(1) The State Government may, by notification and subject to such restrictions and conditions as may be specified therein, exempt whether prospectively or retrospectively,-

(i)(a) any class of dealers; or

(b) any goods or class of goods, in whole or in part,

from the payment of tax under this Act for such period as may be specified in the notification;

(ii) any dealer or class of dealers from any provision of this Act or any provision of a rule made under Section 71 for such period as may be specified in the notification.

(2) Any notification issued under this section may be rescinded before the expiry of the period for which it was to have remained in force and on such rescission such notification shall cease to be in force. A notification rescinding an earlier notification shall have prospective effect.

(3) Notwithstanding the repeal of the Chhattisgarh Commercial Tax Act, 1994 (CG Act No. 5 of 1995) (hereinafter referred to as the repealed Act) the State Government may, by notification exempt -

(i)(a) any class of dealers; or

(b) any goods or class of goods in whole or in part,

from the payment of tax under the repealed Act; or

(ii) any dealer or class of dealers from any provision of the repealed Act or the provision of any rule made thereunder,

for any period before the commencement of this Act and for that purpose it shall and shall always be deemed that the provision of Section 17 of the repealed Act have been revived for the purpose of such exemption.