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Input tax credit or input tax rebate on the stock of goods, in case of dealers registered
under the Act after the appointed day.

22. (1) A registered dealer, other than a shipper of jute, an auctioneer, a broker, or any other agent, shall get input tax credit or input tax rebate on goods, other than capital goods, lying in stock with such dealer on the date of his incurring liability to pay tax under section 10, or section 11 or section 14 or sub-section (3) of section 24 or subsection (3) of section 27C and purchased within a period of twelve English calendar months and upto the date prior to such date of incurring liability, which are for resale or. for direct use in manufacturing, or for packing of the goods so resold or manufactured by him or for use in the execution of works contract or for making transfer otherwise than by way of sale subject to sub-section (7) of section 22:

Provided that no input tax credit or input tax rebate shall be available to a dealer on the goods lying in stock on the date prior to the date of registration when the dealer has not made the application for registration under sub-section (2) of section 23 within thirty days from the date of his incurring liability to pay tax under the Act:

Provided further that goods for which no price has been paid or is payable, or which was not purchased from within West Bengal, will be excluded from the opening stock:

Provided also that for ascertaining the value of opening stock of semi-finished goods or work in progress or finished goods, of a manufacturer, accepted method of accounting shall be followed by a dealer and the Commissioner or the officer authorised under subsection (1) of section 6 has to be satisfied that there is consistency in the method of determination of valuation of such stock by such dealer:

Provided also that if stock of goods of a dealer includes any stock of goods lying with the branch office or any agent outside the State of West Bengal, the dealer shall not be entitled to input tax credit or input tax rebate on such stock of goods which is lying with such branch or agent.

(2) For the purpose of availing input tax credit or input tax rebate as provided in sub-rule (1), a registered dealer shall produce before the appropriate assessing officer, evidence for payment of tax paid or payable at the time of purchase of those goods.

Provided that if the registered dealer fails to adduce any proof, to the satisfaction of the appropriate assessing officer regarding payment of tax at the time of purchases made before the appointed day but within the time-limit prescribed in sub-rule (1), the provisions of the first proviso to sub-rule (3) of rule 21 shall apply mutatis mutandis in calculating input tax credit or input tax rebate on such stock of goods.

Provided further that if the goods lying in stock of a registered dealer were purchased before the appointed day but within the time-limit prescribed in sub-rule (1), from another dealer who, at the time of such sale, had been enjoying deferment, exemption or remission, input tax credit or input tax rebate, shall be calculated on the basis as referred to in the first proviso.

(3) Notwithstanding anything contained in sub-rule (1), input tax credit or input tax rebate will be available only on stock of those goods that suffered any kind of tax under section 12, section 13, section 16, section 16A, section 16B, or section 17 of the West Bengal Sales Tax Act, 1994 ( West Ben. Act XLIX of 1994) prior to the appointed day or under any of the provisions of the Act and are taxable under the Act.

Provided that where a dealer has purchased goods by paying tax on maximum retail price under the provisions of the Act where such goods have suffered tax under subsection (4) of section 16, he shall not be entitled to any input tax credit or input tax rebate on such goods lying in his stock.

(4) A registered dealer intending to enjoy input tax credit or input tax rebate on goods lying in stock on the date of incurring liability, shall, within fifteen days from the date of registration, submit to the appropriate assessing authority, a statement giving

(a) list of goods, other than semi-finished goods and finished goods of a manufacturer, lying in stock, where tax invoice, invoice, cash memo or bill obtained at the time of purchase shows the tax separately;

(b) list of goods, other than semi-finished goods and finished goods of a manufacturer, lying in stock, where tax invoice, invoice, cash memo or bill obtained at the time of purchase does not show the tax separately; and

(c) a break-up of semi-finished goods and finished goods lying in stock of a manufacturer and the value of raw materials and consumable stores used for manufacturing such semi-finished or finished goods, as the case may be, in the following format:

STATEMENT OF STOCK OF GOODS AS ON______________

Name of the dealer :

Address :

Registration Certificate No.:

[Under the West Bengal Value Added

Tax Act, 2003].

(a) statement of goods, other than semi-finished goods and finished goods of a manufacturer, lying in stock, where tax invoice, invoice, cash memo or bill obtained at the time of purchase shows the tax separately

Rate of		Serial	Item	Name	Registr-	Invoice/	Quantity/	Purchase	Aggre-	Input
tax on		No.		and	ation	Bill No.	Number	value	gate	tax
the item				address	Certificate	with date	lying	(excluding	purch-	credit/
specified				of the	No. (if	of the	in stock	tax,	ase price	rebate
in				selling	any,) of	selling		surcharge	for	claimed
column(3)				dealer	the	dealer		addl.	indivi-	(Tax+
under					selling			Surcharge	dual	Sur-
					dealer			and	tax	charge
								eligible	rates	+
								TurnOver	[sub	Addl.
								Tax,	total]	Sur-
								if any)		charge
								of the		+elig-
								qty/no		ible
								lying in		Turn
								stock.		Over
								(Rs.)		Tax,
										if any)

the	the
Act	Wes
if	t
pur-	Ben
cha-	- gal
sed	Sale
on or	s
afte	Tax
r	Act
the	1994,
appo-	if
inted	any,
day.	purc-
	hased
	before
	the
	appo

(1)		(2)	(3)	(4)	(5)	(6)	(7)	(8)	(9)	(10)

@ 1%		(i)
		(ii)
		(iii)

