Power to exempt

¹ Renumbered by Act 18 of 1994 w.e.f. 1.4.1994.

1[(1)]1 The State Government may, by notification, make an exemption or reduction in the rate of tax payable by any specified class of persons subject to such restrictions and conditions as may be specified in the notification. 1[(2) The State Government may, by notification, cancel or vary a notification issued under sub-section (1).

1. (3) Any notification issued under sub-section (1) shall be valid until it is cancelled under sub-section (2), notwithstanding that the tax payable in accordance with such notification in respect of any specified class of persons is modified by an amendment to this Act.]1

¹ Inserted by Act 18 of 1994 w.e.f. 1.4.1994.