Amendment of section 72

For sub clause

1. (b) of clause
   • (i) of section 72 of the Principal Act, the following shall be substituted, namely:- "(b) any right, privilege, obligation or liability acquired, accrued or incurred under the repealed Act, including the facility of exemption from payment of tax/deferment of payment of tax extended to any registered dealer under that Act for his having established new industrial unit in the state or undertaken expansion, modernisation or diversification in such industrial unit. Provided that the facility of exemption from payment of tax / deferment of payment of tax extended to any registered dealer under that Act for his having established new industrial unit in the state or undertaken expansion, modernisation or diversification in such industrial unit, shall be suitably amended / modified as per the provisions of this Act. For this purpose the state government may issue fresh notification or amend the notification issued under the repealed Act."