@ 2%		(i)
		(ii)
		(iii)

@ 3%		(i)
		(ii)
		(iii)

@ 4%		(i)
		(ii)
		(iii)

@ 4.55%		(i)
		(ii)
		(iii)

@		(i)
4.80%		(ii)
		(iii)

@ 5%		(i)
		(ii)
		(iii)

@ 7%	(i)
	(ii)
	(iii)

@ 8%	(i)
	(ii)
	(iii)

@ 10%	(i)
	(ii)
	(iii)

@ 12%	(i)
	(ii)
	(iii)

@12.5%	(i)
	(ii)
	(iii)

@15%	(i)
	(ii)
	(iii)

@ 17%	(i)
	(ii)
	(iii)
@ 20%	(i)
	(ii)
	(iii)

@	(i)
	(ii)
	(iii)

@	(i)
	(ii)
	(iii)

@	(i)
	(ii)
	(iii)

(b) statement of goods, other than semi-finished goods and finished goods of a manufacturer, lying in stock, where tax invoice, invoice, cash memo or bill obtained at the time of purchase does not show the tax separately; and

Rate of

Serial

Item

Name

Registr-

Invoice/

Quantity/

Purchase

Aggre-

70%/

Input

tax

No.

and

ation

Bill No.

Number

value

gate

80%

tax

under

address

Certificate

with date

lying

of the

purch-

credit/

the

of the

No. (if

of the

in stock

quantity

ase price

the

Input

West

selling

any,) of

selling

/number

for

amo-

tax

Bengal

dealer.

the

dealer.

lying

indivi-

unt

rebate

Sales Tax

selling

in stock

dual

spec-

claimed

Act, 1994

dealer.

(Rs.)

tax

ified

(tax

on the

rates

items

[sub

column

Sur-

specified

total]

(9)

charge

in column

(3)

Addl.

under

Sur-

charge,

the

Act

Wes

if any)

pur-

Ben

cha-

- gal

sed

Sale

on or

after

Tax

the

Act

appo

1994,

inte

any,

purc-

day.

hased

befor

e the

appo

(1)

(2)

(3)

(4)

(5)

(6)

(7)

(8)

(9)

(10)

(11)

@ 1%

(i)

(ii)

(iii)

@ 2%

(i)

(ii)

(iii)

@ 3%

(i)

(ii)

(iii)

@ 4%

(i)

(ii)

(iii)

@ 4.55%

(i)

(ii)

(iii)

(i)

4.80%

(ii)

(iii)

@ 5%

(i)

(ii)

(iii)

@ 7%	(i)
	(ii)
	(iii)

@ 8%	(i)
	(ii)
	(iii)

@ 10%	(i)
	(ii)
	(iii)

@ 12%	(i)
	(ii)
	(iii)

@12.5%	(i)
	(ii)
	(iii)

@15%	(i)
	(ii)
	(iii)

@ 17%	(i)
	(ii)
	(iii)

@ 20%	(i)
	(ii)
	(iii)

@	(i)
	(ii)
	(iii)

@	(i)
	(ii)
	(iii)

@	(i)
	(ii)
	(iii)

Total

		Raw materials			Consumable		Others,	Direct	Over-	Total
		consumed			Stores consumed		if any	Labour	head

	Purchase from		Purchase	Purchase from		Purchase
	West Bengal		from	West Bengal		from
			outside			outside
			West Bengal			West

	Tax	Tax not		Tax	Tax not
	charged	charged		charged	charged

Semi-
finished
goods

Finished
goods

Total

Certified that the details given above are true to the best of my knowledge.

Signature _____________________

Name : ________________________

Status : ________________________

(5) Where the value of goods declared in the statement referred to in sub-rule (4) exceeds rupees twenty lakh in case of a reseller or, ten lakh rupees in case of a manufacturer or works contractor, the same should be certified by a practicing Chartered Accountant enrolled as a member of the Institute of Chartered Accountants of India.

(6) No input tax credit or input tax rebate will be available to a registered dealer in the first seventy-five days after the date of filing of statement of stock as referred to in sub-rule (4).

(7) The appropriate assessing authority shall, within forty-five days from the date of receipt of the statement referred to in sub-rule (4), make an order determining the amount of input tax credit or input tax rebate that the dealer is entitled to enjoy upon such stock of goods and shall communicate the same to such dealer within fifteen days from the date of such order.

(8) Input tax credit or input tax rebate shall be allowed on opening stock, as referred to in sub-rule (1), in six equal monthly installments from the month following the expiry of seventy-five days as referred to in sub-rule (6).

(9) If any stock of goods eligible for input tax credit or input tax rebate under subrule (1) is sold by the dealer within four months from the date of registration, the tax invoice evidencing sale of such goods shall also be preserved by such dealer for inspection and verification by the appropriate assessing authority or any other officer appointed under sub-section (1) of section 6.

(10) No input tax credit or input tax rebate shall be available to a dealer on the stock of goods for which a statement as referred to in sub-rule (1) has not been filed within a period of ninety days from the date of order of granting registration.

Explanation.-For the purpose of this rule-

(a) opening stock of goods for a manufacturer shall include stock of, raw materials, consumable stores, semi-finished goods or work in progress, finished goods and, packing materials of finished goods;

(b) tax rate to be considered for credit or rebate will be the actual rate at which tax was paid or payable at the time of purchase of the goods irrespective of the rate under the Act.