3[8B. Drawback, set off or refund under
section 4A.—
(1)
While assessing the amount of tax in respect of any period starting on or after
the 1st April 2001, payable by a Registered dealer "(hereinafter referred
to in this rule as "the claimant dealer"), the Commissioner shall in
respect of any goods purchased by the claimant dealer on or after the said
date, grant him a set-off, draw-back, or refund as provided herein.
(2) (a)
If the purchase price of the goods is liable to be included in the gross
turnover of purchases of the said dealer under the Bombay Sales Tax Act, 1959,
then the Commissioner shall grant the claimant dealer a drawback, set-off or
refund of the aggregate of the sums determined in accordance with the
provisions of rule 44D of the Bombay Sales Tax Rules, 1959:
Provided
that, the set-off granted under this clause shall not exceed 4 per cent of the
purchase price.
(b) If
the sale price of the goods purchased is liable to be included in the gross
turnover of sales of the vendor for the purposes of this Act, then the
Commissioner shall grant the claimant dealer a drawback, set-off or refund of
the tax collected separately from the claimant dealer by the vendor making the
sale:
Provided
that, the set-off granted under this clause shall not exceed the tax charged on
the transaction of sale by the vendor making the sale to the claimant dealer.
(3) A
claimant dealer who by virtue of this rule becomes entitled in any period to a
sum by way of drawback, set-off or refund, may, subject to any other provision
made in this behalf, adjust such sum against the tax payable according to the
return relating to the said period.
Provided
that, where the sum admissible or such adjustment is in excess of the tax
payable in respect of such period, then the said dealer shall adjust such excss
against the tax payable according to the return for any subsequent period and
not claim it by way of refund in respect of the period in which such drawback,
set-off or refund becomes admissible, or any period subsequent thereto:
Provided
further that, if the certificate of registration of the claimant dealer is
cancelled with effect from any date, then the claimant dealer shall be entitled
to claim such excess, by way of refund, in the return relating to the period
containing the said date of cancellation.]
2. The words "section 4 of" was deleted by G.N. of 7-9-2001.
3 Rule 8B was inserted by G.N. of
7-9-2001.