Section 4
கருத்துகள் மற்றும் உதவிஅதிகாரப்பூர்வ ஆங்கில மொழிபெயர்ப்பு. சிங்கள அல்லது தமிழ் உரையிலிருந்து வேறுபடும் இடங்களில் எந்த உரை மேலோங்கும் என்பதைச் சட்டமே குறிப்பிடுகிறது.
Section 48 of the principal enactment is hereby repealed, and the following section substituted therefor :—
“ Deduction
48. Where any registered manufacturer other has paid to the Director-General of Customs,
Director-under section 12
during any quarter
General
.
of any turnover tax
In respect of
Customs.
articles used by such manufacturer in his business of manufacture of articles, such turnover tax shall be deducted from any turnover tax payable by him, for that quarter in respect of the turnover arising from the sale of articles manufactured by him:
Provided that—
no deduction shall be made for any turnover tax so paid—.
in respect of any plant, machinery, fixture, vehicle, building or other capital asset used in that business
;
in any quarter commencing prior to April 1, 1989, in respect of any article used in any business of manufacture of excepted articles ;
in respect of any article used in any business which is exempt from turnover tax under section 4;
unless such registered manu-facturer has obtained from the
Director-General of Customs, a voucher in respect of turn-over tax so paid ; and
(i) where the amount of the deduc-tion for any quarter ending on or before March 31, 1989, exceeds the amount of the turnover tax payable for that quarter in res-pect of such turnover, such excess shall not be refunded but shall be deducted to the extent it can be so deducted from the turn-
‘
over tax, in respect of such turnover, payable for the quarter immediately succeeding that quarter and any balance of such excess from the turnover tax, in respect of such turnover, payable for the next succeeding quarter and so on; and
where the amount of the deduction for any quarter commencing on or after April 1, 1989, exceeds the amount of the turnover tax, payable for that quarter in respect of such turnover, such excess shall be deducted, to the extent it can be so deducted from. the turnover tax in respect of such turnover, payable for the quarter immediately succee-ding that quarter, and any
Amendment balance of such excess from the turnover tax, in respect of such turnover, payable for the next succeeding quarter and so on.
Any residue of such excess which cannot be deducted from the turnover tax, in respect of such turnover, payable for the fourth
' quarter reckoned from the quarter in which such excess arose, shall subject to the provi-sions of section 49 be re-funded. ”.