17A. Treatment of the dealers who exercised option under sub-section (8B) of section 4 of the Act

(a) Every dealer, who opts to pay tax under sub-section (8B), shall register himself as VAT dealer.

(b) The VAT dealer in clause (a) shall notify to the prescribed authority his intention to avail composition under sub-section (8B) of section 4 of the Act in Form VAT 250.

(c) Any dealer, who opts to pay tax by way of composition under subsection (8B) of section 4 of the Act, shall pay the tax @5% on the total amount, received or receivable by him.

(d) The Form VAT 250 shall be submitted by the dealer within 30 days from the commencement of the business and then onwards by the end of the month of April every year.

Provided that the dealers, who are already registered, may file the Form VAT 250, within 60 days from the date of this notification with retrospective effect from the date of incorporation of subsection (8B) of section 4 of the Act.

(e) The dealers exercising option to pay tax under this Rule shall not be eligible to claim input tax credit and shall not be eligible to issue tax invoices;