67. Purchases of plant and machinery, spare parts, etc. made against issue of declaration exempt from purchase tax

A registered dealer who has issued declaration referred to in the second proviso to sub-section (2) of section 17 for availing the benefit of the lower rate of tax on sales of goods to him as referred to in clause (b) of sub-section (2) of that section and who is liable to pay tax on his purchases of such goods under clause (b) of sub-section (1) of section 13 may, for the purpose of determining his taxable specified purchase price, deduct from his specified purchase price that part of his specified purchase price which represents purchases of plant and machinery, spare parts, accessories and components thereof or consumable stores against such declaration.