Finance Act, 1975
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Amendment of section 11 of Value-Added Tax Act, 1972. |
51.— Section 11 of the Value-Added Tax Act, 1972 , is hereby amended with effect on and from the 16th day of January, 1975— | |
(a) by the substitution of the following subsection for subsection (2): | ||
“(2) Where goods which are of a kind specified in the Fourth Schedule and which— | ||
(a) were imported, or sold in the State, before the specified day in such circumstances that whole-sale tax was chargeable or would have been chargeable if that tax had been in force on the date of the importation or sale, or | ||
(b) were, on any previous occasion on or after the specified day, imported by or delivered to a person other than a manufacturer of goods of the kind so delivered or imported in such circumstances that tax at the rate for the time being specified in subsection (1) (c) was chargeable in relation to such importation or delivery, | ||
are delivered within the State on or after the specified day, tax shall be charged at the rate for the time being specified in subsection (1) (a) on the appropriate amount of any consideration for such delivery.”, | ||
and | ||
(b) by the substitution of the following subsection for subsection (4): | ||
“(4) Where goods for the manufacture of which materials have been supplied by or on behalf of any person are delivered by the manufacturer to that person and the rate of tax chargeable in relation to the delivery of the goods exceeds that which would be chargeable in relation to a delivery within the State of the materials, the person who delivers the goods shall, in respect of the delivery of such goods, be liable, in addition to any other liability imposed on him by this Act, to pay tax on the value of the materials supplied to him at a rate equivalent to the difference between the two aforementioned rates.”. |