State Act

The Daman and Diu Value Added Tax Regulation 2005

This Act was repealed on 26 January 2020 by the Dadra and Nagar Haveli and Daman and Diu (Repeal) Regulation, 2020 (5 of 2020), s.2(1) and Schedule item (1); it may still apply to matters that began before then.

17. If— (a) a registered dealer enters into a transaction with the related person for sale of goods or gives otherwise goods without adequate consideration to a related person; or (b) the terms or conditions of such transaction or sale or giving of goods have been influenced by seller being related with such person, the dealer shall not be entitled to a tax credit for the purchase of the goods or he shall be entitled to the proportionately reduced tax credit under sub—section (3) of section 9 and the transaction or sale or giving of goods shall be deemed to be a sale made by the registered dealer and the sale price of the goods shall be deemed to be their fair market value.