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No.VAT/AMD-1005/ 17/Adm-3
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Trade
Cir. No. 11 T of 2008 |
Mumbai,
Dt.04.04.2008 |
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Sub: |
Preservation of the
record of the bills or cash memorandum on electronic system; Section 86(5) |
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Ref: |
Trade Circular No. 23T
of 2007 dated 12-3-2007 |
Gentlemen/Sir/Madam,
Trade Circular No. 23T of 2007 dated 12th
March, 2007 was issued in view of the sub-sections (5) of Section of 86 which
states that any dealer may apply to the Commissioner to permit him to maintain
the record of the bills or cash memorandum on such electronic system as may be
approved by the Commissioner. If such permission is granted, then the selling
dealer is exempted from the requirement of keeping counterfoils or duplicates of
the said bills or cash memoranda.
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As per above said
circular, one of the conditions for granting approval in terms of sub-section
(5) of section of 86 was that it will be granted in only those cases wherein
the number of bills or cash memoranda issued by the selling dealer in the
immediately preceding year has exceeded 10 lakh. Now it is decided to reduce
this limit of number of sale invoices issued from 10 lakh to 2.5 lakhs.
Needless to say that other conditions stipulated in the said circular are also
to be complied.
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All eligible
applications for grant of permission under section 86 (5) should be addressed
to the Desk Officer, Adm-29 in the office of the Commissioner of Sales Tax,
Maharashtra State, Mumbai.
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This circular
cannot be made use of for legal interpretation of provisons of law, as it is
clarificatory in nature. If any member of the trade has any doubt, he may
refer the matter to this office for further clarification.
You are requested to
bring the contents of this circular to the notice of all the members of your
association.
Yours faithfully,
(SANJAY BHATIA)
Commissioner of
Maharashtra State,
Mumbai. |
