In exercise of the powers Conferred under Section 22 of the Jharkhand Value Added Tax Act, 2005 (Jharkhand Act 05, 2006), the Governor of Jharkhand, subject to under mentioned conditions and restrictions, is pleased to levy presumptive tax @ 1.5% on the turnover of industrial units engaged in the manufacture and sale of vegetable oil :-
1. Such sale shall be effected by such units only inside the State of Jharkhand.
2. Such units shall obtain registration under Rule 4 of the Jharkhand Value Added Tax Rules ,2006 and obtain registration certificate in JVAT 108 from the prescribed authority.
3. No input tax credit shall be admissible to such units.
4. Such units shall not be entitled to issue tax invoice.
5. Such units shall file returns in JVAT 211 within twenty five days after the end of the respective tax periods.
6. Such units shall pay the specified presumptive tax, within twenty one days after the end of the respective tax periods.
7. Such units, subject to such terms and conditions u/s 63 of the said Act shall also furnish audited accounts in JVAT 409 within 31st December of the following year.
8. For the purpose of such units, the provisions of Section 29, 35 and 36 shall not apply so long as they strictly comply to the provisions as laid down in sub-rule (10) of Rule 14 of the Jharkhand Value Added Tax Rules, 2006 and Section 63 of the Jharkhand Value Added Tax Act,2005.
This Notification shall come into force from the date of its issuance and shall be effective for three years .
By the Order of the Governor of Jharkhand,
Sd/-
(M.R.Meena)
Secretary-cum- Commissioner,
Commercial Taxes Department,
Jharkhand, Ranchi