Vat Actupdated - RS Goyal & Associates
Vat Actupdated - RS Goyal & Associates
Vat Actupdated - RS Goyal & Associates
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77<br />
and within such period as may be prescribed, an input tax rebate in respect<br />
of such tax paid goods, at the rate as the State Government may, by<br />
*notification, specify.<br />
(b) Where any goods specified in Schedule II other than those specified in part<br />
III of the said Schedule purchased by a registered dealer on or after 1st<br />
April, 2005 and held in stock on the date of commencement of this Act are<br />
tax paid goods for consumption or use as raw material for/in the<br />
manufacture or processing or mining of or for use as packing material in<br />
packing of or for use as explosives in mining of, any goods specified in<br />
Schedule II for sale by him in the State of Madhya Pradesh or in the course<br />
of inter-state trade or commerce, such dealer shall claim or be allowed, in<br />
such manner and within such period as may be prescribed, an input tax<br />
rebate at the rate as the State Government may, by *notification, specify.<br />
(4) The sale of goods specified in part III of Schedule II of this Act which are in the<br />
nature of tax paid goods, on or after the said date shall not be liable to tax under<br />
this Act.<br />
(5) The provisions of sub-section (5) of section 14 shall mutatis mutandis apply to<br />
input tax rebate that may be claimed or allowed under sub-sections (2) and (3).<br />
(6) No input tax rebate under this section shall be claimed or be allowed to a<br />
registered dealer who opts for composition under section 11.<br />
(7) Input tax rebate under this section shall be allowed only after determination by<br />
Commissioner in such manner and within such time as may be prescribed.<br />
Explanation.— For the purpose of this section the expressions "raw material" and "tax<br />
paid goods" shall have the meaning assigned to them in clauses (r) and (x), respectively,<br />
of section 2 of the Act repealed by this Act. 2<br />
74. Powers to remove difficulties :<br />
If any doubt or difficulty arises in giving effect to any of the provisions of this Act in<br />
consequence of the transition to the said provisions from the corresponding provisions of the<br />
Act repealed by Section 72, the State Government may within two years from the date of<br />
commencement of this Act by order notified in the official Gazette of the State make such<br />
provision not inconsistent with this Act as appear to be necessary or expedient for removing<br />
the doubt or difficulty.<br />
2 SCHEDULE I<br />
(See section 16)<br />
S.No. Description of goods Conditions and<br />
exceptions<br />
(1) (2) (3)<br />
1. Agricultural implements manually operated or animal<br />
driven, that is to say-<br />
(1) Axes (2) Bill hooks (All kinds)<br />
(3) Bund former (4) Cane juice boiling pan<br />
(5) Cart (6) Chaff cutters and parts<br />
thereof<br />
(7) Clod crushers (8) Cultivators<br />
(9) Dibbler (10) Ditcher<br />
(11) Fertilizer/seed caster (12) Flame gun<br />
(13) Groundnut decorticator (14.)Harrows (all kinds)<br />
(15) Hoe (all kinds) (16.)Junor