GST India Solution

Ask a Query

Client Login

Welcome GST India Solution

26-A. Deduction of tax at source in respect of certain goods

26-A. Deduction of tax at source in respect of certain goods

(1) Notwithstanding anything contained in any other provision of this Act, every

registered dealer (the purchaser) who purchases such goods as may be

notified* by the State Government for sale or consumption from another

registered dealer, shall deduct input tax from the amount payable by him to

the selling registered dealer (the seller) for such purchase.

(2) On deduction of the amount under sub-section (1), the purchaser shall issue

a certificate of deduction of tax to the seller in such form and manner as may

be prescribed.

(3) The certificate of deduction of tax shall constitute a good and sufficient

discharge of the liability of the seller to pay tax in respect of such transaction

and the amount so deducted shall be adjusted by him in such manner as may

be prescribed and this certificate shall not be used for discharge of the

liability of any other transaction.

(4) No input tax rebate shall be claimed or be allowed in respect of the goods

notified under sub-section (1).

(5) In the event of disposal of,-

(a) (i) goods purchased; or

(ii) the goods specified in Schedule II, manufactured out of the goods

purchased,

otherwise than by way of sale within the State of Madhya Pradesh or in

the course of inter-state trade or commerce or in the course of export

out of the territory of India; or

(b) the goods specified in Schedule I, manufactured out of the goods

purchased, otherwise than by way of sale in the course of export out of

the territory of India,

the purchaser shall deposit the amount at the rate of 4 percent of the

purchase price, net of input tax, of the goods purchased.

(6) The provisions of Sections 18, 20, 21, 24, 25 and 39 shall mutatis mutandis

apply to the amount payable under sub-section (5).

(7) The purchaser shall retain as refund the amount deducted under sub-section

(1) which is equal to the amount of input tax rebate notionally admissible

under section 14 on such purchases.

GST RATES FINDER GST ACTS BOOK (DECODING GST) GST RULES GST PROVISIONAL REGISTRATION MODEL GST LAW LEVY OF TAX

Latest Articles

<--

WHAT IS GST?

GST i.e.Goods and Service Tax is a unified tax that replaces several indirect taxesleviedby the Central Government and the State Government(s)....

-->

BASIS OF CHARGE OF GST- SUPPLY

In pre-GST regime, goodswere liable to: (i) Excise Duty- on manufacture of goods; (ii) VAT/CST- on sale of goods; (iii) Entry tax- on ...

WHO IS LIABLE TO PAY TAX

GST is levied on every taxable person. Taxable person means a person who carries on any business at any place in India. Such . ..

WHAT IS TAXED UNDER GST

GST is a unified tax which is levied on: (i) goods; (ii) services and (iii) a mix of goods and/or services. Any supply of goods or services . .. ...

Who We Are

GST India Solution is an effort of firm of professionals who welcome implementation of GST. This is an interactiveplatformthat aspires to disseminate right knowledge to professionals, practitioners and public at large. This platform has beenfloatedbya firm of Chartered Accountants relentlessly working in field of direct and indirect taxes since early 1985.

Goods & Service Tax

Our core competence is statutory compliance, advisory, corporate tax planning and appellate matters of direct and indirect taxesandcorporate training sessions on GST.

The senior partner of the firm has to his credit several professional publications viz., Delhi Sales Tax Right to Use Goods Act, Delhi VAT, Maharashtra VAT, West Bengal VAT, Haryana VAT published by Taxmann. Madhya Pradesh VAT and Chhattisgarh VAT were published by Suvidha Law House, Bhopal. He has also addressed seminars on indirect taxes organized by professional bodies like ICAI, IMA, NIFM etc. and has also contributed articles on subjects of pro. . . . .