“For the purpose of working out input tax credit, the input tax credit on the closing stock available with the dealer at the end of every tax period shall be carried forward to the next tax period or the following tax period or periods, as the case may be, till such stock is sold by the dealer.”
Also the dealer can claim refund in the following case only:-
1) Export sales
2) Dealer making inter state sales
3) In cases where the dealer being a manufacturer is making purchases at higher rate of tax while the sales of goods manufactured by him (not being exempt under section 6) are taxable at the lower rate under the Act.
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