(4)The collection of tax shall not be made by the authorised dealer in respect of receipt specified in sub-section (1) (Table: Sl. No.7),—(a)on such amount on which tax has been collected by the seller in respect of receipt referred to in sub-section (1) (Table: Sl. No.8);(b)if the amount being remitted out is a loan obtained from any financial institution as defined in section 129(3)(b), for the purpose of pursuing any education.
