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[Cites 0, Cited by 0] [Section 29(2)] [Section 29] [Entire Act]

State of Madhya Pradesh - Subsection

Section 29(2)(a) in The M.P. Vanijyik Kar Niyam, 1995

(a)Where a registered dealer has purchased any tax paid goods from another such dealer for consumption or use as raw material or for use as incidental goods and has consumed or used them for the said purpose, he shall be eligible to a set off, in respect of-
(i)the price at which such goods were sold by such selling registered dealer exclusive of tax, if the goods so purchased have borne tax at the hands of the selling registered dealer; or
(ii)the price on which such goods had borne tax at the hands of the first selling registered dealer exclusive of tax if the goods are tax paid at the hands of the last selling registered dealer and the purchasing registered dealer claiming the set off furnishes evidence with regard to the quantum of such price at the hands of the first selling registered dealer, who had paid the tax on the sale of such goods; or
(iii)75 per cent of the price at which such goods were sold by the last selling registered dealer, if such goods were tax paid in his hands and the purchasing registered dealer claiming the set off is not able to furnish evidence with regard to the quantum of such price at the hands of the first selling registered dealer who had paid the tax on the sale of such goods.