Adjusasnt (o

1. (1) Where any purchaser has been provided by the seller with a credit note or debit 'Mcrcdit, note under section 51 or if be returns or rejects goods purchased, as a consequence of which R

the tax credit, claimed by him in any tax period in respect of which the purchase of goods

relates, becomes short or excess, he shall compensate such shortfall or excess by adjusting d

the amount of the tax credit allowed to him in respect of the tax period in which the credit

note or debit note had been issued or goods are returned.

1. (2) If goods which have been purchased were ,-
   • (a) intended to be used for any of the purposes specified under sub-section (I) of section 9 but are subsequently used, fully orpartly, for purposes other than those specified under the said sub-section; or
   • (b) intended for purposes other than those specified iinder sub-section (1) of section 9, but are subsequently used, !idly or partly, for any ofthepurposesspecified in the said sub-section,

the tax credit claimed in respect of such purchase shall be reduced or increased, as the case

may be, for the tax period during which the said utilisation has taken place.

1. (3) Where-
   • (a) the goods were purchased by a dealer;
   • (b) the dealer claimed a tax credit in respect of the goods, and the amount of tax credit has not been reduced under sub-section (6) of section 9; and
   • (c) the goods are exported from Daman and Diu, other than by way of a sale, to a branch of qe dealer or to a consignment agent, the dealer shall reduce, by the proportion prescribed under sub-section (6) of section 9, the amount of tax credit initially claimed by him.
2. (4) If goods, which have been purchased by a dealer,-
   • (a) were intended to be used for any of the purposes specified under sub-section
3. (1) of section 9; and
   • (b) are subsequently used as a part of structure of a building owned or occupied by him, the tax credit claimed in respect of such purchase shall be reduced in the tax period during which such use takes place. ca~cu~arion of 11. (])The net tax payable by a dealer for a tax period shall he the amount calculated 6; net lax. by the formula given below:- Where-

tax period, after making any adjustments to the tax as required by section 8;

I = the amount of the tax credit arising during the tax period to which the person is

entitled under section 9, after making any adjustments to the tax credit as required by section 10;

SERIES - I No. : 05 DATED 18" AUGUST, 2005. C = the amount, if any, brought forward #kom the previous tax period under sub- section (2). (2)

Where the net tax of a dealer calculated for a tax period under sub-section (I)

amounts to a negative value, the dealer shall-

1. (a) adjustthe said amount in the same tax period against the tax payable by him 74 of 1956. under the Central Sales Tax Act, 1956, if any; and
2. (b) carry forward the surplus amount, if any, after making adjustments under clause
3. (a) to the next tax period within the same fmancial year.

1. (3) Where the net tax of the dealer at the end of the financial year is a negative value, the dealer shall be entitled to claim arehd ofany ex- amount oftaxand the Commissioner shall deal with claim of

rehd in the manner specified in sections 38 and 39: