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52A. Set-off in respect of goods manufactured by certain dealers covered under the various packages scheme of incentives

Notwithstanding anything contained in rules 52 and 53,-

(1) If the claimant dealer has purchased goods (other than the declared goods) which are originally manufactured by,–
(i) the Mega Unit or, as the case may be, the Ultra Mega Unit, holding valid Identification Certificate under the Act, or
(ii) the Very Large Unit or, as the case may be, the Mega Unit holding valid Certificate of Entitlement under the Act, to whom benefits by way of deferment of payment of tax under Package Scheme of Incentives 1993 has been granted,
then he shall be entitled to claim set-off in respect of the said goods only to the extent of aggregate of,-

(a) the taxes paid or payable under the Central Sales Tax Act, 1956 on the inter-state resale of the corresponding goods, and

(b) the taxes paid on the purchases of said goods, if are re-sold locally under the Act.

(2) the set-off as determined under sub-rule (1) above in respect of the said goods shall be claimed only in the month in which corresponding sales of such goods is effected by the claimant dealer:

Provided that, nothing in this rule shall apply to the purchases of such goods that are used within the State in the manufacturing of the goods.

(3) Contrary to the provisions of sub-rule (1) and sub-rule (2),for the period starting from the 1st April 2016 onwards,––

(a) if the dealer has claimed set-off as per provisions of rule 52 and has adjusted against the tax liability of that period or has carried forward such set-off to the subsequent month or quarter or, as the case may be, subsequent financial year and

(b) has not claimed the refund of such excess set-off,

then, such dealer shall compute the set-off as per sub-rule (1) of this rule and the amount of set-off so adjusted in contrary to the provisions of sub-rule (1) or sub-rule (2) or the excess set-off so carried forward, if any, for those periods, shall be reversed in the return for the period ending on the 30th June 2017.