Rule 54

(1) Where the Government has permitted an eligible industrial unit for deferment of tax under section 42, such deferment of tax shall be.-

(a) given to that eligible industrial unit as certified by the Director of Industries and Commerce or his nominee;

(b) restricted to the tax payable on the sale of goods manufactured by such industrial units; and

(c) restricted to such amounts and such period as specified in the relevant Government Order.

(2) The officer authorized by the Commissioner in this behalf may verify the validity of any certificate or claims relating to the tax concession.

(3) The tax referred to in sub-rule (1) shall include any tax payable according to any assessment, re-assessment, appeal or revision under the provisions of the Act.

(4) The jurisdictional Joint Commissioner of Commercial Taxes shall issue a 'Certificate of Entitlement' in Form VAT 160 regarding the deferment of any tax payable by an industrial unit.

(5) The amount of tax deferred shall be paid by the industrial unit after the expiry of the deferred period in such instalments as specified in the Certificate.

(6) The tax deferred under the provisions of this rule shall be immediately recoverable at any time prior to the expiry of the period of deferment if the unit contravenes any of the provisions of the relevant Government Order or the conditions of the Certificate of Entitlement, or if the Certificate is cancelled or revoked by the issuing authority.

(7) The Government may permit, by an order, an industrial unit to pay deferred tax within the specified deferred period at a discounted rate as may be specified.