(a)Where any goods specified in Schedule II of this Act held in stock by a registered dealer, on the date of commencement of this Act, are goods manufactured out of tax paid goods other than those specified in Part III of the said Schedule consumed or used as raw material or used as packing material or used as explosives in mining and are for sale in the State of Madhya Pradesh or in the course of inter-state trade or commerce on or after the said date, such dealer shall claim or be allowed in such manner 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.