Section 16(3) in Uttarakhand Value Added Tax Rules, 2005
(3)(a)The claim for Input Tax Credit in respect of stock in hand on the date of commencement of the Act or on the date of registration as per sub-section (5) of Section 6 of the Act, shall be submitted by the dealer within 30 days of the relevant date:[Provided further that in respect of stock in hand on 1st October 2005, the dealer may be submit his claim for Input Tax Credit upto [31st March, 2006.] [Provision inserted vide Notification No. 1173/ XXVII (5)/2005 dated 01-10-2005.]](b)The dealer claiming Input Tax Credit as per clause (a) above, shall provide -(i)an inventory of all the goods in hand on which Input Tax Credit in being claimed, giving the commodity wise details of such stocks, both in quantity and value, in respect of -(a,a) total stock of goods on the relevant date;(a,b) stock of goods purchased or received from outside the State;(a,c) stock of goods purchased from within the State before one year of the relevant date;(a,d) stock of goods purchased from within the State within one year of the relevant date; and.(ii)the list of commodity wise purchases made from registered dealers within the State as per (a,d) above in respect of which Input Tax Credit is being claimed, giving the details of date of purchase, name, address and registration number of the selling dealer, sale invoice number and date, quantity purchased and its value, tax paid thereon and the total price of the goods purchased and with respect to the particular purchase voucher, also the quantity of stock in hand on the relevant date and its actual or proportionate value, tax amount and total value.(c)The documentary evidence of payment of tax and evidence of the price of goods, must be available and be retained by the dealer for a period of two years, and(d)Input Tax Credit shall be calculated as follows-(i)in respect of goods which were subjected to tax at the single point under the repealed Act, and tax has been charged separately on the bill, Input Tax Credit shall be the amount of such tax or the tax which should have been payable at the rate applicable on the date of commencement of the Act, whichever is lower,(ii)in respect of goods which were subjected to tax at the single point under the repealed Act, and the tax has not been charged the amount that can be claimed for Input Tax Credit shall be 75% of the purchase value and the tax component which may be claimed as credit for this purpose shall be calculated by use of the tax fraction applied to this value.Explanation: - The tax fraction shall be the fraction calculated in accordance with the formula r/(100+ r) where "r" is the rate of tax applicable on the sale of the taxable goods.
