Credit notes and Debit notes 20

17

specified in this sub-section, input tax credit shall be allowed proportionate to the extent they are used for the purposes specified in this sub-section. (4) Input tax credit shall not be claimed by the dealer until the tax period in which the dealer receives the tax invoice in original containing the prescribed particulars of the sale evidencing the amount of the input tax: Provided that for good and sufficient reasons to be recorded in writing and in the prescribed manner, the Commissioner may allow such credit subject to such conditions and restrictions as may be prescribed. (5) A registered dealer who intends to claim input tax credit under sub- section (1) shall, for the purpose of determining the amount of input tax credit, maintain accounts, and such other records as may be prescribed in respect of the purchases and sales made by him in the State of Tripura. (6) No input tax credit under sub-section (1) shall be claimed or be allowed to a registered dealer - (i) in respect of any taxable goodsunder this Act purchased by him from another registered dealer for resale but give; away by way of free sample or gift; (ii) who has been permitted by the Commissioner for composition of tax at a percentage of the turnover of sales in lieu of VAT as provided under section 15; (iii) in respect of capital goods of traders in the initial year i. e. the input tax credit on capital goods would be confined to manufacturers; (iv) in respect of goods brought from outside the State against the tax paid in other States; (v) in respect of stock of goods remaining unsold at the time of closure of business; (vi) in respect of goods purchased on payment of tax, if such goods are not sold because of any theft, destruction or damage for any reason; (vii) where the tax invoice is - (a) not available with the dealer, or