|26-A. Deduction of tax at source in respect of certain goods|
26-A. Deduction of tax at source in respect of certain goods
(1) Notwithstanding anything contained in any other provision of this Act, every
registered dealer (the purchaser) who purchases such goods as may be
notified* by the State Government for sale or consumption from another
registered dealer, shall deduct input tax from the amount payable by him to
the selling registered dealer (the seller) for such purchase.
(2) On deduction of the amount under sub-section (1), the purchaser shall issue
a certificate of deduction of tax to the seller in such form and manner as may
(3) The certificate of deduction of tax shall constitute a good and sufficient
discharge of the liability of the seller to pay tax in respect of such transaction
and the amount so deducted shall be adjusted by him in such manner as may
be prescribed and this certificate shall not be used for discharge of the
liability of any other transaction.
(4) No input tax rebate shall be claimed or be allowed in respect of the goods
notified under sub-section (1).
(5) In the event of disposal of,-
(a) (i) goods purchased; or
(ii) the goods specified in Schedule II, manufactured out of the goods
otherwise than by way of sale within the State of Madhya Pradesh or in
the course of inter-state trade or commerce or in the course of export
out of the territory of India; or
(b) the goods specified in Schedule I, manufactured out of the goods
purchased, otherwise than by way of sale in the course of export out of
the territory of India,
the purchaser shall deposit the amount at the rate of 4 percent of the
purchase price, net of input tax, of the goods purchased.
(6) The provisions of Sections 18, 20, 21, 24, 25 and 39 shall mutatis mutandis
apply to the amount payable under sub-section (5).
(7) The purchaser shall retain as refund the amount deducted under sub-section
(1) which is equal to the amount of input tax rebate notionally admissible
under section 14 on such purchases.
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