(1) In calculating the taxable turnover for any period, a dealer may deduct from his gross turnover of goods during that period, -
(a) the value of goods specified in Schedule-I;
(b) the value of goods which, without use, consumption or sale, have been delivered outside the local area;
(c) the value of goods which have been subjected to tax once as such or in the same form under this Act;
(d) the value of goods which after manufacturing, processing, conversion, job-work, assembling or packing are sent outside the State in the course of inter-state sale or in the course of export out of the territory of India; and
(e) the value of such other goods as are specifically exempted or are not taxable under any provision of this Act.
Explanation.- For the purpose of this sub-section, deduction of value of only such goods shall be admissible which forms part of gross turnover of the dealer and if value of certain goods has been deducted under one clause then it shall not be deducted under any other clause.
(2) The deductions claimed under sub-section (1) shall be subject to production of such proof in such form and in such manner as the State Government may notify. The Assessing Authority may ask for any relevant evidence to satisfy itself about the genuineness and correctness of the proof furnished.