Reduction of tax credit (Section 9(6), 9(9) and Section 10(3)

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..... ollowing manner:- (a) in the case of goods specified in the Second Schedule, the tax credit shall be reduced by 100 percent; and (b) in the case of goods other than those specified in the Second Schedule, the tax credit shall be reduced by [ 2/R X 100 ] percents where R is the rate of tax applicable as per section 4. ] 10 [ Provided that in case of following goods, the tax credit shall be reduced .....

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..... lhi are the same goods as originally transferred 5 [ or the goods processed or manufactured out of the goods as originally transferred. ] (3) Where any goods or goods manufactured out of such goods are lost or destroyed, the dealer shall not be eligible to claim tax credit on such goods and the credit taken in any earlier tax period shall be reversed in the tax period in which goods are claimed to .....

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..... tification No. .F 3(2)/Fin(T E)/2007-08/(iv)/dsfte/353 dated 14/5/2007 as (1) For the purposes of sub-section (6) of section 9 and sub-section (3) of section 10, the tax credit shall be reduced by the following prescribed percentages:- (a) in the case of goods specified in the Second Schedule - 100 per cent (b) in the case of goods specified in the Third Schedule - 70 per cent (c) in the case of g .....

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..... serted vide notification No. F. 3(27)/Fin (T E)/2009-10/JS Fin/195 dated 17-3-2010 5. Inserted vide Notification No. F. 3(59)/Fin (T E)/2005-06/923Kha, Dated: 30.11.2005, w.e.f. 30.11.2005. 6. Inserted vide Notification No.F.3(15)/Fin.(Rev-I)/2012-13/dsVI/264 Dated 30/03/2013. 7. Substituted vide F.3(12)/Fin(Rev-I)/2015-2016/dsvi/650 before it was read as, 1 [(1) For the purposes of sub-section (6 .....

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..... se of cigarettes (irrespective of form and length), the tax credit shall be reduced by 100 percents. ] 11. Substituted vide F.3(25)/Fin(Rev-I)/2015-2016/dsvi/954 - Dated 18-12-2015, before it was read as, 9 [(5) For the purposes of sub-section (10) of section 9 and sub-section (3) of section 10, in case of cigarettes (irrespective of form and length), the tax credit shall be reduced by {(R-2) I00/ .....

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