THE SECOND SCHEDULE
(See sub-section (5) of section 3)
Explanation I - For the purpose of levy of tax at the second point of sale in the State for the item in Sl.No.2, the turnover of the goods liable to tax shall be arrived at by deducting the turnover of such goods on which tax has been levied at the first point of sale.
Explanation II- For the purpose of petroleum products of this Schedule, a sale by one oil company to another oil company shall not be deemed to be the First sale in this State and accordingly any sale by one oil company to another person (not being an oil company) shall be deemed to be the First sale in the State.
Explanation III - For the purpose of Explanation II, 'Oil Company' means (a) Chennai Petroleum Corporation Limited (b) The Indian Oil Corporation Ltd. (c) The Bharat Petroleum Corporation Ltd. (d) The Hindustan Petroleum Corporation Ltd. (e) Indo-Burma Petroleum company Ltd. (f) Kochi Refineries Limited and includes any other oil company notified in this behalf by the Government in the Tamil Nadu Government Gazette.