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

State of Madhya Pradesh - Subsection

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

(b)A registered dealer entitled to a set off under sub-clause (i) or sub-clause (ii) of clause (b) of sub-section (1) of Section 13 shall be eligible to such set off in respect of-
(i)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 registered dealer selling the goods to the registered dealer claiming the set off and the 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
(ii)75 percent of the price at which such goods were sold by the selling registered dealer to the registered dealer claiming the set off, if the 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.