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In exercise of the
powers conferred by section-8A of the Karnataka Sales Tax Act, 1957 (Karnataka
Act 25 of 1957), the Government of Karnataka hereby reduces with immediate
effect, the tax payable under the said Act to "Nil" on the sale of raw
materials, component parts, packing materials, consumables (excluding petroleum
products like petrol, diesel furnace oil, napthin and Low Sulphur Heavy Stock),
machinery and equipment spares material handling equipment, intermediaries,
semi finished goods and sub-assemblies by a registered dealer in One Hundred
per cent Export Oriented Units located with in the State subject to the
following conditions and restrictions namely:-
| i)
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Such
goods are put to use by the One Hundred percent Export Oriented Unit in the
manufacture of goods for export:
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| ii)
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The
time limit for use of such goods in the manufacture of goods for export shall
be before the expiry of the accounting year immediately succeeding year in
which the goods are purchased:
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| iii)
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The
One Hundred per cent Export Oriented Unit shall export its entire production of
goods subject to relaxation permitted by Government of India from time to time:
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| iv)
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Where
for any reason the One Hundred per cent Export Oriented Unit fails to comply
with the condition (iii) above, it shall forthwith cease to be eligible for the
benefit of this Notification:
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| v)
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Where
for any reason the restriction or condition stipulated under (i), (ii) and
(iii) above is contravened or not complied with, either wholly or partly, the
provisions of clauses ((a) and (b) of sub-section (5) of Section 8-A of the
said Act shall apply and the Hundred per cent Export Oriented Unit shall be
liable to pay an amount equal to the tax payable at the rates prescribed under
the said Act, on such purchases in respect of which such contravention or
non-compliance has taken place. The amount so payable shall be deemed to be
amount due for the purposes of Section 13 of the said Act.
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| vi)
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Registered
dealer effecting the sales to One Hundred per cent Export Oriented Unit shall
produce before the assessing authority a declaration in the enclosed format
signed by the said Export Oriented Unit.
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| vii)
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The
One Hundred per cent Export Oriented Unit seeking this facility shall produce
before the assessing authority, a Certificate issued by the authority
authorized by the Government of India certifying that it is registered as a One
Hundred per cent Export Oriented Unit. The said Certificate shall be produced
in proof of its being valid in each assessment year within sixty days of
commencement of the assessment year.
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