Vat Actupdated - RS Goyal & Associates

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of section 2 of the Act repealed by this Act. 2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Act repealed by Section 72, the State Government may within two years from the date of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