Tax exemption for sale of high-speed diesel by registered dealers to manufacturers and works contractors modified

The Rajasthan Finance Department vide its notification dated 27th May 2020 has amended its earlier notification dated 20th December 2019 on an exemption from the tax payable on the sale of High Speed Diesel (HSD), by a registered dealer to manufacturers and works contractors registered under the Rajasthan Goods and Service Tax Act, 2017.

As per the earlier notification in condition No.4 which provides grants exemption to the purchase in that financial year to the extent of his total HSD purchased in the preceding financial year, which has been substituted through this amendment as “Such exemption shall be available to single registered taxpayer and not to a collective group of taxpayers”.

Further, Under Condition 8 The purchaser shall generate a declaration in Form VAT-72 electronically through the website of the commercial tax department and furnish a duly signed copy FORM VAT-72 so generated to the selling oil marketing company “within fifteen days from the end of the quarter in which the said purchase has been made and the selling company shall not make any further concessional sale to the said purchaser till the said form is furnished