Amendment of section 8

In section 8 of the Principal Act: – (1) sub-section (1) shall be substituted by the following, namely, “(1) “The tax payable by a dealer liable to pay tax under section 7 of the Act shall be levied on his taxable turnover in respect of goods specified in the ‘Schedule’, at the first point of sale of such goods within the State, at the rate or rates specified therein.” (2) in sub-section (2), the words “or taxable contractual transfer price” and “or contractual transfer price” shall be omitted. (3) in sub-section (2), clause (a), clause (b) and clause (c) shall be omitted.