7. Amendment of Section 18, Rajasthan Act No. 4 of 2003.
- In Section 18 of the principal Act,-(i)for the existing clause (g) of sub-section (1), the following shall be substituted, namely:-"(g) being used in the State as capital goods in manufacture of goods other than exempted goods,";(ii)after the existing clause (ii) and before the existing clause (iii) of sub-section (3), the following shall be inserted, namely:-"(iia) of goods taxable at first point in the series of sales, from a registered dealer who pays tax at the first point;Explanation. - For the purpose of this clause, "first point in the series of sales" means the first sale made by a registered dealer in the State; or"; and(iii)after the existing sub-section (3) and before the existing sub-section (4), the following new sub-section shall be inserted, namely:-"(3A) Notwithstanding anything contained in this Act, where any goods purchased in the State are subsequently sold at subsidized price, the input tax allowable under this section in respect of such goods shall not exceed the output tax payable on such goods.".
