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Karnatak Notification - Amends Rule 34 ( Extention of Time limit for Audited Statement of Account upto 29/02/08)

February 02, 2008

India Sales Tax And VAT Database

Notification No : FD. 426 CSL 2007Dated 24th January, 2008

Whereas, the draft of the following rules further to amend the Karnataka Value Added Tax rules, 2005 was published as required by sub-section (1) of section 88 of the Karnataka Value Added Tax Act, 2003 (Karnataka Act 32 of 2004) in Notification No. FD 426 CSL 2007, dated 26th November 2007, in the Karnataka Gazette (Extraordinary) No.2052, dated 26th November, 2007, inviting objections or suggestions from all the persons likely to be affected thereby, and notice was given that the said draft will be taken into consideration after fifteen days from the date of its publication in the Official Gazette
And, whereas the said Gazette was made available to the publication 26th November, 2007.
And, whereas the objection and suggestions received in respect of the said draft rules have been considered by the Government;
Now, therefore in exercise of the powers conferred by section 88 of the Karnataka Value Added Tax Act, 2003 (Karnataka Act 32 of 2004), the Government of Karnataka hereby makes the following rules, namely:-
RULES
1. Title and Commencement:-
(1) These rules may be called the Karnataka Value Added Tax (Amendment) Rules, 2008.
2) They Shall come into force at once.
2. Amendment of rules 34:-
In the Karnataka Value Added Tax Rules 2005, in rule 34, in sub-rule (3),-
(i) the following proviso shall be and shall be deemed to have been inserted with effect from the 31st day of December, 2006 and shall be and shall be deemed to have been omitted with effect from the 1st day of April 2007, namely:-
``Provided that the audited statement of account for the year ending 31st March, 2006 shall be submitted on or before 31st March, 2007''; and
(ii) after such insertion and omission under (i) above, the following proviso shall be and shall be deemed to have been inserted with effect from the 31st day of December 2007, namely,-
``Provided that the audited statement of account for the year ending 31st March, 2007 shall be submitted on or before 29th February, 2008''.
By Order and in the name of the President of India,
(R.S. ITAGI)
Under Secretary to Government,
Finance Department (C.T.-1)
PRINCIPAL SECRETARY TO GOVERNMENT

www.SalesTaxIndia.com Karnatak Notification - Amends Rule 34 ( Extention of Time limit for Audited Statement of Account upto 29/02/08)		February 02, 2008
	India Sales Tax And VAT Database
Notification No : FD. 426 CSL 2007Dated 24th January, 2008
Whereas, the draft of the following rules further to amend the Karnataka Value Added Tax rules, 2005 was published as required by sub-section (1) of section 88 of the Karnataka Value Added Tax Act, 2003 (Karnataka Act 32 of 2004) in Notification No. FD 426 CSL 2007, dated 26th November 2007, in the Karnataka Gazette (Extraordinary) No.2052, dated 26th November, 2007, inviting objections or suggestions from all the persons likely to be affected thereby, and notice was given that the said draft will be taken into consideration after fifteen days from the date of its publication in the Official Gazette And, whereas the said Gazette was made available to the publication 26th November, 2007. And, whereas the objection and suggestions received in respect of the said draft rules have been considered by the Government; Now, therefore in exercise of the powers conferred by section 88 of the Karnataka Value Added Tax Act, 2003 (Karnataka Act 32 of 2004), the Government of Karnataka hereby makes the following rules, namely:- RULES 1. Title and Commencement:- (1) These rules may be called the Karnataka Value Added Tax (Amendment) Rules, 2008. 2) They Shall come into force at once. 2. Amendment of rules 34:- In the Karnataka Value Added Tax Rules 2005, in rule 34, in sub-rule (3),- (i) the following proviso shall be and shall be deemed to have been inserted with effect from the 31st day of December, 2006 and shall be and shall be deemed to have been omitted with effect from the 1st day of April 2007, namely:- ``Provided that the audited statement of account for the year ending 31st March, 2006 shall be submitted on or before 31st March, 2007''; and (ii) after such insertion and omission under (i) above, the following proviso shall be and shall be deemed to have been inserted with effect from the 31st day of December 2007, namely,- ``Provided that the audited statement of account for the year ending 31st March, 2007 shall be submitted on or before 29th February, 2008''. By Order and in the name of the President of India, (R.S. ITAGI) Under Secretary to Government, Finance Department (C.T.-1) PRINCIPAL SECRETARY TO GOVERNMENT