Vat Actupdated - RS Goyal & Associates
Vat Actupdated - RS Goyal & Associates
Vat Actupdated - RS Goyal & Associates
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76<br />
proceeding immediately preceding the commencement of this Act shall, on the date of such<br />
commencement stand transferred to the officer or authority competent to make assessment<br />
or to hear and decide appeal or revision or other proceedings under this Act and thereupon<br />
such assessment, shall be made or such appeal or revision or other proceeding shall be<br />
heard and decided within the period, if any, specified therefor, by such officer or authority in<br />
accordance with the provisions of the repealed Act or the rules made thereunder as if they<br />
were the officer or authority duly empowered for the purpose under the repealed Act.<br />
(iv) (a) any application by a dealer or the Commissioner to the 2 Appellate Board 2 for making<br />
a reference to the High Court under sub-section (1) of section 70 of the repealed Act; or<br />
(b) any such application made under sub-section (2) of section 70 of the repealed Act;<br />
or<br />
(c) any reference made to the High Court under sub-section (1) or sub-section (2) of<br />
section 70 of the repealed Act,<br />
4 is pending on or arising after<br />
4 the date of commencement of this Act shall be disposed of<br />
by the 2 Appellate Board 2 or the High Court, as the case may be, in accordance with the<br />
provisions of section 70 of the repealed Act as if this Act had not been passed and the said<br />
Act had not been repealed.<br />
(v) Notwithstanding anything contained in clause (i), any appeal, revision or other<br />
proceedings arising under the repealed Act but preferred or initiated after the<br />
commencement of this Act, shall be heard and decided by the authority competent to<br />
entertain any appeal, revision or any other proceedings in accordance with the provisions of<br />
this Act.<br />
2 73 Tansitory provisions<br />
(1) Where a registered dealer holds the stock of any goods specified in Schedule II on<br />
the date of commencement of this Act, he shall furnish the particulars thereof in<br />
such form, within such period, in such manner and to such authority as may be<br />
prescribed.<br />
(2) Where any goods specified in Schedule II of this Act other than those specified in<br />
part III of the said Schedule purchased on or after 1st April, 2005 and held in stock<br />
by a registered dealer on the date of commencement of this Act are tax paid<br />
goods within the meaning of the Act repealed by this Act, and are for sale by him<br />
on or after the said date within the State of Madhya Pradesh or in the course of<br />
inter-state trade or commerce, he shall claim or be allowed in respect of such<br />
goods, in such manner and within such period as may be prescribed, an input tax<br />
rebate,-<br />
(i)<br />
(ii)<br />
at the rate as the State Government may, by *notification, specify, if such<br />
goods are for sale within the State; and<br />
at the rate specified in sub-section (1) of section 8 of the Central Sales Tax<br />
Act, 1956 (No. 74 of 1956) or the rate as the State Government may, by<br />
notification, specify, whichever is lower, if such goods are for sale in the<br />
course of inter-state trade or commerce.<br />
(3) (a) Where any goods specified in Schedule II of this Act held in stock by a<br />
registered dealer, on the date of commencement of this Act, are goods<br />
manufactured out of tax paid goods other than those specified in part III of<br />
the said Schedule consumed or used as raw material or used as packing<br />
material or used as explosives in mining and are for sale in the State of<br />
Madhya Pradesh or in the course of inter-state trade or commerce on or<br />
after the said date, such dealer shall claim or be allowed in such manner