Nicobar Islands Value Added Tax Regulation, 2017
(2)At the time of making application for registration under section 19 of this Act, the dealer covered under sub-section (1) shall be required to specify if he intends to pay tax under this section:Provided that once the dealer chooses to pay tax under this section, the option may be reversed only after the end of the year for which the option is made, by application to the Commissioner within such time and in such manner as may be prescribed:Provided further that where a dealer chooses to reverse his option to pay tax under this section, he shall be eligible to claim credit of the tax paid under this Regulation on the trading stock, raw material and packaging material held by him in Andaman and Nicobar Islands on the date when such reversal takes effect subject to the conditions contained in section 20 in so far as they are applicable.
