(1) A registered person may deduct the amount of tax paid or payable when importing or receiving goods or services related to his taxable business from the amount of tax collected by him.

(2) Subsection Notwithstanding anything written in (1), provision may be made for non-deduction of tax or partial deduction of tax in respect of the following items which can be used for both commercial or personal purposes:-

(a) Aircraft,< /p>

(b) motor,

(c) …………

(d) other items as specified which are of high value.

(3) If a full part of the goods or services traded in a month is not used in taxable transactions, the deduction of the tax previously paid on the said goods or services shall be provided only on the portion used in taxable transactions of those goods or services as prescribed.

(4) ) According to this section, if the goods or services to be provided with tax deduction facility cease to be used in taxable transactions before the expiry of the specified period of usefulness, the tax shall be levied on the said goods or services as having been sold at the immediate market price.

( 5) Notwithstanding anything written in sub-section (1), the tax deduction facility available to a registered person dealing in used goods shall be as prescribed. The capital goods such as machinery made will be allowed to be deducted from the tax paid by the related industry, company, etc., as if they were imported or purchased.

(7) Deduction of tax paid or payable on items used in taxable transactions existing at the time of registration shall be as prescribed.