In exercise of the powers conferred by section 85 of the Jammu and Kashmir Value Added Tax Act, 2005, the Government hereby direct that Rule 59 of the Jammu and Kashmir Value Added Tax Rules, 2005 shall be recast as under:-

"59. Refund in case of Zero Rated Sales

(1} A registered dealer entitled to refund under sub-section (3) of section 55 of the Jammu' and Kashmir Value Added Tax Act, 2005 shall submit his claim of refund to the jurisdictional Assessing Authority by moving an application in this behalf within 30 days of the transaction of such sale.

In case of an exporter the said application shall be accompanied by:-

(a) Purchase invoice in original depicting the amount of input tax paid on purchase made within the state;

(b) Sale invoice in original carrying the full particulars of the consignee;

(c) custom clearance documents viz. certified copy of shipping bill and the non- negotiable copy of bill of lading as a testimony of the goods (for which input tax has been paid and refund is being claimed) having been exported outside the territorial jurisdiction of India;

(d) bank certificate from the concerned bank where payment from the foreign buyer in lieu of goods received has been credited; and

In case of a sale or supply made to a Special Economic Zone (SEZ) the application shall be accompanied by:

(a) Purchase invoice in original depicting the amount of input tax paid on purchase made within the state;

(b) sale invoice in original;

(c) a certificate from the Development Commissioner (SEZ) that the goods (for which Input tax has been paid and refund is being claimed) have been either sold or supplied to the SEZ.

(2) The jurisdictional Assessing Authority on receipt of the application and the documents as referred to in sub-rule (1) shall verify the contents and on being satisfied that the claim is in order shall issue a refund voucher in Form V AT -35.

(3) In case there is a delay on the part of the Department to grant refund to a registered dealer who applies to the jurisdictional Assessing Authority within the time prescribed in sub- rule (1) the dealer shall make an application for grant of refund along with interest to the concerned jurisdictional Assessing Authority in Form VAT -40-B."