Amendment status not verified — confirm the current text below against the official source.
In the principal Act, i.n 8,ectic;m 14, - ., .• "'fl· •\ ' . ' 1 ' "11 ,i;: (i) in $ub-section (3), for the words "The input tax credit", appearing in the ~giMing, the words 1~bj~t Jo other provisions of this sectio~ die' input tax- credit" shal~te· substituted; I • (ii) after sub-soctiori'~,; a'new sub-section (JA) shall be inserted, namely:- '· "(JA) Notwithstanding anything contained in this section. if goods, ot,~ than the·pxls' specified in the Fourth Schedule, which are wJt&Je , at th• rato of four percent or above under this Act. are sold in the · course of interstate trade or commerce to !\.registered dealer at the , .• C(?,ncessionaf rate of,~ · applicable urJder sub-section (1) of section 8 of the Central' Sales Tax Act, 195(), the input t8x credit shall be reduced,by the amount of tax calculated11¢~ rate of two percent of the purchase price excluding tax of such. goods or the raw materials and packing' materials used in the manufacture of such goods. Such input tax credit shalJ be reduced in the month in which such interstate sales take place."; (iii) in sub-section (6), - ~ (a) in clause (h), for the C:Jxisting proviso; 'the following shall be substituted, namely:- "Provided that input tax credit may be allowed for the tax paid in excess of the amount of tax calculate:d at the rate of four percent on the purchase price excluding tax of goods."; Assam ActVlll of2005. Central Act74 ort"6. '· Amendment or aectlon 74. Amend•ent of section 79. Amendment or Hctlon 89. Amendment or seetlQD 103 •. (b) in clauso (i), for the existing proviso, tho following shall be substituted, namely:- "Provided that input tax credit may be allowed for the tax paid in excess of the amount of tax calculated at tho rate of four percent on the purohaso price excluding tax of raw materials utilized in manufactute of goods.".