The Government of Goa on October 10, 2023, issued a notification regarding the Goa Value Added Tax (Second Amendment) Act, 2023.
The following has been stated: -
•In sub-section (1) of Section 18 the following has been amended now it reads as: - “(1) Every dealer who is engaged in the business of sale of goods shall be liable to pay tax under this Act on his turnover of sales until such liability ceases under sub-section (3).
•Upon registration, the dealer would be eligible for the benefit of Input Tax Credit on goods held in stock, which were purchased within 3 months prior to the date of registration, in accordance with Section 9(4) of the said Act.
•Attention of dealers is also invited to Section 44 of the said Act, which provides that a person who fails, to apply for registration as required under Section 18 of the said Act is guilty of an offense and liable on conviction for a fine which may extend to Rs. 25,000/- or to imprisonment for a term which may extend to three months, or both.
•Every person dealing in ‘goods’ defined under the said Act, including alcoholic liquor for human consumption, is liable to get registered under the said Act within a period of 90 days i.e. by December 20, 2023, irrespective of his turnover of sales.
The detailed notification is attached in the document given below.
[Notification No.CCT/26-2/2023-24/2280]
