Amendment status not verified — confirm the current text below against the official source.
THEASSAM GAZETTE, EXTRAORDINARY, AUGUST 26,2016 referred to as seller) located within the State, the wholesale warehouse licensee or any other dealer, who purchases such items from such seller, shall be liable to pay tax on purchase of such items on the price consideration including excise duty. Such wholesale warehouse licensee or any other dealer purchasing such items shall make pre-payment of the tax payable under this Act into the Govemment Account in the prescribed mannerby a separate challan and hand over one copy of the challan to such seller before removal of such items from the possession of the seller. (I C) Notwithstanding anything contained in this Act, in case of potable liquor mentioned in the Fourth Schedule, except country spirit. if the first sale of such items is made by an importer/wholesale warehouse licensee inside the State. he shall be liable to pay tax on sale of such items. Such importer/wholesale warehouse licensee shall. before importing a consignment of liquor inside the State, deposit an amount in advance equivalent to the amount of tax on the estimated sale price of such liquor. In the case of stock transfer, no gross profit shall be considered for the purpose of computing the estimated sale price. Such amount shall be deposited into the Government Account in the prescribed manner by a separate challan and one copy of such challan, along with the challan showing pre- payment of excise duty, shall be handed over to the State Excise Authority before issuance of 'import permit' of liquor. The importer/wholesale warehouse licensee shall, however, be eligible to take credit of the advance amount paid during a month against the tax liability arising on the sale of liquor made during the same month while furnishing the relevant tax return. (1D) Notwithstanding anything contained in this Act, a wholesale warehouse licensee or any other dealer, who purchases such items from a manufacturer/bottling unit/distilleries/breweries (referred to as seller) and is liable to pay tax on his purchase or an importer/wholesale warehouse licensee, who is liable to pay tax on his sale, under this section, as the case may be, may, at his option, pay tax on Maximum Retail Price (MRP) basis without any deduction, at the rate specified in entry lOA of the Fourth Schedule, in lieu of tax payable on actual sale price at the rate specified in entry 10 of the Fourth Schedule. Once an option is exercised, it shall be binding for that year and subsequent years, until such dealer withdraws his option in writing." 1333 shall be substituted, 1334 THEASSAMGAZETTE,EXTRAORDINARY, AUGUST 26,2016 (iii) for sub-section (2), the following namely:- "(2) Where the goods contained in container or packed in packing materials are tax free, the sale of such container or packing materials shall also be exempt from tax."; = Amendment of section 20. Amendment of section 62. (iv) in sub-section (3), - (a) in clause (i), after second proviso, for the punctuation mark H.", the punctuation mark H:" shall be substituted and thereafter the following new proviso shall be inserted, namely:- "Provided also that the provision of this sub-section shall only be applicable in respect of sale transaction between registered broker and registered buyer of Guwahati Tea Auction Centre and subject to the condition that such buyer is also registered under this Act."; (b) in clause (iii), for the words, HA dealer" appearing before the punctuation mark ",", the words "A registered dealer" shall be substituted;