Amendment status not verified — confirm the current text below against the official source.
Substituted by Act No.34 of 2006. Act VI of 1957. 34 [Act No.5 of 2005] (4) A VAT dealer shall not be entitled for input tax credit or sales tax credit in respect of the purchases of such taxable goods as may be prescribed. (5) No input tax credit shall be allowed on the following,- (a) works contracts where the VAT dealer pays tax under the provisions of clauses (b) 51[XXX] and (d) of sub- section (7) of section 4; (b) transfer of a business as a whole; (c) sale of exempted goods except when such goods are sold in the course of export or exported outside the territory of India; (d) exempt sale; (e) transfer of exempted goods on consignment basis or to branches of the VAT dealer outside the State otherwise than by way of sale; 52[(f) the purchase of any goods by an agent for supply of such goods to his resident principal;] 53[(g) the transactions on which VAT dealer pays tax under sub-section (8A) 54[or sub-section (8B)] of section 4 of the Act; (h) the supply or sale of goods, on which a VAT dealer pays tax under clause (b) and (d) of sub-section (9) of section 4 of the Act.]