Rule 143

Any dealer executing works contracts or a dealer who is a hotelier or restaurateur or caterer, who has opted to pay tax by way of composition and has submitted returns for twelve consecutive months or any other dealer who has opted to pay tax by way of composition and has submitted returns for four consecutive quarters may withdraw his option and shall.-

(1) report to the jurisdictional Local VAT officer or VAT sub-officer by furnishing a final return in Form VAT 135 for the previous tax period accompanied by proof of full payment of the tax in accordance with rule 53 on the first day of the following month;

(2) surrender his certificate in Form VAT NIC; and

(3) be liable to pay tax under section 3 for the period starting from the first day of the month succeeding the month in which he withdrew his option.