Section 89

Section 89 of the Goa Value Added Tax Act, 2005. Notwithstanding anything contained in this Act, Rules or Notifications, but subject to such conditions as the Government may by general or special order in Official Gazette, specify, where the dealer to whom the benefit under the Goa Sales Tax Deferment-Cum-Net Present Value Compulsory Payment Schem

(1) Notwithstanding anything contained in this Act, Rules or Notifications, but subject to such conditions as the Government may by general or special order in Official Gazette, specify, where the dealer to whom the benefit under the Goa Sales Tax Deferment-Cum-Net Present Value Compulsory Payment Scheme, 115[2003] has been granted and when respective Net Present Value as provided in the said Scheme has been deposited in accordance with the provision of this Act or earlier law or rules made thereunder, the balance amount of net tax payable/output tax payable, shall be deemed to have been paid.

(2) The Government may modify the Goa Sales Tax Deferment-Cum-Net Present Value Compulsory Payment Scheme, 116[2003] or replace it by a new scheme as the circumstances may require and in that eventuality of modifying or replacing the said scheme, the benefit conferred on the eligible unit shall continue unless such eligible units opt to be out of the Scheme. 117[89A. Incentive Scheme to Industry .- (1) Notwithstanding anything contained in this Act or the Rules or notifications, issued thereunder, the Government may frame Scheme under this Act to grant some incentives to the Industrial units in the State;

(2) The Scheme framed by the Government under this sub-section (1) shall, as soon as may be after it is framed, be laid before the Legislative Assembly of Goa while it is in session for a total period of not less than fourteen days, which may be comprised in one session or two or more successive sessions, and shall, unless some later date is appointed, take effect from the date of its publication in the Official Gazette subject to such modification or annulment as the Legislative Assembly of Goa may, during the said period, agree to make, so however, that any such modification or annulment shall be without prejudice to the validity of anything previously done thereunder.]

Section 89, The Goa Value Added Tax Act, 2005 (Act 9 of 2005).