=- If any person collects any amount by way of tax and his turnover for the year falls short of the taxable limit specified under this Act, the sum so collected shall be remitted to the Government and forfeited, after deducting the eligible input tax credit claim, if any, on the corresponding purchases.
____________________________
1. These words were substituted for the words ‘five years from the date of order of the assessment’ by Section 8 of the Fifth Amendment Act 23 of 2012, effective from a date to be notified and notifie by G.O.No.82 as effective from 19th June 2012.
*. In Section 39 Sub-section 11 was omitted and in sub-section 12 the words “or duplicate” were omitted and the words “of dealer” was substituted instead of these words” or for a copy or duplicate of the certificate” as per Gazette No 217 dated 14.10.2015.
Prior to 1st April 2012, when this section was substituted in its present form by Section 2 of the Amendment Act 3 of 2012, this section was as under:--
41. Forfeiture of tax collected:- If any person collects any amount by way of tax and his turnover for the year falls short of the taxable limit specified, the sum so collected shall be remitted to the Government and forfeited wholly.