The Jharkhand Value Added Tax Act, 2005 NOTIFICATION
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Notification No. S.O. 65., Dated 9th March, 2007

In exercise of the powers conferred by sub-section (2) of Section 9 of the Jharkhand Value Added Tax Act 2005 (as amended by the Jharkhand Act 21, 2006) the Governor of Jharkhand is pleased to specify the goods, mentioned in column (2) of the Schedule below, on which a registered dealer, subject to such conditions and restrictions mentioned in column (3), read with sub-section (2) of Section 9 of the said Act, and as prescribed in this behalf, may pay, at his option; tax at the full rate on the Maximum Retail Price of such goods —

Schedule

Serial

No.

Description of the goods

Conditions & Restrictions

(1)

(2)

(3)

Medicines and Drugs; as specified in the Sl. No. 85 of the Part B of Schedule II (excluding Homeopathic and Unani medicines).

(i) The manufacturers or the importers of the goods described in column (2), making any free supplies to their purchasing dealers; under any marketing scheme, shall also calculate and pay tax on the Maximum Retail Price of such goods. (ii) No Input Tax Credit shall be admissible to the purchasing dealers engaged in the resale of the goods specified in column (2).

(iii) The resellers engaged in reselling of the goods, shall recover the amount: equal to the tax paid, immediately at the preceding stage at Maximum Retail Price from their purchasing dealers / consumers.

(iv) The selling /Re-selling dealers shall issue the prescribed Forms to their purchasing dealers in the prescribed manner.

This Notification shall be deemed to have come into force with effect from 1^st April, 2006.