(3)Where as a result of any amendment in sub-section (1), if a dealer ceases to be liable to be registered and to pay tax and opts for de-registration, he shall be liable to pay tax in respect of any goods purchased by him at a concessional rate of tax or without paying any tax on the strength of any declaration furnished by him as a registered dealer, on the purchase price of such goods at the full rate of tax applicable thereto after adjusting the tax, if already paid by him, in respect thereof.Explanation. - Full rate of tax for the purpose of this act means the rate of tax notified under sub-section (1) of Section 4.
