Section 3   [ View Judgements ]

Amendment of section 11

In section 11 of the principal Regulation,-

(1) in sub-

section (2), for clause (b), the following clause shall be substituted, namely :-

"(b) in case the tax period for the dealer is monthly, carry forward the surplus amount, if any, after making adjustments under clause (a) to the next tax period of the same quarter" ;

(ii) for sub-

section (3), the following sub-section shall be substituted, namely :-

"(3) Where the net tax of the dealer at the end of the quarter in a financial year is a negative value, the dealer shall be entitled to claim a refund of any excess amount of tax and the Commissioner shall deal with the claim of refund in the manner specified in sections 38 &; 39 :

Provided that the dealer may opt to adjust the refund under this sub-section as a tax-credit in any succeeding tax period within the same financial year"

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