In section 26 of the Principle Act,- (i) for proviso to sub-section (2), the following proviso shall be substituted, namely:-
"Provided that if the value of labour involved in the contract is more than fifty per cent of the contract value and the contractor has not opted for composition under section 11-A, the deduction towards the tax payable shall be made at the rate of one per cent:
Provided further that no deduction shall be made in respect of any sale or purchase taking place outside the State of Madhya Pradesh or in the course of inter-State trade or commerce or in the course of import of goods into the territory of India:
Provided also that no deduction shall be made from any payment made to any sub-contractor by a contractor where the contractor has opted for composition under section 11-A.";
(ii) in sub-section (3), for the words "in the prescribed form", the words "in the prescribed form which is obtained in the prescribed manner" shall be substituted.
#LawyerServices #Section #Act #Law #Statute #IndianLaw #Kanoon