71A. Exemption on contractual transfer of goods involved in the development Special Economic Zone.

Where as dealer, being a developer as referred to in clause (a) of the Explanation to rule 54A, is liable to pay tax under section 15, he may, for the purpose of determining the contractual transfer price on which tax is payable by him under section 21 during any period, deduct under clause (c) of sub-section (1) of section 21 from contractual transfer price received or receivable by him that part of such contractual transfer price during that period which represents contractual transfer of goods involved in the execution of works contract by him in the development of any Special Economic Zone as referred to in clause (b) of the said Explanation