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MADHYA PRADESH VALUE ADDED TAX ACT, 2002 - NOTIFICATION
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NOTIFICATION NO. F-A-3-195/1/V(39)., Dated 14th June, 2006

In exercise of the powers conferred by sub-clause (e) of clause (i) of section 72 of the Madhya Pradesh Vat Adhiniyam, 2002 (No. 20 of 2002) (hereinafter referred to as the Vat Adhiniyam) and sub-section (5) of section 8 of the Central Sales Tax Act, 1956 (No. 74 of 1956), the State Government hereby, makes the following amendments in this department's notification No. F-A-3-195-2005-1-V(31) dated 31.03.2006, namely :-

AMENDMENTS

In the notification,-

(i) In clause (6) of Para 3, for the words "Schedule II transferred outside the state, of the Vat Adhiniyam" the words "Schedule II of the Vat Adhiniyam are transferred outside the state" shall be substituted.

In clause (6) of Para 3, for the words and figure "The amount equal to the input tax at the rate of 4 percent, which is realised for this type of transactions", the words "The amount equal to the input tax at the rate at which it is realised for this type of transactions" shall be substituted ;

(ii) After clause (6) of Para 3, the following clause shall be inserted, namely :-

"(7) The dealer shall be eligible to first adjust the balance of input tax rebate, if any, against any other tax liability of self and to transfer the remaining balance for adjustment against the tax liability of any other registered dealer, if desired. The dealer shall make an application to the assessing authority along with return giving details of tax liability of self or the registered dealer in whose favour the balance of input tax rebate is to be adjusted or transferred. The assessing authority shall make the assessment in accordance with the provisions of clause (b) of sub-section (1) of section 20 of the Vat Adhiniyam and after determining the balance of input tax rebate, adjust or transfer the balance by issue of refund adjustment order. The provisions of section 37 of the Vat Adhiniyam shall mutatis mutandis apply to such adjustment."