Dvat department introduce a reward scheme to encourage market / trade association for payment of due tax. A portion of the VAT collected in addition to the target from the markets/localities shall be made available for the maintenance and up-gradation of that market to foster business and trade.
The market association, registered under the Society Registration Act 1861, must have at least 50 registered members to be eligible for the reward. The number of members would be frozen at the beginning of the scheme and thereafter at the end of April of each financial year. More than 50% of the members should be registered with the department. The office bearers of the association should be elected through the process of election in accordance with the constitution of the association. Not more than 5% of the registered members should have defaulted in return filing. KCS, liquor, tobacco and petroleum dealers are excluded from the ambit of this scheme.
The association has to register itself online on the website of the department and upload the list of members with their TIN, Name & Address. If a dealer is a member of more than one market association, the said member can associate with only one market association. Cancelled dealers cannot participate in any association for the purpose of this scheme. Members should be from ward area only.
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